In August 2024, Canadian retirees will experience a notable boost in their pension benefits, particularly through the Old Age Security (OAS) and Canada Pension Plan (CPP) programs. These adjustments aim to assist seniors in coping with rising living costs due to inflation. Under the new payment schedule, eligible recipients could receive combined benefits amounting to … Read more
In 2024, the Canadian Government has launched a new initiative designed to provide substantial financial support for seniors, ensuring they can comfortably cover their living expenses and maintain a decent quality of life. This program offers eligible individuals up to $5,100 a month, a significant increase in financial assistance aimed at addressing the rising cost … Read more
In Canada, the CRA (Canada Revenue Agency) manages various tax and credit-related programs aimed at assisting residents facing financial difficulties. These benefits include payments such as the Old Age Security (OAS), Canada Pension Plan (CPP), Canada Child Benefit (CCB), Canada Workers Benefit (CWB), Canada Disability Benefit (CDB), Employment Insurance (EI), and Guaranteed Income Supplement (GIS). … Read more
The Government of Canada has announced updates to the Canada Pension Plan (CPP) and Old Age Security (OAS) benefits for August 2024. These programs aim to provide financial assistance to retired and low-income Canadians over the age of 65. Recognizing a 3.4% rise in the cost of living due to inflation, the government has increased … Read more
The Canadian government provides substantial support to low-income and needy individuals through various programs managed by the Canada Revenue Agency (CRA). Recently, rumors have circulated regarding a $3900 payment by the CRA in July 2024. After thorough fact-checking, it appears no such lump sum payment is officially confirmed. However, this amount may represent the cumulative … Read more
The Government of Canada provides various pension benefits to its citizens, including the Guaranteed Income Supplement (GIS). In March 2024, the Canada Revenue Agency (CRA) announced new GIS payments for July and September 2024. Adjustments to the GIS are made quarterly—in January, April, July, and October—based on the Consumer Price Index (CPI) and Cost of … Read more
The Guaranteed Income Supplement (GIS) program, overseen by the Canada Revenue Agency (CRA), is designed to provide additional financial support to low-income seniors. Recently, rumors have spread across various websites suggesting that the Canadian government plans to issue a $3,400 GIS payment in August 2024. However, it’s essential to rely on official sources, such as … Read more
The Canada Disability Benefit (CDB) is a new initiative by the Canadian government aimed at providing financial support to individuals with disabilities. This program, which gained Royal Assent through the Canada Disability Benefits Act 2023-24, represents a significant step toward ensuring economic security for people with disabilities in Canada. Overview of the Canada Disability Benefit … Read more