In 2025, the Canada Revenue Agency (CRA) is launching a new financial assistance program aimed at helping eligible Canadians with essential living expenses. This initiative promises up to $3,900 per month to individuals and families facing financial difficulties. The goal is to ensure Canadians can manage rising costs for essential needs such as housing, food, … Read more
In 2025, Canadian retirees will experience notable changes to the Canada Pension Plan (CPP), Old Age Security (OAS), and Guaranteed Income Supplement (GIS). These adjustments aim to enhance financial support for seniors, ensuring benefits align with the rising cost of living. Enhancements to Old Age Security (OAS) Payments The OAS program provides monthly payments to … Read more
In 2024, individual taxpayers reporting capital gains or losses will have an extended filing deadline, with the Canada Revenue Agency (CRA) confirming that they can submit their returns by June 2 without incurring interest or late-filing penalties. The official deadline for filing individual T1 returns is typically April 30. Extended Deadline for Trusts Trusts that … Read more
In February 2025, eligible Canadian seniors can expect a one-time $2,400 direct deposit payment from the Canada Revenue Agency (CRA). This payment is designed to provide financial relief to seniors, particularly those facing financial difficulties due to inflation and rising living costs. Whether you are a senior, a caregiver, or someone helping a loved one, … Read more