I'm thinking I might go to Canada next year.

Literal

Next-year [topic-は] Canada [to-に] go-volitional-[question-か]-[quotative-と] thinking.

A common indecisive-future pattern: ~(volitional)+か+と+思う = 'I'm thinking maybe I'll X.' Literally 'I'm thinking [with the thought] should I go?' — the volitional + か captures the speaker's internal deliberation, と frames it as the content of thought, 思っている ('am thinking,' with ~ている) shows it's ongoing. Drops the い of 思っている to 思ってます — a very common casual-spoken contraction.