Providing care to a loved one can be challenging, but Centrelink’s Carer Payment offers vital financial support. If you’re eligible, you could receive up to $1,144.40 per fortnight, depending on your circumstances. Here’s a complete guide to help you understand eligibility, payment rates, and rules. Who Can Get the Carer Payment? To qualify for Carer Continue reading
Finance
Canadian Mortgage Rates Rise Amid Surge in Government Bond Yields
While the Bank of Canada (BoC) recently cut interest rates, the bond market tells a different story. Government of Canada (GoC) bond yields have reversed their course, surging upward and signaling higher costs for fixed-rate mortgages. For Canadian homebuyers, this is an important shift as fixed-rate mortgages—historically the most affordable option—could soon become more expensive. Continue reading
Calgary Liquor Stores and Shoppers Prepare for Holiday GST Relief
The Canadian federal government’s GST/HST holiday commenced on December 14, 2024, introducing a two-month exemption from the Goods and Services Tax (GST) and Harmonized Sales Tax (HST) on a selection of items frequently purchased during the holiday season. This initiative aims to provide financial relief to consumers during a peak spending period. Scope of the Continue reading
New Canada Disability Benefit 2025: Updates, Amount & Income Thresholds
The Canada Disability Benefits Act, enacted on June 22, 2023, introduces a groundbreaking federal disability benefit. Beginning in July 2025, this program aims to provide financial assistance to working-age Canadians with disabilities. If you meet the eligibility criteria, you could receive up to $2,400 annually, without affecting provincial disability benefits like BC’s PWD. Here’s an Continue reading
Top 5 Best GIC Rates Canada: Lock in for High Returns grow your Wealth
Guaranteed Investment Certificates (GICs) are one of the safest investment options available in Canada, offering guaranteed returns over a fixed period. As interest rates fluctuate, it’s crucial to shop around for the best GIC rates to maximize your returns. Whether you’re a conservative investor seeking stability or someone looking to diversify your portfolio, locking in Continue reading
CPP Payments to Rise by 2.7% in 2025: What Retirees Need to Know
Canadian retirees relying on the Canada Pension Plan (CPP) have a reason to celebrate—a 2.7% increase in their CPP payments is set to begin in January 2025. This annual inflation adjustment ensures that the purchasing power of retirees remains stable, a crucial feature in safeguarding retirement income against the rising cost of living. While the Continue reading
Top 5 Government Benefits Canadians Can Expect in December 2024
As the holiday season approaches, Canadians can look forward to a series of government benefits and credits from the Canada Revenue Agency (CRA). These payments aim to provide much-needed financial support, whether you’re a parent, a senior, or a veteran. Here’s a comprehensive breakdown of the key benefits, eligibility criteria, and payment details for December Continue reading
Guaranteed Income Supplement: 7 Facts Every Canadian Senior Must Know
The Guaranteed Income Supplement (GIS) is a vital non-taxable financial aid provided by the Government of Canada. It is designed to support low-income seniors who rely on the Old Age Security (OAS) pension. Here are seven key details about this essential program: 1. Eligibility Requirements 2. Benefit Amounts 3. Income Considerations 4. Allowance for Spouses Continue reading
Bagels Recalled Across Ontario and Canada Due to Metal Contamination
Bagel Brands Recalled Across Canada The Canadian Food Inspection Agency (CFIA) has issued a recall notice for various bagel brands due to potential contamination with pieces of metal. The brands affected include Co-op, TGP, Super A, and Bigway. This recall, announced on December 4, 2024, impacts bagels distributed across multiple provinces and territories, including Ontario, Continue reading
New Mortgage Rules Take Effect; Additional Changes Expected Soon, Economist Predicts
On December 15, two major mortgage reforms came into effect in Canada, aiming to tackle housing affordability and ease financial pressures for homebuyers. These changes, which expand 30-year amortizations and raise the insured mortgage cap, mark a significant federal effort to support first-time buyers and address the housing crisis. More updates could follow soon, as Continue reading