This February, we hope you enjoy a very Happy Valentine’s Day and a wonderful Family Day!

In this edition, we highlight several timely topics relevant to tax planning, retirement income, and overall well-being. With the 2025 tax season fast approaching, this is an excellent time to review strategies and reminders that may be relevant to you or your family.

We invite you to explore the topics that interest you most. If you wish to discuss how any of these items may apply to your personal situation, your Macnaughton & Ward Financial Advisor is always happy to assist.

If there are financial topics you would like us to address in a future issue, please feel free to email us at Email Us. We welcome your suggestions and appreciate the trust you place in us.

In this edition:

• Planning Reminder

• Market Update - February 2026

• EFILE Opens February 23, 2026

• 2025 RRSP Contribution Deadline

• 2026 TFSA Contribution Limit

• Reporting Capital Gains as a Crypto-Asset User

• Retirement Income for Life

• Home Equity Bank CHIP Reverse Mortgage

• 5 Tips to Get You Moving

• Advisor’s Corner - Your Questions Answered

Planning Reminder

As the year begins, this can be a good time to review beneficiary designations and ensure they still reflect your wishes, especially if there have been family or life changes.

Market Update

Financial markets continue to adjust as the economy works through higher interest rates and changing conditions. Inflation has eased from earlier highs, but interest rates remain an important factor for investors. While daily market news can change quickly, longer-term factors such as employment levels, business activity, and consumer spending continue to support economic stability.

For those nearing or living in retirement, market ups and downs can feel unsettling. This is why focusing on long-term planning is so important. A diversified approach that considers income needs, risk tolerance, and time horizon can help manage uncertainty and reduce the impact of short-term market movements. For many investors, strategies that emphasize steady income and capital preservation may provide added peace of mind.

Markets will continue to change, but your financial plan should remain grounded in your personal goals. If you have questions about recent market activity or would like to review how your investments and insurance coverage fit within your overall plan, your Macnaughton & Ward Financial Advisor is always available to help.

EFILE Opens February 23, 2026

The CRA’s EFILE/NETFILE services will open on Monday, February 23^rd.

We look forward to assisting you again this tax season and encourage clients to begin gathering their tax documents as they become available. Booking early can help ensure a smooth and timely filing process.

Reminder – When are Tax Slips Due in 2026?

·        T3 Slips –  due on March 31, 2026 (expect to receive by April 15^th)

·        T4 and T5 Slips –  due on March 2, 2026 (expect to receive by March 13^th)

·        T4 RSP & T4 RIF – due on March 2, 2026

·        T5008 – due on March 31, 2026 (expect to receive by April 15^th)

·        RRSP Contribution Receipts –  due on March 31, 2026

Visit Important Tax Filing Deadlines for updates

2025 RRSP Contribution Deadline

The RRSP contribution limit for 2025 is 18% of your earned income from the previous year, up to a maximum of $32,490. This represents an increase from the 2024 limit of $31,560.

Any unused RRSP contribution room carries forward from year to year. Your most recent Notice of Assessment from CRA confirms your total available contribution room.

To claim an RRSP deduction on your 2025 income tax return, contributions must be made no later than March 2, 2026.

RRSPs can play an important role in retirement and tax planning, but contribution strategies should align with your income, cash flow, and long-term goals. Your Account Manager can help you review your available room and determine whether an RRSP contribution makes sense as part of your overall plan.

RRSP Reminder: Making contributions early, and reviewing your available room, can help avoid last-minute decisions and support more effective long-term planning.

Please contact your Macnaughton & Ward Financial Advisor if would like assistance.

RRSP Strategy Tip
Reinvesting your RRSP tax refund, whether immediately or through a short-term RRSP loan, can meaningfully increase long-term retirement savings without increasing monthly contributions. The right approach depends on cash-flow comfort and personal goals.

2025 TFSA Contribution Limit

The annual Tax-Free Savings Account (TFSA) contribution limit remains $7,000 for 2026.

For Canadians who have never contributed to a TFSA and were born in 1991 or earlier, the cumulative TFSA contribution limit is now $109,000 as of January 1, 2026.

TFSAs can play an important role in tax-efficient saving, investing, and retirement income planning. Your Account Manager can help determine how a TFSA fits within your overall financial strategy and ensure contributions remain within permitted limits. You can also explore TFSA-eligible investment options on our website at:

TFSA investment products

Reporting Capital Gains as a Crypto-Asset User

You may have purchased crypto-assets yourself, or perhaps a family member has. While crypto investing may not be suitable for everyone, it is important to understand the associated tax reporting requirements.

