Canadian families will receive increased financial relief this spring through the Canada Child Benefit (CCB). In response to inflation and the rising cost of living, the Canada Revenue Agency (CRA) has confirmed an updated benefit schedule for May 2025. The next disbursement is set for May 17, 2025, with new rates reflecting a 4.7% adjustment to help families meet … Read more
In a welcome update for Canadian retirees, the government has confirmed a monthly benefit boost of up to $3,500 for qualifying seniors. This figure represents the combined value of Old Age Security (OAS), Canada Pension Plan (CPP), and the Guaranteed Income Supplement (GIS)—a substantial support structure designed to ease financial pressures for older adults in 2025. This announcement is especially … Read more
If you’re facing a tax bill in Canada, paying on time is crucial to avoid additional penalties and interest. The Canada Revenue Agency (CRA) makes it relatively easy to settle your taxes in various ways, including using a credit card. However, before swiping your card, it’s essential to understand how the process works, the benefits, … Read more
In May 2025, eligible Canadian seniors are expected to receive up to $2,400 through combined benefits from the Canada Pension Plan (CPP), Old Age Security (OAS), and the Guaranteed Income Supplement (GIS). While this amount is not a one-time lump-sum payment, it represents the total monthly income that qualifying seniors could receive, depending on individual eligibility and income circumstances. Understanding … Read more
As the cost of living continues to rise, many Canadians are feeling the pinch, especially when it comes to essential items like groceries, gas, and housing. In response to this ongoing challenge, the Government of Canada has introduced the $250 GST Relief Payment in 2025. This one-time, tax-free payment is intended to provide targeted financial … Read more
Many Canadians may notice an unexpected deposit in their accounts this June 2025. These extra credits from the Canada Revenue Agency (CRA) could stem from ongoing benefits, tax adjustments, or retroactive top-ups. If you’ve filed your taxes and meet eligibility criteria, you might be in line for one of these payments. Here’s a full breakdown of what to watch … Read more
The $628 Grocery Rebate is a special one-time financial support measure introduced by the Canadian government to help low- and moderate-income families cope with rising grocery prices. As inflation continues to impact household budgets, this rebate aims to offer timely assistance for those most affected. This rebate will be delivered as a lump-sum payment and is designed … Read more
The Canada Carbon Rebate (CCR), previously known as the Climate Action Incentive Payment (CAIP), continues to provide crucial financial assistance to Canadian households. Designed to offset the rising costs of carbon pollution, the CCR remains a cornerstone of the federal carbon pricing initiative. Managed by the Canada Revenue Agency (CRA), the rebate is issued quarterly and is … Read more
Recently, there have been widespread headlines about a May 2025 extra $4,200 CPP payment every month, but is this really true? In reality, there is no official $4,200 monthly CPP payment. Instead, the Canada Pension Plan (CPP) is undergoing significant enhancements that will improve retirement benefits starting in 2025. While the changes will lead to … Read more