In April 2025, the Government of Canada, through the Canada Revenue Agency (CRA), is issuing a one-time, tax-free payment of $250 to assist Canadians in managing the rising cost of living. This payment is designed to support middle and lower-income individuals and families with essential expenses. Eligibility Criteria To qualify for the $250 payment, individuals … Read more
The Old Age Security (OAS) program is one of Canada’s most important financial supports for seniors. In 2025, Canadian seniors will see a significant boost in their OAS payments, with increases of up to $2,350 annually. This article will cover the details of the upcoming OAS payment increases, who is eligible, and how you can make sure you’re receiving the … Read more
Raising children is one of life’s most rewarding experiences, but it also brings its share of financial challenges. To help ease this burden, the Canadian government offers the Canada Child Benefit (CCB), a tax-free monthly payment aimed at assisting eligible parents and guardians with children under 18. For the 2024–2025 payment period, families can receive … Read more
The Canada Revenue Agency (CRA) has outlined new tax deferral measures to support businesses struggling with the impact of tariffs. The federal government announced these deferrals on March 21, which will help companies manage their financial challenges in the coming months. Here’s an in-depth look at what these changes entail. Tax Deferral Overview The Canadian … Read more
As Canadians age, many find themselves facing increased financial pressures due to rising living costs, medical bills, and other essential expenses. The Old Age Security (OAS) program, administered by the Canada Revenue Agency (CRA), offers monthly financial support to those aged 65 and older. With the upcoming OAS payment increase in April 2025, eligible seniors … Read more
Canada’s tax system provides various reliefs, including the Canada Student Tax Credits, aimed at reducing financial burdens on students. The Canadian government, under Prime Minister Justin Trudeau, has introduced several updates for 2025, ensuring students can benefit from these credits more effectively. The following guide provides essential details on how these tax credits work, eligibility … Read more
If you’re a senior living in Canada, you might have heard about the $1,717 GIS payment increase expected in 2025. This news has sparked a lot of interest, especially among Old Age Security (OAS) pension recipients. While the specific amount of this increase has not been confirmed by the government yet, this guide will explain … Read more
Canadian seniors have reason to celebrate as a special $1,600 CPP bonus payment is set to roll out in April 2025. This one-time financial boost is part of ongoing efforts to support retirees as living expenses continue to rise. If you’re receiving CPP or nearing eligibility, here’s everything you need to know about the payment amount, qualifications, and … Read more
Are you a senior citizen in Canada eagerly waiting for some financial relief in 2025? Good news! The federal government has announced significant increases to Old Age Security (OAS) and the Canada Pension Plan (CPP) that could boost your income by $1,400 to $2,600 this year. Here’s everything you need to know about the payment hikes, eligibility, schedules, and what steps … Read more
The Canada Pension Plan (CPP), Old Age Security (OAS), and Veteran Disability Pension payments are scheduled for release this week. Additionally, Ontario Disability Support Program (ODSP) payments will be available on the last day of March. Here’s a detailed breakdown of when each payment will be issued: Payment Dates for March 2025 If you’re entitled … Read more
