In 2025, the Canada Revenue Agency (CRA) continues to provide financial support to low-income seniors through the Old Age Security (OAS) and the Guaranteed Income Supplement (GIS) programs. Combined, these benefits can offer up to $2,460 annually in additional support, helping seniors manage daily expenses amidst rising living costs. Eligibility Criteria To qualify for the … Read more
As the tax deadline in Canada approaches, those who have not yet filed their 2024 income tax return should start preparing. The Canada Revenue Agency (CRA) has issued reminders for Canadians to act quickly, as missing the deadline can lead to hefty penalties and delayed government benefits. Current Filing Status in Canada As of last … Read more
The Canada Disability Benefit (CDB), established through Bill C-22, is a federal initiative aimed at providing financial assistance to working-age Canadians with disabilities. The benefit seeks to reduce poverty and enhance financial security for eligible individuals. The finalized regulations came into effect on May 15, 2025, with the first payments scheduled for July 2025, covering … Read more
In 2025, Canadian seniors could receive up to $1,433 per month through the Canada Pension Plan (CPP), administered by the Canada Revenue Agency (CRA). This benefit is designed to provide financial stability for retirees who contributed to CPP throughout their working life. The monthly amount is adjusted annually based on inflation and cost of living indexes. This article outlines … Read more
The Canada Revenue Agency (CRA) is currently distributing its final Canada Carbon Rebate (CCR) payments to eligible Canadians. However, the CRA has also revealed that it may have overpaid some individuals and is now seeking to recover those funds. Overpayments and the Rural Supplement In a recent update, the CRA mentioned that the rural supplement … Read more
