An increase in monthly benefits under the Old Age Security (OAS) system has been announced by the government, giving Canadian retirees cause to look forward to 2025. This program is a component of Canada’s social welfare plan to help senior persons financially. Given the growing cost of living, this rise will be essential to seniors’ … Read more
Rumor surfacing around the internet that the Canadian government can release sufficient funds to help renters in reducing higher rental charges. It is reducing people’s financial situation due to low income and higher rent charges. Therefore, CRA is providing financial support of $2600 Rent Relief Benefits to help in meeting their needs. You can also … Read more
In order to help its residents, the Canadian government works on a number of initiatives, one of which is the Canada Pension Plan. Many individuals are already receiving benefits from this plan and were anticipating the announcement of $1,570 CPP Increase for Retirees Coming in April 2025. Before submitting an application for this assistance program, … Read more
As inflation and the cost of living continue to rise, many Canadians are asking if the federal government would increase the Goods and Services Tax (GST) in order to support essential public services or assist balance the budget. A Massive $4,200 GST Relief Rebate for Seniors to offer qualifying citizens GST relief has been launched … Read more
A new GST one time rebate proposed by the Canadian government would help low- and modest-income individuals and families starting in mid-2025. Just to keep support up with the growing cost of living, CRA Issues $3,000 One-Time GST Rebate 2025 is a part of the annual adjustment based on inflation. With the rising costs of … Read more
The RRSP Contribution Limits for 2025 have been increased to $32,490, which is equivalent to 18% of your prior year’s earning income, whichever is lower. Any unused RRSP contribution room that was not used in previous years may also be carried over. Contributions to an RRSP that qualify for a tax deduction in the previous … Read more
The three main pillars of Canada’s retirement support system are OAS, GIS and CPP and to better represent the financial realities that seniors have been facing, these programs have received significant adjustments in 2025. With rising living costs and inflation, OAS, GIS & CPP May 2025 Adjustments are meant to help retirees maintain a steady … Read more
One of the many advantages offered to Canadians by the government is the OAS pension. Under OAS, the Canada’s low-income seniors get a monthly payment from CRA. We now have Major OAS Changes Coming in 2025 for seniors, as they are the group most affected by increasing inflation since they rely on a fixed income. … Read more
A government-sponsored retirement program, the Canada Pension Plan (CPP) offers qualified Canadians who have made contributions throughout their working years financial support. Employer and employee payroll deductions are used to support the plan, and self-employed people pay the entire amount. Although CPP payments can start as early as age 60, monthly payments can rise dramatically … Read more
Canadian seniors may collect financial benefits from the federal government to help them in their older age. CRA can release a $1999 GIS Top-Up in April 2025 to help seniors meet their financial needs. This financial benefit can reduce your financial stress and support to meet the necessary spending. People meeting certain criteria can collect … Read more