Riverside Natural Foods, the company behind the popular MadeGood granola bars, has issued a voluntary recall for several of its products over concerns of potential metal contamination. The recall affects products distributed across Canada, the United States, and other international markets. What Prompted the Recall? The recall was initiated after the discovery of a small Continue reading
Bank of Canada Reduces Key Interest Rate to 3.25%: Signals a Shift to Gradual Policy Adjustments
The Bank of Canada (BoC) made another bold move on Wednesday, cutting its benchmark interest rate by 50 basis points to 3.25%. This marks the second consecutive half-point reduction, as the central bank continues to navigate an economy showing signs of slowing growth and stabilizing inflation. Fifth Rate Cut Since June The latest reduction is Continue reading
Ontario Electricity Support Program for Lower-Income Households: Eligibility & Amount
The Ontario Electricity Support Program (OESP) offers vital assistance to lower-income households by reducing their electricity bills. Administered by the Ontario Energy Board (OEB), this program provides direct monthly credits to eligible customers, helping to ease financial pressures while ensuring access to essential electricity services. How Does the OESP Work? The OESP reduces electricity costs Continue reading
Beware of $250 Working Canadians Rebate Scam Texts: Protect Your Information and Stay Safe
Scammers are preying on unsuspecting Canadians by sending fraudulent text messages claiming to offer instructions on how to deposit the Working Canadians Rebate. These deceptive messages are designed to steal personal information or money from recipients. It’s important to know that the Canada Revenue Agency (CRA) does not send text messages regarding benefits, credits, rebates, Continue reading
What is Ontario Low-Income Workers Tax Credit (LIFT)? How it Works
The Low-Income Workers Tax Credit, also known as the Low-Income Individuals and Families (LIFT) Tax Credit, is a valuable financial benefit for Ontario residents. This credit helps reduce or eliminate Ontario personal income tax (excluding the Ontario Health Premium) for eligible low-income workers, including minimum wage earners. Here’s everything you need to know to determine Continue reading
What do GST Free Holiday Means for Canadian Consumers – All we know so far
As Canadians gear up for the busy and often costly holiday season, Prime Minister Justin Trudeau’s government has introduced a temporary measure aimed at providing some financial relief. A two-month reduction in Goods and Services Tax (GST) and Harmonized Sales Tax (HST) has been implemented for a variety of essential items and holiday-related goods. This Continue reading
Do I Get My Husband’s CPP if He Dies? A Complete Guide to Survivor’s Pension Benefits
Losing a loved one is emotionally taxing, but understanding the financial assistance available can help provide stability. If your spouse or common-law partner was a Canada Pension Plan (CPP) contributor, you might be eligible for the CPP Survivor’s Pension—a monthly payment offered to legal spouses or common-law partners of deceased contributors. This guide provides a Continue reading
Can You Receive CPP If You Never Worked? Here’s What You Need to Know
The Canada Pension Plan (CPP) is primarily designed to provide retirement income for individuals who have contributed to it through employment or self-employment. However, exceptions and related benefits might allow someone who has not worked or contributed to the CPP to receive certain benefits. If you have never worked in Canada, you will not be Continue reading
What is the Maximum Income You Can Earn While Receiving OAS?
Working in retirement can provide financial flexibility, but it may also impact your Old Age Security (OAS) benefits through the OAS recovery tax, commonly referred to as the OAS clawback. Here’s a detailed guide on understanding and minimizing OAS clawbacks, along with strategies for managing your income in retirement. Understanding the OAS Clawback The OAS Continue reading
Can You Get OAS If You Never Worked in Canada? Here What You Need to Know
The Old Age Security (OAS) pension is a cornerstone of retirement income for Canadians, providing financial support regardless of your employment history. Here’s a comprehensive guide to understanding eligibility, including special cases and additional benefits. Can You Receive OAS If You Have Never Worked? Yes, you can! Your employment history does not affect your eligibility Continue reading