Finance

For many Canadian seniors, the Old Age Security (OAS) pension provides vital financial support during retirement. However, some retirees may face the possibility of an OAS pension clawback due to higher income levels, potentially reducing their benefits by up to $1,350. Understanding the clawback process, how it’s calculated, and ways to reduce the impact on Continue reading

The Canada Pension Plan-Retirement (CPP-R) is an essential component of retirement planning for Canadians, providing a steady source of income once you retire. This article explains the ins and outs of CPP-R, including how it works, eligibility criteria, and how you can maximize your monthly pension by choosing the right time to start receiving benefits. Continue reading

Understand the eligibility criteria for Canadian retirement benefits, including CPP, OAS, and GIS. Learn who qualifies for these programs and how to apply. Get detailed information to ensure you receive the retirement benefits you’re entitled to. Canada Pension Plan (CPP) Old Age Security (OAS) Guaranteed Income Supplement (GIS) Important Notes CPP & OAS Payment Increase Continue reading

In a decisive move to bolster economic activity and enhance job growth, the Bank of Canada (BoC) reduced its key policy rate by 50 basis points on October 23, 2024, bringing it down to 3.75%. This substantial cut reflects the central bank’s response to declining inflation and a slowing economy. Economic Context and Rationale Recent Continue reading

Toronto-Dominion (TD) Bank is under fire for allegedly failing to uphold its anti-money laundering (AML) responsibilities, leading to a record-breaking $3 billion in fines from multiple U.S. agencies. The bank has been accused of systemic AML program deficiencies, including inadequate staffing, poorly trained compliance teams, and failure to monitor high-risk transactions. This financial blow, the Continue reading

As the cost of living continues to impact households across Canada, several key benefits are scheduled to be distributed in November 2024. These payments provide financial assistance to eligible Canadians, including families, seniors, and low-income individuals. Below, we’ll explore the amounts, eligibility criteria, and distribution dates for the upcoming payments, ensuring recipients can prepare for Continue reading

In 2024, Centrelink introduced a special $3,100 payment designed to provide financial relief for low-income Australians. As living costs continue to rise, this one-time payment aims to support those who are most vulnerable, offering a financial buffer to help them meet everyday expenses. Here’s a comprehensive guide on who qualifies, when to expect payments, and Continue reading

As September unfolds, the Australian government has begun unveiling updates to its financial assistance programs. Among the latest announcements is a significant pension increase aimed at supporting seniors. Prime Minister Anthony Albanese has revealed a new initiative: a $1900 pension increase for eligible seniors in Australia for 2024. This boost is set to benefit many Continue reading

The Centrelink $1500 Payment for 2024 is a one-time financial support provided by the Australian government to assist eligible individuals and families with the rising cost of living and other financial pressures. This payment is part of a broader range of social welfare programs aimed at ensuring that vulnerable Australians receive the support they need. Continue reading

In 2024, the Family Tax Benefit (FTB) will see an increase, offering greater financial support for Australian families. This adjustment is designed to help parents manage the rising cost of living, particularly in areas such as child-rearing, education, and household expenses. In this detailed guide, we’ll explore the Family Tax Benefit, how much it’s increasing, Continue reading