Apr 21, 2026
If you thought we’d reached the bottom of the tax-saving barrel, we have some good news. Beyond the headlines about tax bracket shifts and grocery benefits, there are several "under the radar" changes for 2026 that could be worth thousands. Whether you’re looking to turn your basement into a mortgage-paying asset or you’re working on the front lines of our healthcare system, the government has tucked some specific rewards into the tax code this year.
Here’s a breakdown of the new ways you can keep more of your money or even get the government to help fund your next big project.
Turn your home into an income generator
One of the most exciting developments for homeowners this year is the Canada Secondary Suite Loan Program. While not a direct tax credit, it’s a massive financial benefit that works alongside your housing taxes. If you’ve been thinking about building a basement apartment or a garden suite, the federal government is now offering up to $80,000 in financing at a fixed interest rate of 2%.
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According to CMHC guidelines (1), the goal is to help homeowners create more long-term rental units. The beauty of this is in the math. As Ottawa General Contractors recently noted in a program summary (2), an $80,000 loan at 2% results in monthly payments of roughly $515, which is often far less than the rental income such a suite would generate.
Just remember that once you start renting, that income is taxable. However, you can also deduct expenses like a portion of your mortgage interest, property taxes and utilities.
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A new thank you for personal support workers
If you work as a Personal Support Worker (PSW), the 2026 tax year is bringing a specific "thank you" in the form of a refundable tax credit. This is a brand new measure aimed at supporting those in the healthcare sector who are often underpaid for their vital work.
According to BDO Canada (3), this temporary credit allows eligible PSWs working for eligible healthcare establishments to claim a refundable credit of 5% of their earnings. The maximum value of this credit is $1,100 per year. Because it’s a refundable credit, you can get the money even if you don’t owe any income tax at the end of the year. It’s a significant win for those in the industry who are helping our aging population.
The non-refundable "top-up" credit
Because the federal government lowered the lowest tax rate from 15% to 14%, they accidentally made other tax credits less valuable. Most non-refundable credits — like the basic personal amount or the age amount—are calculated using that lowest rate.
To fix this, the 2025 federal budget introduced a "top-up tax credit." As noted by CIBC's tax analysts (4), this ensures that Canadians don’t lose money on their other credits just because the main tax rate dropped. If your taxable income is above $57,375, you should see this top-up applied automatically to protect your savings.
Small business and donor perks
For the entrepreneurs among us, there’s a big change coming to the Ontario Trillium Benefit. The province is increasing the lump-sum payment threshold to $500 from $360. According to the 2026 Ontario Budget (5), if your total entitlement is $500 or less, you will get the whole thing in one shot in July rather than waiting for monthly installments. It’s a small change that helps with cash flow.
Finally, if you made charitable donations in early 2025 during the Canada Post strike, double check your records. The government allowed a special extension where donations made in January and February 2025 could be claimed on your 2024 return. As BDO Canada warns (6), "ensure you don't inadvertently claim the same amounts in your 2025 tax return" if you already used them to boost last year's refund.
Get your ducks in a row
The 2026 filing season is shaping up to be one of the most complex in years because of these overlapping credits. The best way to stay organized is to keep your receipts for everything from home renovations to professional certifications.
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As a tax payer it is your right and expectation to get all of the refunds, benefits or credit payments you may be eligible for. You can find all the official dates and links on the CRA benefits page (7).
Do any of these new professional or housing credits apply to you this year, or are you just happy to see the lower tax rate on your paycheque?
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
CMHC (1); Ottawa General Contractors (2); BDO (3, 6); CIBC (4); Doane Grant Thornton (5); CRA (7)
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Leslie Kennedy served as an editor at Thomson Reuters and for Star Media Group, followed by a number of years as a writer and editor and content manager in marketing communications, before returning to her editorial roots. She is a graduate of Humber College’s post-graduate journalism program and has been a professional writer and editor ever since.
