The Canada Pension Plan (CPP) is one of Canada’s main public retirement programs, providing a monthly pension to eligible workers who have contributed during their working years. Understanding the eligibility rules is essential before deciding when to apply, as your age, contribution history and work record all affect your entitlement. This guide explains who qualifies…
The Canada Revenue Agency, commonly known as the CRA, is the federal agency responsible for administering tax laws, benefits and related programs for the Government of Canada and most provinces and territories. Canadians interact with the CRA when they file an income tax return, receive certain benefit payments, check a tax refund, register a business…
Government payments in Canada include pensions, income-tested benefits, refundable tax credits, employment benefits, disability support and provincial or territorial assistance. Although these payments may all come from a government department, they do not follow one universal system. Each program has its own administrator, eligibility requirements, calculation method, payment schedule, tax treatment and application process. Quick…
Low income in Canada does not have one universal dollar limit that applies to every person, household, benefit and government program. Statistics Canada uses several measures to study low income and poverty, while federal, provincial and territorial programs establish their own income thresholds for determining eligibility. The applicable amount may depend on household size, family…
Government benefits and tax credits can both provide financial support to people in Canada, but they do not always work in the same way. A benefit may be paid monthly, quarterly or as a one-time amount. A tax credit normally reduces income tax or creates an amount payable through the tax return. However, some programs…
Old Age Security and the Guaranteed Income Supplement are closely connected federal benefits for seniors in Canada, but they are not the same payment. OAS is a taxable pension based mainly on age and Canadian residence history. GIS is an additional tax-free payment for low-income seniors who already receive OAS and live in Canada. Quick…
The Canada Pension Plan and Old Age Security are two of the main sources of retirement income available in Canada, but they are calculated under very different rules. CPP is based mainly on your employment earnings and contributions during your working years. OAS is based primarily on your age, Canadian residence history and income. Quick…
The Canada Revenue Agency and Service Canada both deliver important federal services, but they are separate organizations with different responsibilities, online accounts and contact centres. Knowing which organization manages your payment or application can prevent delays and help you reach the correct department the first time. Quick Summary: Contact the Canada Revenue Agency for income…
Service Canada provides access to federal programs and services including Employment Insurance, the Canada Pension Plan, Old Age Security, the Guaranteed Income Supplement, Social Insurance Numbers and several other government benefits. The correct way to contact Service Canada depends on the program involved and whether you need general information, help with an existing application, an…
Changing your Canada Revenue Agency direct deposit information ensures that future tax refunds and CRA-administered benefit payments are deposited into the correct Canadian bank account. Individuals can update their banking information through their CRA account, through a participating Canadian bank or credit union or, when online methods are unavailable, by mailing a federal direct deposit…