RRSP
$33,8102026 annual dollar ceilingYour own deduction limit may be lower or higher after earned income, pension adjustments and unused room. Check your notice of assessment and contribution records.
Ontario · Individuals & business owners
Make sense of
the 2026 tax year.
The rates, limits and dates worth knowing, with official sources and practical next steps.
Sources verified · All amounts in CAD
Keep the income year, contribution year and filing dates in view together.
Visual labels: 2026; Rates and limits; Filing dates.Plan ahead
Dates to put on your calendar.
Match the obligation to the right year. Filing, payment and contribution deadlines can be different.
Fourth personal tax instalment
For individuals required to pay quarterly instalments. Check your reminder and calculation method; farming and fishing have different rules.
2026 FHSA contribution year ends
Unlike RRSPs, an FHSA contribution in the first 60 days of 2027 cannot be deducted for 2026.
2026 T4/T4A information returns
Calculated from CRA’s last-day-of-February rule and next-business-day rule: February 28, 2027 is a Sunday. Payroll remittances have their own deadlines.
Most 2026 personal returns and balances
The usual T1 filing date for most individuals, and the payment deadline for self-employed balances. Special situations can have different rules.
Most self-employed 2026 T1 returns
The later filing date generally applies if you or your spouse or common-law partner carried on a business. It does not extend April’s payment deadline; tax-shelter exceptions apply.
The T4/T4A date is calculated from CRA’s published rule. The usual personal-return date follows CRA’s general filing rule; the 2027 business fact sheet confirms self-employed filing and payment dates. Deaths, non-residency and other special circumstances need separate checks.
Personal income tax
Each bracket taxes a portion.
Federal and Ontario tax apply together. These are marginal bracket rates, before credits, Ontario surtax and the Ontario health premium. A higher bracket does not apply to all of your income.
Federal
| Portion of taxable income | Rate |
|---|---|
| Up to $58,523 | 14% |
| Over $58,523 to $117,045 | 20.5% |
| Over $117,045 to $181,440 | 26% |
| Over $181,440 to $258,482 | 29% |
| Over $258,482 | 33% |
Ontario
| Portion of taxable income | Rate |
|---|---|
| Up to $53,891 | 5.05% |
| Over $53,891 to $107,785 | 9.15% |
| Over $107,785 to $150,000 | 11.16% |
| Over $150,000 to $220,000 | 12.16% |
| Over $220,000 | 13.16% |
Ontario rates generally depend on your province of residence on December 31, 2026. The tables are a reference, not a complete personal tax calculation.
Contribution planning
The published limit is a starting point.
TFSA
$7,000New annual room for 2026This is the annual dollar limit, not everyone’s available room. Reconcile all accounts and your own records; withdrawals normally restore room in the next calendar year.
FHSA
$8,000Room in the year you open your first FHSAThe ordinary lifetime limit is $40,000. Available room depends on opening, carryforward, contributions and transfers. Contributions for a 2026 deduction must be made by December 31, 2026.
For business owners
A mid-year change to check.
Ontario’s lower corporate rate: 3.2% → 2.2%
CRA’s current rate table records the reduction effective July 1, 2026. With the 9% federal small-business rate, the combined eligible rate is 12.2% before the change and 11.2% after it. A year spanning the change must be prorated by days.
The ordinary business limit is $500,000, subject to eligibility, association, taxable-capital, passive-income and other rules. The lower rate does not apply to every corporation or all income.
Corporation income tax
A T2 return is generally due six months after the corporation’s own year-end. The balance is usually due after two months, or after three months for a qualifying CCPC. Instalments can fall earlier.
GST/HST
Monthly and quarterly filers generally file and pay one month after the reporting period. Most annual filers have three months. An annual-filing individual with business income and a December 31 year-end may have an April 30 payment date and June 15 filing date.
Employers & employees
2026 CPP and EI at a glance.
CPP: base + first additional
$74,600 ceiling; $3,500 basic exemption
- Employee
- 5.95%; maximum $4,230.45
- Employer
- Matches the employee contribution
CPP2: second additional
Earnings from $74,600 to $85,000
- Employee
- 4%; maximum $416
- Employer
- 4%; maximum $416
EI: outside Quebec
$68,900 maximum insurable earnings
- Employee
- 1.63%; maximum $1,123.07
- Employer
- Normally 1.4× employee premiums; maximum $1,572.30
CPP figures assume a full year of applicable pensionable employment. Age, CPP elections and other exceptions can change deductions. Self-employed CPP generally includes both shares. Payroll software and your remitter type determine the actual deduction and remittance workflow.
Get help with payroll →Put it into practice
Turn the reference into a useful plan.
Read the 2026 explainers
Your 2026 year-end tax checklist in Ontario ↗2026 RRSP, TFSA and FHSA limits: check your own room ↗Prepare your records
Personal tax document checklist ↗Business year-end checklist ↗Understand your notice of assessment ↗Understand a fiscal year-end ↗Questions about your 2026 tax position?
Discuss your income, records and deadlines with Nauman Chaudhry, CPA.
Book a free consultation ↗Personal tax servicesCorporate tax services