Important year end tax deadlines

Making charitable donations from your investment account:

If you wish to donate money from your investment account to a charity, this is the last day to contact us for this donation to qualify for the 2024 tax year. Any requests after this date will be done on a best-effort basis.

Tax-loss selling of investments:

If you have a self-directed account and you’re planning to do tax-loss selling for any of your Canadian or U.S. listed securities, this is the last day you can sell investments to have them qualify for the 2024 tax year.

If you are a Questwealth customer, we look after tax-loss selling (also known as tax-loss harvesting) for you.

Contributing to an RESP or TFSA by online bill payment:

This is the final date to contribute to a Registered Education Savings Plan (RESP) or Tax-Free Savings Account (TFSA) by online bill payment to make sure it counts for the 2024 tax year. Funds need to be deposited to your account by this date (two business days before the last business day of the year), so that your contribution can be booked in time. (It can take up to two days for us to receive the funds from your bank.) To ensure the payment has been deposited to your account for 2024, log in to Questrade, go to Reports, and check your recent transaction history.

For TFSAs, to confirm if you still have available contribution room and to make sure you don’t over-contribute, contact the Canada Revenue Agency for an official statement. Check the TFSA contribution rules.

RESPs have a lifetime contribution limit of $50,000. The government matches a portion of your contributions with the Canada Education Savings Grant. You have some flexibility to catch up if you miss the RESP contribution deadline but the sooner you contribute, the sooner your money can start earning investment returns for you.

Contributing to your FHSA by online bill payment:

This is the final date to contribute to your FHSA by online bill payment (sent by 6 pm EST) to make sure it counts for the 2024 tax year.

To ensure the payment has been deposited to your account for 2024, log in to Questrade, go to Reports, and check your recent transaction history.

Note: any FHSA contributions received on the first business day of 2025 will be automatically backdated for the 2024 tax year. For any 2024 payments received after the first business day, you will need to provide us with proof of the payment date as soon as possible so that we can backdate to 2024. For more information, go to Questions about your FHSA.

To learn more about the rules for making contributions to an FHSA, see Participating in your FHSAs.

Contributing to an RESP or TFSA by Instant Deposit:

This is the final date to contribute to your RESP or TFSA by instant deposit (sent by 6 pm EST) to make sure it counts for the 2024 tax year.

Contributing to an FHSA by Instant Deposit:

This is the final date to contribute to your FHSA by instant deposit (sent by midnight EST) to make sure it counts for the 2024 tax year.

Planning your RRSP contributions and tax time:

To help you get organized, consult Important dates for tax slips. This chart tells you what tax slips or contribution receipts you could expect to receive, depending on the type of investment account you have, and when you can expect to receive them.