In March 2025, Canadians will receive a one-time Extra GST Payment designed to provide financial relief to low- and moderate-income families. This payment will help those struggling with the rising cost of living, particularly during the holiday season. This article will explain the eligibility criteria, how much you can expect to receive, and the process … Read more
In a bid to ease rising living costs, the Canadian government is set to issue a Canada $250 GST Relief Payment in March 2025. This tax‐free, one-time supplement to the regular GST/HST credit is designed to support over 18.7 million Canadian households by offsetting increased expenses—especially during the holiday season when costs typically soar. What … Read more
As individuals age, managing daily expenses becomes increasingly challenging, especially with reduced earning capacities. To support seniors in maintaining their standard of living, the Canadian government offers the Old Age Security (OAS) program. In 2025, notable adjustments have been made to OAS payments to align with inflation and the rising cost of living. This article … Read more
In 2025, the Canada Revenue Agency (CRA) is expected to introduce a $3,100 Old Age Security (OAS) pension bonus. This potential bonus has generated considerable interest, especially among retirees and individuals planning their post-retirement finances. In this article, we’ll explore the details of the bonus, its eligibility criteria, and when the payments may be made. … Read more
The Disability Tax Credit (DTC) is a crucial financial relief for eligible individuals, yet many who qualify do not claim it. The 2024 annual report from the Canada Revenue Agency (CRA)‘s Disability Advisory Committee highlights major obstacles that contribute to the underutilization of this credit. These challenges include a complex application process, difficulties with tax … Read more
The Canada Child Benefit (CCB) 2025 continues to play a vital role in supporting families across Canada. This government-administered program provides monthly tax-free payments to help cover the essential costs of raising children under the age of 18. With adjustments to payment amounts and improved application systems in response to rising living costs, the CCB … Read more
The Canada Revenue Agency (CRA) is set to distribute three major financial benefit payments in March 2025, targeting families, individuals, and households across Ontario. This initiative is part of the government’s ongoing effort to address rising living costs and enhance financial stability for Canadians. Whether you’re a parent, a senior, or someone managing household expenses, … Read more
In a welcome financial relief for Canadian families, the Canada Child Benefit (CCB) is set to increase starting July 2025, coinciding with the 2025-2026 benefit year. This adjustment aims to support households facing rising costs and inflation. The revised CCB payments will see a 2.7% increase, aligning with inflation trends. This means families can now … Read more
Since February 5, 2024, more than 33 million tax returns have been filed by Canadians. Among them, a small percentage opted for a quick and simple method—filing by phone. This process, which takes approximately 10 minutes, is facilitated through the Canada Revenue Agency (CRA)’s SimpleFile by Phone (SFP) service. Despite being a lesser-used method, 51,555 … Read more
Owning a home is a major milestone, but for many first-time buyers, the financial burden can be overwhelming. Fortunately, the Canada Revenue Agency (CRA) is offering an $8,000 tax benefit in March 2025 to help eligible individuals achieve their homeownership dreams. This benefit is provided through the First Home Savings Account (FHSA) and offers substantial … Read more