Post-Tax Season Planning Opportunities

Following the completion of the 2025 tax season, many clients are looking for ways to reduce or better manage future tax balances.

For those who owed tax this year, or prefer to avoid a large balance owing in the future, there are several simple planning options to consider:

• CPP and OAS recipients may request additional tax withholding at source
• Employees can request additional payroll tax deductions through their TD1 form
• Some retirees and investors may also wish to review tax instalment strategies and retirement cash flow timing

By adjusting tax withholdings gradually throughout the year, it may be possible to reduce or eliminate a balance owing at filing time while also improving cash flow predictability.

In some cases, investors may choose to keep their funds invested until tax payment deadlines instead of paying taxes well in advance. This approach can help minimize opportunity costs by avoiding the need to hold excess cash earlier than necessary.

As every situation is different, tax payment and cash flow strategies should be reviewed alongside retirement income, investment, and estate-planning considerations. If you would like assistance reviewing these options, we would be pleased to discuss what approach may be suitable for your circumstances.