So, you’ve filed your taxes—what now? Whether you breathed a sigh of relief or are still nursing a caffeine hangover from the crunch, the period right after tax season is the perfect time to reset your financial goals. Here’s how to make the most of this fresh start:

1. Review Your Notice of Assessment

Once you receive your Notice of Assessment (NOA) from the CRA, go over it carefully. It can include:

• Unused RRSP contributions
• Reassessments or corrections
• Your updated contribution room

Spotting any discrepancies early gives you time to address them before next year.

2. Make a Plan for Your Refund (or Payment)

If you’re getting a refund, put it to work:

• Pay down debt
• Contribute to your TFSA or RRSP
• Start an emergency fund
• Invest in personal growth (courses, certifications)

If you owed taxes, now’s the time to plan for next year so you’re not caught off guard again.

3. Adjust Your Payroll Withholding

If your refund was too large or you owed more than expected, consider adjusting your T4 withholding. Less tax withheld = more take-home pay throughout the year (and no big surprises come tax time).

4. Organize Your Documents Now

Create a digital folder for the upcoming year. Start dropping in donation receipts, medical expenses, and childcare costs so you’re ready early next time.

5. Revisit Your Financial Plan

Use this momentum to assess:

• Budget and cash flow
• Retirement planning
• Investment strategy

Meeting with a financial planner can help turn your tax situation into an opportunity for smarter long-term planning.