December is the month most brokers spend chasing files that need to fund before the holidays. It is also the last chance to sort the tax, licensing and compliance items that turn into expensive problems in March. Here is the list, province by province, with the 2026 numbers.
1. Licensing, by province
British Columbia. The Mortgage Services Act comes into force on 13 October 2026. Registrations that completed the transition education become licences on that date. Licences run on a two year cycle, and anyone renewing on or after 13 October pays the new fees: 2,000 dollars for an individual renewal and 3,000 dollars for a brokerage. The BCFSA Legal Update course is still required for each two year renewal, and BCFSA recommends starting at least eight weeks before your expiry date. Check your expiry now so the course does not collide with year end.
Alberta. Every licence expired on 30 September. If yours renewed, the next date is 30 September 2027. If it did not, RECA cancelled it automatically. Inside the first year your broker can start a reinstatement application with no extra requirements, and the fee is 525 dollars. RECA has not yet published the relicensing education for the 2026 to 2027 year, so watch for it. Our guide to Alberta renewal and reinstatement has the detail.
Ontario. Licences renewed this spring expire on 31 March 2027, at 841 dollars for a Level 1 agent and 883 dollars for a Level 2 agent or broker. Continuing education runs on a two year cycle due in even years, so the next CE deadline should be 31 March 2028. Confirm with FSRA before you skip it.
Our compliance calendar tracks these dates for all three provinces.
2. CPP, if you are self employed
As a commissioned broker you pay both halves of CPP. For 2026 the rate is 11.9 percent on earnings between the 3,500 dollar exemption and 74,600 dollars, a maximum of 8,460.90 dollars. CPP2 adds 8 percent on earnings between 74,600 and 85,000 dollars, a maximum of 832 dollars. If your year has been strong, set that money aside now so it does not land on top of your April tax bill.
3. Instalments and filing dates
If you owed more than 3,000 dollars in tax for 2026 and for either of the two prior years, CRA expects quarterly instalments. The last one for the year is due on Tuesday 15 December. Self employed individuals file by 15 June 2027, but any balance owing is due by 30 April 2027. Interest runs from April, not June.
4. RRSP and TFSA
The 2026 RRSP limit is 33,810 dollars, or 18 percent of last year's earned income if that is lower. Contributions for the 2026 tax year can be made until 60 days after year end, which is 1 March 2027. The TFSA limit for 2026 is 7,000 dollars. For a broker with lumpy income, an RRSP contribution in a big year is one of the few simple ways to smooth the tax.
5. GST and HST on what you earn
CRA's own guidance treats a licensed broker's service of arranging a mortgage, paid by the lender, as an exempt financial service. No GST or HST is charged on it, and you cannot claim input tax credits on the expenses behind it. Services that only collect and pass on information, or standalone consulting not tied to arranging a loan, can fall outside that exemption and be taxable. If you charge broker fees, run a referral business or rent desk space, ask your accountant which side of the line each income stream sits on before year end.
6. Incorporation
In BC, the Mortgage Services Act allows eligible brokers to be paid through a personal mortgage corporation from 13 October. Incorporating is a tax and licensing decision, not a paperwork one. If you are considering it, start the conversation with your accountant in November so the structure is ready for January. Our post on personal mortgage corporations in BC covers the basics.
7. FINTRAC
Mortgage brokers became FINTRAC reporting entities on 11 October 2024. Your compliance program needs an effectiveness review at least every two years, measured from the start of the previous one, with written findings to a senior officer within 30 days. If your program started in October 2024, plan that first review now. Training has to be ongoing and written down, and since 26 March 2026 FINTRAC can impose higher penalties and new compliance orders. A real estate brokerage was fined 107,250 dollars in February for having no policies, risk assessment, training or review. At most brokerages the program sits with the brokerage, so ask yours when its review is scheduled.
8. Your own book
The most profitable item on this list is not a tax one. Pull every mortgage in your book that matures in 2027 and put a call in the calendar 120 days before each date. With fixed rates rising this fall, a rate hold placed early protects your client and keeps the renewal with you. Our Q4 rate outlook explains why the timing matters this year.
Then look at the year as a whole. Funded volume, number of files, average file size, where your deals came from and what you netted after fees. If the net number surprises you, our guide to comparing brokerage offers on net income will show you whether the problem is your volume or your brokerage, and our guide to what mortgage brokers make shows where your year sits.
The short version
- Check your licence expiry and education requirement in every province you hold one.
- Set aside CPP and tax, and pay the 15 December instalment if you owe one.
- Decide on your RRSP contribution before 1 March 2027.
- Confirm the GST treatment of every income stream with your accountant.
- Book a FINTRAC effectiveness review if one is due.
- Put every 2027 renewal in your calendar at 120 days.
Dates and figures are as published by CRA, BCFSA, RECA, FSRA and FINTRAC at the start of October 2026. A few 2027 dates are calculated from the published rules and not yet posted by the agency, so confirm them before relying on them. This is general information, not tax or legal advice.