Tax rates and guides
The current Canada tax rates, and plain-English explanations of what comes out of your pay.
31 guides, checked against official sources
- Retirement & saving RRSP vs TFSA: which should you use first? How RRSPs and TFSAs differ, which is better at your income, the 2026 limits, and how to use both, with worked examples in plain English. Read the guide
- Buying a home The FHSA explained: First Home Savings Account How the First Home Savings Account works, the $8,000 yearly and $40,000 lifetime limits, who can open one, and how to use it with the Home Buyers' Plan. Read the guide
- Loans & credit Building credit from scratch in Canada, including newcomers New to credit or to Canada? How to start a credit history with a secured or student card, why additional cardholders don’t build credit, and what to avoid. Read the guide
- Income tax How tax brackets work in Canada How Canada's federal and provincial tax brackets work in 2026, the difference between your marginal and average tax rate, and why a raise never lowers your pay. Read the guide
- Buying a home Land transfer tax in Canada, province by province How much land transfer tax you'll pay in each province, Toronto's and Montreal's extra city tax, first-time buyer rebates, and when it's due. Read the guide
- Buying a home CMHC mortgage insurance explained When you need mortgage default insurance in Canada, how much CMHC insurance costs at each down payment, the 30-year surcharge and the $1.5 million cap. Read the guide
- Pay & benefits CPP and EI explained What CPP and EI are, how much comes off your paycheque in 2026, how Quebec differs and why your pay goes up late in the year, in plain English. Read the guide
- Buying a home The mortgage stress test explained How Canada's mortgage stress test works, the rate you must qualify at, how much it changes what you can borrow, and who has to pass it. Read the guide
- Pay & benefits How to compare two job offers in Canada How to compare job offers in Canada, from take-home pay after provincial tax, CPP and EI to the pension or RRSP match, benefits, vacation and living costs. Read the guide
- Retirement & saving How much should I save for retirement? (RRSP guide) How much to save for retirement in Canada, why starting early matters most, a simple target for your RRSP, and how to use your RRSP room and tax savings. Read the guide
- Money basics Banking basics in Canada: chequing, savings and CDIC How chequing and savings accounts work in Canada, what to look for in a bank, how CDIC protects your deposits and how to avoid fees, in plain English. Read the guide
- Pay & benefits CRA benefit payment dates 2026 and 2027: CCB, GST credit (now CGEB), CPP and OAS When the CCB, Groceries and Essentials Benefit (the old GST credit), CPP, OAS, Canada Workers Benefit and provincial benefits are paid in 2026 and 2027. Read the guide
- Pay & benefits Benefits and tax credits you might be missing in Canada Canada Child Benefit, Groceries and Essentials Benefit, Canada Workers Benefit and more: what working people and families can get, and how to claim it. Read the guide
- Loans & credit Buy now, pay later in Canada: costs, credit and the rules How buy now, pay later works in Canada: what pay-in-4 and monthly plans cost, how they affect your credit report, and the rules that protect you. Read the guide
- Investing Capital gains tax in Canada: 50% inclusion and your home How capital gains are taxed in Canada: the 50% inclusion rate, the principal residence exemption, capital losses, and the lifetime capital gains exemption. Read the guide
- Loans & credit Credit scores in Canada: what counts and how to raise yours How credit scores work in Canada, what Equifax and TransUnion look at, how to check your score for free and the fastest ways to improve it. Read the guide
- Loans & credit Help with debt in Canada: free advice and formal options Free, confidential help with debt in Canada: non-profit credit counselling, debt management plans, consumer proposals and bankruptcy. Read the guide
- Money basics Emergency fund in Canada: how much and where to keep it Why an emergency fund comes before almost everything else, how to work out yours, where to keep it in Canada (a savings account or TFSA) and how to build it. Read the guide
- Buying a home First-time home buyer guide: down payment, FHSA and rebates Buying a first home in Canada: the down payment, FHSA and Home Buyers’ Plan, CMHC insurance, the stress test, first-time buyer rebates and closing costs. Read the guide
- Money basics How to make a budget in Canada (the 50/30/20 rule) A simple way to budget in Canada: start from your take-home pay after tax, CPP and EI, split it 50/30/20, plan for yearly bills and automate it. Read the guide
- Loans & credit How to pay off debt in Canada: avalanche or snowball? How to pay off several debts in Canada: the avalanche and snowball methods, which saves more, and how to pay less interest, with a worked example. Read the guide
- Money basics How to spot and report money scams in Canada The warning signs almost every scam shares, the most common scams in Canada, from fake CRA calls to e-Transfer fraud, and where to report them. Read the guide
- Investing Index funds vs picking stocks in Canada: why go passive What an index fund or ETF is, why most Canadian fund managers trail the TSX, what a 2% MER costs you over time, and how to start investing in a TFSA or RRSP. Read the guide
- Money basics Inflation and interest rates in Canada, explained What inflation is, why the Bank of Canada raises and cuts its policy rate, and what it means for your savings, debts and mortgage renewal. Read the guide
- Money basics Insurance basics in Canada: what you need and what to skip Which insurance matters most in Canada: your income beyond EI, what provincial health plans don’t cover, life, home and car insurance, and what to skip. Read the guide
- Investing Investing basics: TFSA, RRSP and index funds What investing is, how stocks, bonds and index ETFs work, which accounts to use first in Canada (TFSA, RRSP, FHSA) and how to start with a small amount. Read the guide
- Money myths Myth: checking your credit score lowers it (Canada) Checking your own credit score or report never lowers it. Soft vs hard inquiries at Equifax and TransUnion, and what applying for credit really costs. Read the guide
- Money myths Myth: a raise into a higher bracket cuts your pay (Canada) A higher tax bracket only taxes the extra income at the higher rate. Why a raise doesn’t cut your take-home pay in Canada, with a worked example. Read the guide
- Money myths Myth: renting is throwing money away (Canada) Homeowners pay a lot they never get back too: mortgage interest, property tax and repairs. How to compare renting and buying fairly in Canada, with the 5% rule. Read the guide
- Income tax Side hustle taxes in Canada: what to report, CPP and GST/HST How side hustle and gig income is taxed in Canada: reporting it, CPP on self-employment, the $30,000 GST/HST threshold, platform reporting and instalments. Read the guide
- Investing Where to invest: TFSA, RRSP, FHSA or non-registered? Which investment accounts to use first in Canada: TFSA, RRSP, FHSA and non-registered accounts, how each is taxed, and the 2026 limits. Read the guide
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