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
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 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
In 2025, Canadian parents have access to financial support through Employment Insurance (EI) maternity and parental benefits, as well as the Canada Child Benefit (CCB). Understanding these benefits is crucial for effective family financial planning. EI Maternity and Parental Benefits EI maternity and parental benefits provide temporary income support to parents during periods they are away … Read more
Canadians across the country may be in for a financial boost this spring. Starting in April 2025, qualified individuals and families can receive up to $4,100 through a combination of Canada Revenue Agency (CRA) benefit programs. This payout is not a one-time lump sum but a total value based on various government support programs, including benefits for seniors, families, low-income … Read more
As Canada faces rising costs of living, the government is stepping in to provide financial relief through the Canada Additional GST Payment. This tax-free payment is designed to help low- and middle-income Canadians manage essential expenses, offering a much-needed financial cushion. The Canada Revenue Agency (CRA) calculates the payment based on your income tax return … Read more