The delay in implementing the capital gains inclusion rate increase until January 1, 2026, has triggered a series of relief measures by the Canada Revenue Agency (CRA). These measures aim to mitigate uncertainty for taxpayers and tax professionals during this transitional period. CRA Relief Announcements Extension of Filing Deadlines and Penalty Relief On January 31, … Read more
The Canada Revenue Agency (CRA) has confirmed that eligible Canadian seniors will receive a pension payment of up to $2,166 in February 2025. This important announcement has raised several questions surrounding eligibility, application processes, and the specifics of the payment. This article will provide a comprehensive breakdown of the details, helping you navigate the system … Read more
As February 2025 approaches, eligible Canadian seniors can receive a direct deposit of up to $2,200 from the Canada Revenue Agency (CRA). This amount comprises payments from Old Age Security (OAS), the Guaranteed Income Supplement (GIS), and the Canada Pension Plan (CPP). Understanding eligibility criteria, payment dates, and the application process ensures that seniors receive … Read more
Significant changes are coming to the Canada Pension Plan (CPP) in 2025, with higher benefit amounts set to improve the financial security of Canadian retirees. The CPP Increase 2025 is designed to counteract the effects of inflation and rising living costs, ensuring that retirees receive greater monthly payments to better manage daily expenses. This comprehensive … Read more
As living costs continue to rise, the Canadian government has implemented a one-time Extra GST Payment 2025 program designed to provide much-needed financial relief to low- and modest-income households. This supplementary benefit, administered by the Canada Revenue Agency (CRA), is intended to bolster the regular GST/HST credits and help eligible families manage everyday expenses more … Read more
Tax season in Canada is an ideal time to ensure that every eligible deduction and credit is claimed. With the Canada Revenue Agency (CRA) now accepting tax filings, experts recommend several strategies to increase tax refunds. The following guide outlines seven proven methods to help Canadians get the most out of their income tax return. … Read more
As the 2025 tax season approaches, Canadian taxpayers have a prime opportunity to reduce their tax liabilities by leveraging available credits and deductions. Understanding and claiming these benefits can lead to significant savings. Here are three substantial tax breaks to consider for your 2025 tax return. 1. Home Buyers’ Amount Purchasing a home is a … Read more
Seniors across Canada depend on government support to help maintain their quality of life during retirement. Recently, discussions have been circulating about a special $2,400 CRA direct deposit payment for seniors. Many Canadians are eager to find out whether they are eligible for this financial aid. However, as of February 2025, there is no confirmed … Read more
