As of 2024, Canadian seniors may see a significant increase in their Old Age Security (OAS) payments due to additional government support. This extra deposit is part of the government’s ongoing efforts to provide financial relief to seniors amidst rising living costs. Let’s break down what this $1,200 bonus means, who qualifies, and when seniors … Read more
As the cost of living rises, financial security in retirement has become a significant concern for seniors. Many rely on a combination of government benefits, pensions, and savings to cover their expenses. In 2024, a monthly benefit of up to $1,200 will be available to retired seniors, helping them to maintain their quality of life. … Read more
The Canada Revenue Agency (CRA) has exciting news for small and medium-sized enterprises (SMEs) across Canada regarding the Canada Carbon Rebate. This refundable tax credit aims to return a portion of the federal fuel charge proceeds directly to eligible Canadian-controlled private corporations (CCPCs). What is the Canada Carbon Rebate? The Canada Carbon Rebate for Small … Read more
If you’re an immigrant in Canada who just received your citizenship papers, it’s time to celebrate! One exciting way to do so is through the country’s numerous legal bookies and casinos. However, navigating the online gambling landscape in Canada can be complex, especially with the significant changes that have occurred in recent years, including the … Read more
The Immigration, Refugees, and Citizenship Canada (IRCC) has extended the temporary public policy that exempts certain low-risk foreign nationals in Canada from undergoing an additional Immigration Medical Examination (IME). Initially introduced two years ago, this policy has benefited over 286,000 applicants and will remain in effect until October 5, 2029. This extension is designed to … Read more
The Goods and Services Tax (GST) credit is a tax-free quarterly benefit provided to low- and middle-income Canadians to offset the GST/HST they pay on goods and services. The GST credit plays a vital role in helping Canadians manage their expenses. With the next set of payments approaching, here’s a detailed look at the GST … Read more
As we move into 2024, Canadian workers and employers need to stay updated on changes to the Canada Pension Plan (CPP) contributions. These contributions play a crucial role in providing retirement, disability, and survivor benefits. In 2024, there will be adjustments to the contribution rates and maximum contribution amounts that impact employees, employers, and self-employed … Read more
The Employment Insurance (EI) program is a key component of Canada’s social safety net, providing temporary financial assistance to individuals who are out of work or unable to work due to illness, maternity, parental leave, or other qualifying reasons. Each year, the maximum EI contribution is adjusted to reflect changes in the economy and wages. … Read more
In 2024, Canadian workers can expect increases in minimum wages across various provinces, reflecting the federal and provincial government’s efforts to keep up with inflation and living costs. This wage hike affects millions of workers and plays a crucial role in enhancing financial security for those working in minimum-wage jobs. In this article, we explore … Read more
As the Canada Revenue Agency (CRA) gears up for October 2024, Canadians who rely on various government benefits are eager to know when their payments will be deposited. Whether you are receiving the Canada Child Benefit (CCB), the Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit, or the Canada Workers Benefit (CWB), it is crucial … Read more