As 2025 comes to a close, many Canadians use this moment to fine-tune their financial strategy, not out of urgency, but because smart timing and awareness create a clear advantage.
The end of the calendar year is more than just a tax deadline, but a natural checkpoint. It’s an opportunity to take stock of how your wealth is structured, anticipate legislative changes before they arrive, optimize how and where your capital is working and ensure your long-term goals are in alignment with your current life.
If we think of your financial portfolio as a home, year-end is when we talk room to room, checking the foundation, updating the fixtures, making sure the fridge is stocked, and the people inside are supported.
As any seasoned homeowner knows, getting your house to a place of quiet confidence takes regular care. Your financial house is no different. While the cold weather doesn’t affect your portfolio, the end of December brings its own kind of seasonal maintenance that calls for subtle shifts, updates, and adjustments to keep everything running smoothly.
Focusing On The Change
Each person and their portfolio experience both life and financial shifts in a given calendar year, usually in correlation with each other. Perhaps your income or investments looked different this year, maybe your family dynamic evolved, or nothing dramatic shifted, but you still sense it’s time for a check-in.
The takeaway?
Now is a good opportunity to review your financial picture and consider potential adjustments. This might include rethinking your investments, planning for a major purchase, evaluating your business or property holdings, or preparing for any upcoming changes in tax rules or regulations. The goal isn’t to rush into decisions but to understand how these factors could affect your plans and whether any proactive steps may need to be implemented before the end of the year.
The Season Of Giving
Donating to a cause you care about is always worthwhile, but year-end giving also carries tax advantages. If you donate before December 31st, you can claim the tax credit on your 2025 return.
If you hold investments that have gone up in value, you might consider donating securities directly. Doing this can help you avoid capital gains tax on the growth while receiving a full donation receipt, an act some might consider a win-win.
But there is one detail that is new this year: Canada’s Alternative Minimum Tax (AMT) rules have changed. The AMT is a separate way the government calculates tax to make sure a minimum amount is paid when certain deductions or credits, like large charitable donations, are being used. For some higher-income earners, very large donations might not reduce their taxes as much as they used to under the AMT, at least in the short term. But that doesn’t mean you shouldn’t give; it is worth talking to your portfolio manager to structure your giving, especially if you’re considering a significant donation.
RRSPs and TFSAs: Year-End Checkup
While we are checking in, why not look at some of the most widely used investment tools: RRSPs and TFSAs?
While the contribution deadline for the 2025 tax year is in early 2026, now is a good time to check how much room you have left and whether a top-up might make sense. Contributions can lower your taxable income, which might be especially helpful if you have had a high-income year.
For TFSAs, you’re on a tighter deadline. If you haven’t maxed out your 2025 TFSA contribution limit yet, you still have until December 31st to do so. TFSAs are ideal for tax-free growth and can be utilized for both short-term and long-term goals. If you are planning to withdraw from your TFSA, doing so before year-end allows that contribution room to reset in January, giving you more flexibility in 2026.
Tying It Up With A Bow
This season doesn’t have to feel overwhelming. With the holidays approaching and credit card bills piling up, it’s easy to feel like you’re falling behind before the year even ends. But what if this moment was reframed as an opportunity, one to pause, get organized, and make intentional choices that support your long-term goals?
Whether you’re reviewing your charitable strategy, topping up your TFSA, planning around capital gains or simply making sure your financial documents are in order, these final weeks of the year are all about clarity.
True wealth planning isn’t just about reacting to market shifts or life changes, but making steady, informed decisions that quietly support your life, your family, and your future.
If you haven’t had those conversations yet this year, there’s still time. Connect with a portfolio manager at RaeLipskie to make your year-end planning purposeful, personal, and grounded in expertise.
This blog has been updated from its former version to reflect recent changes. For any further clarification or information, please reach out to your RaeLipskie financial advisor.
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