Just Filed Your Taxes? Here’s What Family Doctors Should Do Next

With the April 30 personal tax deadline behind you, it might be tempting to put taxes out of mind until next year. But for incorporated and self-employed family doctors, the weeks following tax season offer a valuable opportunity to get ahead — not just with the CRA, but with your overall financial strategy.

Here’s a practical post-filing checklist designed specifically for family doctors to ensure you’re making the most of this time.

1. Review Your CRA Notice of Assessment (NOA)

Once your return is processed, the CRA issues a Notice of Assessment (NOA) — a summary of your filed return, any adjustments made by the CRA, and key information such as carryforward balances or repayment requirements.

Make sure to:

• Check for discrepancies between what you filed and what the CRA assessed

• Confirm any carryforward amounts that may impact future filings or tax planning

• Flag anything unusual early, before interest or penalties can accrue

Your NOA is more than a receipt — it’s a critical planning document that can shape decisions for the rest of the year.

2. Organize and Secure Your Tax Documents

Whether you filed independently or worked with an accountant, now is the time to:

• Create a secure digital backup of all submitted tax documents

• File away receipts, statements, and confirmations used in your return

• Label and categorize key deductions that may recur (e.g. CME, professional dues, business-use-of-home expenses)

Staying organized will save you time — and prevent missed deductions — when next year’s filing season rolls around.

3. Start Planning for Your Corporate Year-End

If you’re incorporated and your fiscal year ends December 31, your corporate tax return is due by June 30. That means now is the perfect time to:

• Review your T2 return status and outstanding documents

• Confirm how income was paid out (dividends, salary, bonuses)

• Book a mid-year check-in with your accountant to identify planning opportunities

Even if your corporate year-end falls later in the year, this is a natural moment to realign your business finances with your personal goals.

Final Thoughts: Use This Momentum

Filing your taxes might feel like crossing the finish line — but really, it’s the starting point for smarter planning. With your numbers fresh and your documents in order, now is the ideal time to look ahead and refine your strategy.

At MedTax, we work year-round with family doctors to go beyond compliance — helping you align your tax planning with your practice goals and long-term financial vision.

Need help reviewing your Notice of Assessment or planning your next steps? Contact MedTax for a free 15-minute consultation today and let’s build on your momentum.