New to Canada? Set up your money in the right order.
Tell us when you arrived. Get a dated plan for your first 12 months, and add the key dates to your calendar.
7 dated steps for your first year
- Week 1by Oct 31, 2026
Get your SIN and open a bank account
- Apply for your Social Insurance Number at Service Canada. You need it to work, file taxes and get benefits.
- Open a chequing account. Compare newcomer packages and monthly fees.
- Apply for provincial health coverage in Ontario. Some provinces have a waiting period, so apply early.
- Weeks 1–4by Nov 21, 2026
Apply for benefits, no tax return needed
- Apply for the Canada Groceries and Essentials Benefit (CGEB, formerly the GST/HST credit) with Form RC151. Single people can get up to $679 a year.
- Send the CRA your statement of world income for the two years before you arrived, so your benefits are calculated correctly.
- Month 2by Dec 24, 2026
Start your Canadian credit history
- Get one credit card, often a secured or newcomer card.
- Use a small part of the limit and pay the full balance on time every month. Set up autopay.
- Avoid applying for many cards at once.
- Month 3by Jan 24, 2027
Build your budget and emergency fund
- Split your pay into Needs, Future You and Wants.
- Aim for a starter emergency fund, then grow it toward three months of costs.
- Month 6by Apr 24, 2027
Check your credit report and savings options
- Get your free credit report from Equifax and TransUnion. Check that your details are right.
- Learn how TFSAs and FHSAs work. You need to be a resident, 18+, with a SIN. Check your room in CRA My Account first: over-contributions are taxed 1% a month.
- Before Dec 31by Dec 31, 2026
Get ready for tax season
- Keep receipts for medical, child care, education and moving costs.
- Create your CRA My Account once you have your SIN.
- By April 30by Apr 30, 2027
File your first Canadian tax return (2026 tax year)
- Report your world income for the part of the year before you arrived, as the CRA asks.
- Self-employed? The filing deadline is June 15, but any balance is still due April 30.
- File every year after this. Most benefits depend on it.
- Ongoing
Keep your records and status up to date
- Send the CRA your renewed permit before the old one expires.
- Keep tax records for at least six years.
Keep your plan
Save it as a PDF on your device. We don’t store your numbers.
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How this works
The roadmap follows the Canada Revenue Agency’s steps for newcomers: get a Social Insurance Number, apply for benefits early, then file your first return the year after you arrive.
You can apply for the Canada Groceries and Essentials Benefit (CGEB, formerly the GST/HST credit) and the Canada child benefit before your first tax return. Dates are calculated from your arrival date.
Rules differ by immigration status and province. Check each step on Canada.ca before you act.
Educational estimate only. Finance Woman shares financial education, insights and general information for women in Canada. We are not a registered or licensed financial, investment, tax or legal adviser, and we do not sell or recommend financial products. Do your own research and speak to a licensed professional before you act.
Questions
Do I need to file a tax return before I get benefits?
No. The CRA says you can apply for the CGEB with Form RC151, and for the Canada child benefit with Form RC66, before your first return.
When is my first tax return due?
April 30 of the year after you became a resident. If you or your spouse is self-employed, the filing deadline is June 15, but any balance owed is still due April 30.
How do I build credit as a newcomer?
Start with one credit card, often a secured or newcomer card. Use a small part of the limit and pay the full balance every month on time.
Can I open a TFSA right away?
You need to be a resident of Canada, 18 or older, with a valid SIN. Check your contribution room in CRA My Account first: over-contributions are taxed 1% per month.
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