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
As April 2025 approaches, Canadian seniors should be aware of updates to federal pension programs: Canada Pension Plan (CPP), Old Age Security (OAS), and Guaranteed Income Supplement (GIS). These programs provide essential financial support to retirees and low-income seniors. Canada Pension Plan (CPP) Enhancements The CPP underwent enhancements starting in 2019, aiming to increase retirement … Read more
The Canada Revenue Agency (CRA) administers Employment Insurance (EI) Maternity and Parental Benefits to support Canadians who are expecting or have recently welcomed a new child. These benefits provide financial assistance during a pivotal time, allowing parents to take leave from work to care for their newborn or newly adopted children. Eligibility Criteria To qualify … Read more
Your retirement savings play a vital role in securing your financial future, serving as the main source of income once you stop working. However, the Canada Revenue Agency (CRA) can take a substantial portion of your savings through taxes, forcing you to delay retirement or live on a tighter budget. While many people carefully plan … Read more
In 2025, a variety of government programs managed by the Canada Revenue Agency (CRA) will provide Canadians with an estimated total of $4,100 in direct payments. This isn’t a single lump sum, but a combination of multiple federal benefits aimed at assisting seniors, low-income workers, and families with children. The amount reflects the total from … Read more