Every individual or a family wants to live a healthy and secured life. However, this year was really hard on low-income families. Inflation is rising and people with fixed or low incomes are facing financial hardship in maintaining a balance between their expenses and a healthy life. Amidst all this, the Department for Work and … Read more
The Goods and Services Tax /Harmonized Sales Tax Credit is a tax-free credit introduced by the government of Canada to support the low and moderate income families. The payment is usually made in January, April, July and October (once in three months). The GST/HST Credit aims at providing relaxation in the Goods and Services Tax. … Read more
Guaranteed Income Supplement (GIS) was designed to support the senior citizens of the country. It aims at providing financial assistance to low-income people of the country. It is a means-tested supplement focused on the income of the claimants. GIS tries to prevent the senior citizens from falling into poverty. The leading beneficiaries of the benefit … Read more
The Canadian Government initiated the Carbon Tax Rebate program in the various provinces. The main motive of this rebate program is to financially support the citizens of the country from the prices of Carbon pollution. It is a quarterly payment, provided to eligible families. Carbon Tax Rebate reimburses the funds directly to the houses collected … Read more
The Canada Revenue Agency (CRA) initiated the Canada Pension Plan (CPP) to financially support the elderly citizens of the country. It is a monthly taxable payment received by people who are 65 years old and above after their retirement. The Canadian government makes changes in the amount of CPP yearly to keep the amount indexed … Read more
In Canada, the Government has decided to increase the cost of living in 2024. In the Province, the Canadian government had decided to this change. On average, the Cost of Living is going to increase, up to 5.32%. But, to make it easier for the people to deal with the inflation, it is expected that … Read more
The Canada Revenue Agency (CRA) administers the Employment Insurance (EI) benefit program. The EI aims to provide financial support to people who have lost their jobs with no mistake of their own and are actively looking for a job. It includes people who have faced job termination, health issues, maternity and paternity needs and more. … Read more
GIC (Guaranteed Investment Certificate) is an investment plan introduced by the Canadian Government. It provides a guaranteed return on investment over a particular period of time. GICs provide a surety amongst the Canadian People to receive an amount with interest during the process. The investment ranges from 1 year to 5 years. However, according to … Read more
The fact that the age at which women are eligible to collect their state pension has been raised by five or six years has surprised a great number of women who had anticipated receiving their retirement at the age of sixty. As a consequence of this huge shift, the Women Against State Pension Inequality (WASPI) … Read more
Even if they have children, those who are receiving Universal Credit £1,739 from the Department of Work and Pensions in 2024; however, many of these tax breaks and programs are not generally known, and as a consequence, many parents are missing out on all of the advantages and support that the government provides to parents … Read more