The Canada Revenue Agency (CRA) has always played a pivotal role in the financial upliftment of Canadians. Over the years, various programs and schemes introduced by the CRA have made significant impacts, particularly for senior citizens. Given the rising inflation and financial challenges, there are discussions about a possible extra Old Age Security (OAS) payment … Read more
As tax season approaches, understanding your T4 slip becomes crucial for Canadian employees. This comprehensive guide will walk you through everything you need to know about T4 slips, from their purpose to when you can expect them in 2024. Whether you’re a seasoned taxpayer or new to the workforce, this article will provide valuable insights … Read more
The Canada Revenue Agency (CRA) has recently announced the $3,173 Canada Child Disability Credit (CDC) for 2024. This initiative by the Canadian government aims to provide tax relief to low-income families caring for disabled children. The annual amount of $3,173 will be distributed in monthly payments of $264.41, ensuring consistent support throughout the year. The … Read more
The Canadian government, in collaboration with the Canada Revenue Agency (CRA), has introduced the Canada Housing Benefit. This initiative is aimed at assisting financially struggling individuals and families with their rent payments. To qualify for this benefit, applicants must meet specific eligibility criteria set by the CRA. Successful applicants will receive a tax-free payment of … Read more