If you’re starting a business in Canada or expanding an existing one, you may need to register for a Goods and Services Tax (GST) or Harmonized Sales Tax (HST) number. This article will guide you through the process of obtaining a GST/HST number, ensuring your business complies with Canadian tax regulations. Why You Need a Continue reading
Finance
$817.3 Million Class Action Settlement for Veterans Affairs Canada Disability Pension Miscalculation
Veterans Affairs Canada (VAC) has agreed to a $817.3 million class-action settlement to resolve claims that annual increases to disability pensions were miscalculated, resulting in underpayments to Canadian veterans and their families. Who Is Eligible? The settlement benefits: Settlement Details The plaintiffs in the lawsuit alleged that VAC errors in adjusting disability pensions under various Continue reading
Understanding the Canadian Goods and Services Tax (GST): How it Works
The Goods and Services Tax (GST) is a federal tax levied on most goods and services in Canada. Introduced in 1991, this value-added tax is designed to ensure that the tax burden is distributed across various stages of production and consumption. Here’s a comprehensive overview of the GST, including its purpose, how it works, and Continue reading
Alberta Child and Family Benefit Payment Dates 2025: Amounts, Eligibility & Income Criteria
The Alberta Child and Family Benefit (ACFB) is a tax-free benefit designed to support families in Alberta with children under 18 years old. It provides financial relief, especially for families with low and moderate incomes. This benefit is fully funded by the Alberta provincial government and is paid out separately from the Canada Child Benefit Continue reading
Alberta Child and Family Benefit Payment Increase 2024-2025: Check Amount & Eligibility
The Alberta Child and Family Benefit (ACFB) has increased, and the next payment will be sent to eligible families on Nov 27, 2024. This benefit is a vital support system designed to assist low- and middle-income families in Alberta through four quarterly payments. Increased ACFB Payment Amounts Understanding the ACFB The ACFB combines the former Continue reading
ACWB Payment Dates 2025: Amounts, Eligibility & Income Requirements
The Advanced Canada Workers Benefit (ACWB) is a quarterly advance payment for individuals and families eligible for the Canada Workers Benefit (CWB). It provides a portion of the CWB tax credit throughout the year to support low- and modest-income workers. ACWB Payment Dates for 2025 Payments for the ACWB in 2025 will be issued on Continue reading
Canada New Minimum Wage in 2025: Upcoming Changes and What They Mean for Workers
Minimum wage increases are a critical part of ensuring fair pay for workers and addressing inflation across Canada. As 2025 approaches, several provinces and territories are set to implement new minimum wage rates to reflect rising costs of living. Here’s a detailed look at the upcoming changes and how they impact workers nationwide. What is Continue reading
QPP Payment Dates 2025: Contributions Rates & Key Updates
The Québec Pension Plan (QPP) is a comprehensive public insurance plan for individuals aged 18 and over with annual employment income exceeding $3,500. It aims to provide financial security for workers in Québec and their families during retirement, in case of disability, or following death. Here’s what you need to know for 2024-2025: Contribution Rates Continue reading
OAS in 2025: Payment Adjustments, Maximum Thresholds, and What to Expect
The Old Age Security (OAS) program in Canada is a cornerstone of financial support for seniors, providing a monthly pension to eligible individuals aged 65 and over. Here’s what you need to know about the current maximum payments, income thresholds, and the outlook for adjustments in 2025. Current OAS Payment Levels (October to December 2024) Continue reading
6 Key Reasons: Why Canadian Retirees Are Struggling to Make Ends Meet
Retirement in Canada is becoming increasingly challenging, with many retirees facing significant obstacles. Here are six major reasons for these struggles: 1. Rising Cost of Living The cost of essentials like groceries, healthcare, and utilities has skyrocketed due to inflation, making it difficult for retirees on fixed incomes to keep up. 2. Inadequate Retirement Savings Continue reading