Financial Resources
Free tools and guides to help you navigate the Canadian financial system
Tax Guides
First-Time Tax Filing Guide
Step-by-step guide for newcomers filing Canadian taxes for the first time. Includes explanations of forms, deadlines, and common deductions.
Download PDFTax Credits for Newcomers
Comprehensive guide to tax credits and benefits available to new Canadians, including GST/HST credit, Canada Child Benefit, and provincial programs.
Download PDFForeign Income Reporting Guide
Guidance on reporting foreign income, assets, and navigating tax treaties to avoid double taxation when you have income from multiple countries.
Download PDFInvestment Calculators
TFSA vs. RRSP Calculator
Interactive tool to compare potential growth and tax implications of investing in a Tax-Free Savings Account versus a Registered Retirement Savings Plan.
Use CalculatorCompound Interest Calculator
Calculate how your investments can grow over time with compound interest. Adjust contribution amounts, interest rates, and time periods.
Use CalculatorMortgage Affordability Calculator
Determine how much house you can afford based on your income, down payment, and current interest rates in the Canadian market.
Use CalculatorBudget Templates
Newcomer's First-Year Budget
Specially designed budget template for your first year in Canada, with categories for settlement costs, housing, transportation, and emergency funds.
Download Excel50/30/20 Budget Template
Simplified budgeting approach that allocates 50% of income to needs, 30% to wants, and 20% to savings and debt repayment.
Download ExcelDebt Repayment Tracker
Template to track and plan debt repayment, featuring both snowball and avalanche methods to eliminate debt efficiently.
Download ExcelFinancial Glossary
TFSA (Tax-Free Savings Account)
A registered account where Canadians can save or invest money without paying taxes on the interest, dividends, or capital gains earned within the account.
RRSP (Registered Retirement Savings Plan)
A tax-deferred retirement account that allows Canadians to save for retirement while reducing their taxable income. Taxes are paid when money is withdrawn.
CMHC Insurance
Mortgage default insurance required for homebuyers who make a down payment of less than 20% of the purchase price. Provided by the Canada Mortgage and Housing Corporation.
ETF (Exchange-Traded Fund)
An investment fund traded on stock exchanges that holds assets such as stocks, bonds, or commodities and generally operates with an arbitrage mechanism to keep trading close to its net asset value.
MER (Management Expense Ratio)
The fee charged by an investment fund for managing the fund's assets, expressed as a percentage of the fund's average net assets for the year.
GIC (Guaranteed Investment Certificate)
A Canadian investment that offers a guaranteed rate of return over a fixed period, with principal protection. Similar to certificates of deposit (CDs) in the US.
CPP (Canada Pension Plan)
A contributory, earnings-related social insurance program that provides income replacement in retirement or disability for contributors and their families.
OAS (Old Age Security)
A taxable monthly payment available to seniors aged 65 and older who meet Canadian legal status and residence requirements.
Capital Gain
The profit resulting from selling an asset for more than its purchase price. In Canada, only 50% of capital gains are taxable.
FHSA (First Home Savings Account)
A registered account introduced in 2023 that allows Canadians to save up to $40,000 tax-free toward the purchase of their first home.
Canadian Financial Institutions
Major Banks
Overview of the "Big Five" Canadian banks and services they offer to newcomers
Learn More
Tip of the Day
When applying for a credit card as a newcomer, start with a secured card from a major bank with a newcomer package. Make small regular purchases and pay the full balance monthly to establish good credit history quickly.
Need Personalized Financial Guidance?
Our team offers one-on-one consultations to help newcomers navigate the Canadian financial system.
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