The Canada Revenue Agency requires that gains or losses from crypto-asset transactions be properly reported. Tax treatment can vary depending on how crypto-assets are used and held, and reporting obligations may apply even if transactions were infrequent.

It is also important to note that crypto-assets are not approved investments for registered plans such as TFSAs or RRSPs.

Any crypto-asset activity must be held in non-registered accounts, where gains or losses may be taxable and subject to reporting requirements.

For general information, the CRA outlines its requirements here:
Reporting your capital gains as a crypto-asset user - Canada.ca

As always, we recommend using our professional tax preparation services to ensure your personal income tax return is completed accurately and in compliance with CRA rules.

Retirement Income

for Life

As traditional defined benefit pension plans have become less common, many Canadians are looking for ways to create more predictable income in retirement.

Empire Life’s Class Plus 3.0 is designed to provide Protection for Life through structured retirement income while maintaining investment exposure. The product offers income planning features that may appeal to individuals seeking greater certainty as part of their long-term retirement strategy.

As with any retirement income solution, suitability depends on individual goals, risk tolerance, and financial circumstances. If you would like to learn more about how this type of product works, your Macnaughton & Ward Financial Advisor can walk you through the details and answer any questions you may have.

Home Equity Bank CHIP Reverse Mortgage

For homeowners aged 55 and older, the CHIP reverse mortgage may be a financial planning tool to consider.

Many retirees own their homes mortgage-free but have limited liquid assets or cash flow. A reverse mortgage may allow eligible homeowners to access a portion of their home equity, without the need for regular mortgage payments, to help support retirement income, address healthcare costs, or assist family members.

Reverse mortgages are not suitable for everyone and should be reviewed carefully as part of a broader financial plan. If you would like to explore whether this option may be appropriate for your circumstances, your Macnaughton & Ward Financial Advisor can review the features, costs, and considerations with you in detail.

5 Tips to Get You Moving

Maintaining good health is an important part of enjoying retirement and preserving quality of life.

Rather than focusing on ambitious resolutions, small and consistent movement can deliver meaningful benefits. Regular activity supports heart health, muscle strength, balance, digestion, and overall well-being, helping you stay active and independent longer.

Whether it’s walking, swimming, cycling, dancing, or another activity you enjoy, the key is to keep moving. Beneva offers the following practical tips to help you get started

Advisor’s Corner

Where your questions meet clear financial advice

Q. Sylvia is already doing many things right. Consistent RRSP contributions build discipline and long-term momentum. A helpful first step would be reviewing where her RRSP is held, how it’s invested, and whether it aligns with her risk tolerance and retirement goals.

A. Beyond that, there may be opportunities to increase her retirement savings without increasing her monthly cash outlay.

Sylvia currently contributes $400 per month, or $4,800 per year. Assuming she has primarily employment income and is in a 33.8% marginal tax bracket, those contributions would generate an estimated tax refund of approximately $1,622. If she reinvests that refund into her RRSP, her total annual contribution effectively rises to $6,422, without changing her monthly budget.

For individuals comfortable reinvesting their refund, an RRSP loan can further accelerate this strategy.

For example, Sylvia could arrange a short-term 90-day no-payment RRSP loan of approximately $2,450 (interest rate used for illustration only; rates vary). Combined with her regular monthly contributions, she would receive RRSP contribution receipts totaling $7,250. At the same assumed tax rate, this would generate a refund close to $2,450, which could then be used to repay the loan principal when the refund arrives.

The cost? Over 90 days, the interest would be approximately $33, paid out of pocket.

For some individuals, paying a modest interest cost to meaningfully increase retirement savings, without increasing monthly contributions, can be a worthwhile trade-off. For others, a more gradual approach may feel more comfortable. The key is ensuring the strategy fits cash-flow, risk tolerance, and overall financial objectives.

If Sylvia would like guidance tailored to her situation, we would be pleased to review her options and help her determine whether this approach makes sense before the RRSP contribution deadline of March 2, 2026

Important Disclosure – Investment Loans
Borrowing to invest may increase potential  returns, but it also increases risk and may result in losses greater than the  amount invested. Interest must be paid regardless of investment performance.  This strategy is not suitable for everyone and should only be implemented after  a thorough assessment of financial circumstances, risk tolerance, cash-flow  capacity, and investment objectives with a licensed Account Manager.