A New Year Investor Checklist for Canadians

This checklist is designed to help Canadian investors approach the year ahead with more clarity, intention, and preparedness — regardless of market conditions.

Take time to assess how your portfolio has performed overall and whether the level of risk remains appropriate in terms of your personal risk appetite. This may include evaluating returns relative to relevant benchmarks, identifying investments that have meaningfully outperformed or underperformed expectations, and considering whether your current mix of asset classes still aligns with your time horizon and tolerance for volatility. Focusing on performance at the portfolio level — rather than on individual holdings — can help keep decisions grounded in long-term objectives rather than short-term market noise.

Over time, market movements can cause portfolios to drift away from their intended asset allocation. Rebalancing may help realign your portfolio with its original risk profile. Rebalancing can also help to reduce exposure to asset classes that have grown disproportionately, increase exposure to areas that may have become underrepresented and encourage a more disciplined approach during periods of heightened market emotion.

While rebalancing does not guarantee improved outcomes, it is commonly used as a tool to manage portfolio risk over time.

Early in the year is a good time to revisit how registered accounts fit into your broader financial plan. Depending on your circumstances, this may include reviewing contribution room and account usage for your Registered Retirement Savings Plans, Tax-Free Savings Accounts and/or your First Home Savings Accounts, where applicable.

Each account is designed to support different objectives, and how they are prioritized often depends on factors such as income level, marginal tax rate, and investment time horizon. Reviewing these early allows for more intentional planning throughout the year.

Although tax filing season is still ahead, understanding your tax position early can help reduce surprises later in the year. This may include reviewing realized capital gains or losses from the prior year, understanding how investment income (interest, dividends, and capital gains) is taxed in Canada and considering whether strategies such as tax-loss selling. may be relevant going forward.

For non-registered (taxable) accounts, it remains important to be mindful of Canada’s superficial loss rule, which can deny a capital loss if an identical security is repurchased within the prescribed timeframe.

The beginning of the year is also a practical time to ensure that administrative and tax-related details are accurate and up to date, including:

• Beneficiary designations
• Tax residency status
• Social Insurance Number (SIN)
• Mailing and email addresses

Keeping this information current can help avoid delays or corrections when tax slips are issued.

As tax slips begin arriving in the coming months, having an organized system in place can make tax preparation more efficient.

Depending on your accounts and activity, you may receive:

• Contribution receipts for registered accounts
• T-slips related to interest, dividends, and fund distributions
• Summaries of securities transactions in non-registered accounts
• Additional reporting related to foreign income or assets, where applicable

Maintaining organized records early can help streamline tax filing and reduce last-minute stress.

Whatever your financial resolutions are, taking small, deliberate steps can make them more achievable. The new year is a perfect time for Canadian investors to reflect on whether financial goals or personal circumstances have changed, comfort with market volatility has shifted, or whether current portfolios still support their intended time horizon.