Canadian seniors aged 65 years or older are set to see an increase in Old Age Security (OAS) benefits. Payments for October rolled out on schedule, with a boost aimed at addressing cost-of-living increases. The Liberal government, however, is facing mounting pressure to extend additional benefits to those under 75. Quarterly Adjustments Based on CPI Continue reading
Kathy Hilton
“Auditor General Flags Uncertainty Over Adequacy of Old Age Security Payments for Seniors”
A recent report by Canada’s Auditor General highlights significant gaps in the federal government’s approach to supporting seniors through programs like Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). The findings reveal that Employment and Social Development Canada (ESDC), the department responsible for these benefits, lacks a clear understanding of whether its programs Continue reading
Canada Child Benefit: Direct Deposits Arrive Tomorrow, Mailed Cheques Delayed Due to Canada Post Strike – Payment Details and How to Sign Up
If you are eligible for the Canada Child Benefit (CCB), December is a crucial month to keep track of your payments. The Canada Revenue Agency (CRA) has scheduled direct deposits for December 13, 2024, while cheques will arrive by mail on December 20, 2024, despite ongoing labour disruptions at Canada Post. This early issuance has Continue reading
B.C. Mutual Fund Dealer Fined $50K for Misappropriating $3.8M of Seniors’ Funds
Canada’s investment industry regulator, the Canadian Investment Regulatory Organization (CIRO), has imposed severe sanctions on B.C. mutual fund dealer Lorne Stuart Allison after he diverted millions of dollars from retirees’ accounts to make unauthorized investments. In addition to a lifetime ban from conducting securities-related business, Allison has been fined $50,000 and ordered to disgorge $19,846 Continue reading
Meta Complies with CRTC’s Order to Disclose Information on Online News Act Compliance
After initially resisting, Meta has now agreed to comply with a directive from the Canadian Radio-television and Telecommunications Commission (CRTC) to publicly disclose details of its news-blocking measures. This comes as part of the company’s response to the Online News Act, which mandates platforms like Facebook and Instagram to compensate media outlets for displaying their Continue reading
Bank of Canada Announces Another Rate Cut and Updates Mortgage Rules
In the final interest rate announcement of 2024, the Bank of Canada reduced its benchmark rate by 50 basis points (bps), bringing it down to 3.25%. This rate cut, which follows a similar reduction in October, is being made amidst a slight uptick in inflation. The Bank’s decision marks its fifth consecutive rate cut, signaling Continue reading
City Tax Hike Remains at 2.65% After Monday Review
Overview of the Proposed Tax Levy Increase Owen Sound’s city council has reviewed its draft operating budget, which includes a proposed 2.65% increase in the tax levy. While the draft budget remains close to the initial proposal, several changes were made during the council meeting held on Monday. These adjustments, including additional funding and contract 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
Ontario Minimum Wage Increase 2024: New Amount & Future Trends
The Canadian government has taken significant steps to enhance the living standards of its workforce through the establishment of minimum hourly pay. Beneficiaries living in Ontario can anticipate the upcoming Ontario Minimum Wage Increase 2024, which aims to ensure fair compensation for all workers. Ontario Minimum Wage Increase 2024: What to Expect As part of Continue reading
Canada Hourly Wage Increase 2024: What You Need to Know
To enhance the standard of living for workers, the Canadian government has set new hourly wage rates for residents. As part of the 2024 adjustments, beneficiaries are expected to see a pay increase aligned with the new hourly wage standards. This change aims to support workers by improving their hourly earnings. Canada Hourly Wage Increase Continue reading