Canadian retirees have a reason to celebrate as the Canada Pension Plan (CPP) undergoes a significant enhancement in May 2025. Eligible recipients will see an annual increase of up to $1,570, reflecting the government’s commitment to supporting seniors amid rising living costs. This article provides a comprehensive overview of the increase, eligibility criteria, and steps to claim the … Read more
Low- and modest-income Canadians are set to receive some welcome financial relief next week as the Canada Revenue Agency (CRA) distributes the next round of GST/HST credit payments. This tax-free quarterly benefit helps offset the burden of sales tax and provides timely support during a period of rising living costs. If you’re wondering who qualifies, … Read more
As more Canadians choose to work beyond the traditional retirement age, understanding the nuances of the Canada Pension Plan (CPP) becomes increasingly important. One key aspect is the Post-Retirement Benefit (PRB), which allows individuals to enhance their retirement income even after starting to receive CPP payments. This article delves into the details of CPP PRB, including contribution requirements … Read more
Canadian seniors choosing to remain in the workforce in 2025 may be eligible for a $1,518 annual bonus through the Canada Workers Benefit (CWB). This federal program aims to support low-income workers, including seniors who meet specific criteria. Understanding the eligibility requirements, payment schedules, and application process is crucial to maximizing this benefit. What is the Canada Workers … Read more
The Canada Carbon Rebate (CCR), formerly known as the Climate Action Incentive Payment, is a federal initiative aimed at offsetting the costs associated with carbon pricing. In 2025, the CCR continues to provide financial relief to Canadian households, particularly in provinces where the federal carbon pricing system applies. This article delves into the specifics of … Read more
As we enter 2025, many Canadian seniors are seeing changes in their retirement benefits. While there’s no ongoing $2,500 monthly increase, there are meaningful updates to Canada Pension Plan (CPP) and Old Age Security (OAS) payments. Understanding the new amounts, eligibility, and how benefits are structured can help retirees make smart financial decisions. CPP & OAS Payments 2025: Latest Amounts … Read more
The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment provided by the Canada Revenue Agency (CRA) to assist low and modest-income households in offsetting the GST or HST they pay on goods and services. In 2025, with the continued rise in living costs, this credit serves as a crucial support mechanism for many Canadians. For the payment period … Read more
The Canada Child Benefit (CCB) is a tax-free monthly payment provided to eligible families to assist with the cost of raising children under 18 years of age. For the benefit year July 2024 to June 2025, the maximum annual CCB amount has been increased to $7,787 per child under 6 and $6,570 per child aged … Read more
The Canada Revenue Agency (CRA) initiated a $2,350 one-time relief payment in December 2024 to support eligible seniors facing increased living costs. While many received this payment in December or January, some experienced delays due to processing issues. To qualify for this payment, individuals must: The CRA automatically deposits the payment into the bank accounts of eligible … Read more
In a significant workforce reduction, the Canada Revenue Agency (CRA) has announced that it will not renew contracts for approximately 1,300 term employees, effective May 16, 2025. This decision predominantly impacts staff in Atlantic Canada, raising concerns about service delivery and employee welfare. Overview of the Layoffs The CRA’s decision affects term employees—those hired for a specific period—across its contact … Read more
