82 - 2026 New Year Tax Law Updates

Want to dive deeper into topics like this? Master your journey with Physician Empowerment’s Masterclass Membership—your gateway to exclusive content, expert-led sessions, and actionable strategies to elevate your personal and financial well-being. Learn more and join us today! https://www.physempowerment.ca/masterclass—In this episode, Dr. Wing Lim welcomes tax lawyer and Masterclass Faculty Member Jason Pisesky to review the 2026 federal tax updates and what they mean for Canadian physicians and incorporated professionals. While there were no sweeping tax reforms, Jason details moderate middle tax bracket cuts, the return of electric vehicle tax credits, and targeted changes aimed at curbing aggressive tax planning strategies. For physicians focused on year-end planning and tax optimization, this episode provides a practical overview of what has changed and what remains steady in the Canadian tax landscape.Wing and Jason offer a comprehensive review of Canada’s registered accounts, including the RRSP, TFSA, First Home Savings Account, Registered Education Savings Plan, and Registered Disability Savings Plan. Jason outlines contribution limits, and he and Wing discuss tax treatment on withdrawal, matching grants, and planning opportunities such as the Home Buyers’ Plan and income splitting through spousal RRSPs.  For medical professionals dealing with fluctuating income and long-term wealth planning, this episode reinforces the importance of understanding tax-advantaged accounts and coordinating with accountants and financial advisors. Having a stable financial team means making proactive decisions early in the calendar year rather than at tax filing season.About Jason Pisesky:Jason is a tax lawyer with international accounting firm KPMG and a Physician Empowerment Masterclass Faculty Member. His practice background is extensive and includes personal and corporate tax planning as well as litigation and dispute resolution. Whether you are scaling up your practice or winding it down, proper coordination between a tax lawyer and your accountant can ensure you're doing it right.__Physician Empowerment: Attend an upcoming Empowerment RetreatJoin the Physician Empowerment Masterclass nowWebsite: PhysEmpowerment.ca Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.