In 2025, the Canadian government continues its commitment to supporting low- and middle-income Canadians through the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) credit. This quarterly, tax-free payment aims to offset the GST/HST paid on everyday purchases, providing financial relief to eligible individuals and families. Overview of the GST/HST Credit The GST/HST … Read more
On April 1, 2025, Canada witnessed an increase in its federal minimum wage, rising to $17.30 per hour. This wage increase is part of a broader initiative aimed at ensuring fair wages for workers across the country. Alongside the federal adjustment, several provinces have also raised their minimum wages, benefiting a wide range of workers, … Read more
The Canada Child Benefit (CCB) is a significant tax-free financial support program aimed at helping families with the costs associated with raising children. For the 2025 benefit year, Canadian families with children under 18 years of age can receive up to $7,787 per child under the age of 6, and up to $6,570 per child between 6 and 17 years old. This … Read more
Navigating the Canada Revenue Agency (CRA) tax transcript can feel like an overwhelming task, particularly due to the multitude of codes used to indicate different statuses of your tax return. These codes are essential for tracking the progress of your return, identifying potential issues, and taking action if needed. As we approach the 2025 tax … Read more
The Guaranteed Income Supplement (GIS) is a vital financial assistance program designed to support low-income seniors aged 65 and older in Canada. This non-taxable benefit, administered alongside the Old Age Security (OAS) pension, undergoes quarterly adjustments based on the Consumer Price Index (CPI) to reflect inflation and changes in the cost of living. For the … Read more
The GST/HST refund program, introduced by the Canadian government and managed by the Canada Revenue Agency (CRA), offers financial relief to low-income individuals and families who pay regular taxes. This non-taxable payment is issued four times a year, with the next scheduled payment date for April 2025 being April 5. To ensure eligibility and timely … Read more
The question of whether Alberta should create its own provincial pension plan or remain part of the Canada Pension Plan (CPP) has resurfaced, fueled by a recent report. The topic was previously raised by a 2023 report commissioned by the Alberta government, which sparked debate about the province’s financial contributions to the CPP. Key Findings … Read more
If you’re a low-income worker in Canada, the Canada Workers Benefit (CWB) could put extra money in your pocket in 2025. With a maximum benefit of up to $2,739 for families and $1,518 for single individuals, the CWB provides much-needed support for those trying to make ends meet. Even better? The payments are made in advance throughout the year. Here’s … Read more
The Goods and Services Tax (GST) credit is an essential financial benefit for Canadian individuals and families with low or modest incomes. It helps offset the cost of the GST or HST paid on goods and services. For 2025, there have been updates to the GST payment amounts and schedules, and beneficiaries should be aware of these changes to ensure they receive the … Read more
The Old Age Security (OAS) payment is one of Canada’s primary financial support programs for seniors. The $2,455 OAS payment in 2025 has raised questions about eligibility, calculation, and payment dates. This article will walk you through everything you need to know about the OAS program, including how to qualify, payment dates, and tips to … Read more