As May 2025 approaches, eligible Ontario residents are preparing for the next installment of the Canada Trillium Benefit (CTB). This tax-free monthly payment supports low-to-moderate-income households by combining three key credits: the Ontario Energy and Property Tax Credit (OEPTC), the Northern Ontario Energy Credit (NOEC), and the Ontario Sales Tax Credit (OSTC). The Canada Revenue … Read more
The Canadian government has officially approved the Canada Disability Benefit, offering $2,400 per year to eligible individuals with disabilities. The aim is to improve quality of life and ease financial burdens associated with healthcare, living costs, and support services. Set to roll out from July 2025 to June 2026, this benefit is a critical step … Read more
To ease the burden of rising living costs, the Canadian government has introduced a new Canada Family Benefit (CFB) for 2025, providing $445 monthly payments to eligible families with children under 18. This initiative enhances existing child support programs and plays a key role in reducing child poverty and supporting household affordability. Here’s everything you … Read more
Thousands of Canadian seniors could see a $1,999 Guaranteed Income Supplement (GIS) top-up payment arriving this month, but not everyone qualifies. This financial boost is part of the Canadian government’s commitment to support low-income seniors who receive the Old Age Security (OAS) pension but still struggle to meet their basic living expenses. While many await … Read more
In response to rising grocery prices and inflation, the Canadian government has introduced a one-time $628 Grocery Rebate for eligible low- and middle-income households. Administered by the Canada Revenue Agency (CRA), this rebate aims to provide financial relief to Canadians struggling with the increased cost of living. Payments commenced in April 2025 and continue into … Read more
In 2025, Canadian seniors have the opportunity to receive up to $2,500 per month by combining benefits from the Canada Pension Plan (CPP), Old Age Security (OAS), and the Guaranteed Income Supplement (GIS). These enhancements aim to provide greater financial stability for retirees. This article outlines the details of each program, eligibility criteria, and strategies … Read more
As summer expenses rise, millions of Canadians are looking forward to their Canada Carbon Rebate July 2025 payment, officially known as the Climate Action Incentive Payment (CAIP). This quarterly benefit, designed to help offset the rising cost of federal carbon pricing, is automatically issued by the Canada Revenue Agency (CRA) to eligible residents across eight provinces. If you’ve filed your 2024 income tax return, … Read more
The Canada Revenue Agency (CRA) has introduced significant tax changes for 2025 that will impact everything from paychecks to investments and long-term financial strategies. These updates include revisions to federal and provincial tax brackets, new Canada Pension Plan (CPP) contribution rules, and a proposed increase in the capital gains tax inclusion rate. Whether you’re a … Read more
Rumors of a $4,200 Canada Pension Plan (CPP) payment in May 2025 are circulating online, but the reality is very different. There is no official $4,200 one-time CPP payout scheduled by the Government of Canada. Instead, monthly CPP benefits remain consistent with annual indexing based on contribution history. Let’s break down the facts about CPP … Read more
In 2025, the Canada Pension Plan (CPP) is undergoing significant enhancements, resulting in an annual increase of up to $2,999 for eligible retirees. While this boost aims to provide greater financial security for seniors, experts are raising questions about the long-term sustainability of these changes. Understanding the 2025 CPP Enhancements Key Changes: Impact on Retirees: … Read more
