You can absolutely continue working while receiving CPP benefits. There’s no mandatory retirement age in Canada, and your employment status doesn’t affect your eligibility for CPP. Age and Your CPP Benefits Do Age Matters? Yes, age significantly impacts your CPP benefits. Post-retirement benefits are additional amounts added to your CPP pension for each year you Continue reading
ODSP Hidden Benefits: Know What Common Disabilities Qualify for ODSP Extra Hidden Benefits
Discover the hidden benefits of ODSP, including common disabilities that qualify and additional perks you might not be aware of. Learn about the extra support and services available to maximize your Ontario Disability Support Program benefits. Stay informed and make the most of your entitlements. Disclaimer: Determining eligibility for ODSP is a complex process that Continue reading
Ontario Trillium Benefit (OTB) Payment Coming in Dec 2024: How Much You Can Receive?
The Ontario Trillium Benefit (OTB) is designed to assist low- to moderate-income Ontario residents with essential expenses such as energy costs and property and sales taxes. This financial support is issued monthly and combines three provincial tax credits: The Canada Revenue Agency (CRA) administers the payments on behalf of the Ontario government. Eligibility Requirements To Continue reading
RRSP Withholding Tax: Is It Refundable? Everything You Need to Know
he Registered Retirement Savings Plan (RRSP) is a popular tax-advantaged investment account in Canada, designed to help Canadians save for retirement while reducing their taxable income. However, when it comes time to withdraw funds from an RRSP, a withholding tax is applied, which often raises questions about its refundability. In this article, we’ll break down Continue reading
Canadian Seniors Ineligible for the $250 Federal Rebate?
The Liberal government’s announcement of a $250 inflation-relief rebate—dubbed the “Working Canadians Rebate”—has sparked criticism from Canadian seniors, who are ineligible for the payment. This measure, aimed at alleviating financial stress, applies exclusively to individuals who worked in 2023 and earned $150,000 or less. However, retirees and those on fixed incomes, such as seniors receiving Continue reading
$628 Grocery Rebate in Canada 2024: Your Guide to Relief from Inflation
Do you live in Canada and find yourself troubled by inflation? Great news! The Canadian government is rolling out a $628 Grocery Rebate in 2024. This initiative is designed to provide financial relief to millions of families facing rising grocery costs. But how can you determine if you’re eligible, when you’ll receive the rebate, and Continue reading
$250 Working Canadians Rebate 2025: Eligibility and Distribution Details
The Trudeau government has announced a $250 rebate for eligible Canadian workers to provide relief from rising living costs. Here’s a breakdown of eligibility criteria, timelines, and delivery details for this tax-free benefit. Eligibility Criteria To qualify for the $250 rebate, you must meet the following conditions: CPP Payment Dates 2025: Increases & Amounts OAS Continue reading
Claiming Gas and Vehicle Expenses on Taxes in 2025: A Complete Guide for Canadians
Can You Claim Gas on Your Taxes? Yes, if you use your vehicle for work-related purposes, you can claim gas expenses on your income tax return. But did you know gas is just one of many deductible vehicle-related costs? From maintenance to insurance, there are multiple ways to maximize your tax savings. How to Claim Continue reading
What Expenses Can You Claim on Your Taxes in 2025?
Filing your income tax return doesn’t have to be complicated. Whether you use free certified tax software or prefer a printed tax package, being prepared can make the process smooth and stress-free. In 2025, you can claim a variety of expenses like tuition, medical costs, child care, and more. These deductions can help you lower Continue reading
Should You Take Extra RRIF Withdrawals to Increase Your Assets
Registered Retirement Income Funds (RRIFs) are a common source of income for Canadian retirees. However, the question of how to manage withdrawals—especially with an eye toward minimizing taxes for your estate—can be complex. Anne’s situation raises an important question: Should you take more than the minimum required withdrawals from your RRIF to reduce taxes on Continue reading