How do I add a backup factor to my CRA account?

Sign in to My Account, open your security settings, and add a second method, such as an authenticator app or phone-based code. Confirm your email and phone. Test the backup before tax time. Keep recovery codes in a safe place to avoid lockouts during peak weeks.

How fast are online tax refunds in Canada?

Electronic returns are typically processed in about two weeks when direct deposit is enabled. Paper returns can take roughly 12 weeks. Accuracy matters, so review slips and totals before filing. Early filing avoids peak congestion and helps the Canada Revenue Agency process your return sooner.

Is paper filing still okay for the 2026 tax season Canada?

Yes, paper filing is allowed, but it is much slower. Expect longer processing times and delayed refunds versus e-file. If you must mail a return, keep copies and use a trackable method. For speed and accuracy, most Canadians should file online and choose direct deposit.

What should investors watch during tax season in Canada?

Track signals of earlier refunds, such as rising card volumes and e-commerce activity in late Q1. Retail, travel, and dining can see short-term boosts when refunds land. Faster processing by the Canada Revenue Agency can shift the timing of demand, affecting near-term revenue trends.

Global Market Insights

Canada Revenue Agency February 14: Backup MFA, Faster Online Filing

ByDanny Kontos February 14, 2026February 14, 2026

The Canada Revenue Agency is pushing a smoother, faster 2026 tax season in Canada. A new backup multifactor authentication option helps protect CRA accounts and reduce lockouts. With about 93% of Canadians already filing online, the agency is also adding digital tools, more staff, and Saturday hours. Electronic returns are processed in about two weeks versus roughly 12 weeks for paper. Faster refunds can pull spending forward, which matters to investors tracking consumer activity. We break down what is new, why it matters, and how to prepare.