Banking
- Most banks offer newcomer accounts with lower fees in the first year
- A chequing account is for daily spending; a savings account is for saving
- Compare monthly fees and transaction limits before you choose
Build your credit
- Your credit history starts at zero in Canada
- A secured credit card is an easy way to start
- Pay the full balance on time every month
- Check your credit report for free with Equifax and TransUnion
Taxes and benefits
- File a tax return every year, even with no income, to keep getting benefits
- The deadline for most people is April 30
- In your first year, you can apply for benefits before you file
- Free tax clinics can file a simple return for you
Avoid scams
- The CRA never asks for payment by gift card, crypto or e-transfer to a person
- Hang up on calls that threaten arrest or deportation
- When in doubt, call the CRA using the number on its official website
Official sources
Reviewed November 2026. Rules change, so confirm details on official websites.