Southern Ontario Smart Computing Innovation Platform (SOSCIP)

Recently, there have been claims regarding $2,800 + $1,500 monthly payments for seniors in Canada, which would combine Old Age Security (OAS) and Guaranteed Income Supplement (GIS) benefits. However, the Canada Revenue Agency (CRA) has not confirmed any such payment structure. Despite rumors, the payment amounts for OAS and GIS remain consistent, and the CRA Continue reading

As 2024 approaches, Canadians receiving the Old Age Security (OAS) pension can look forward to an increase in their payments. The federal government adjusts OAS payments quarterly to keep pace with inflation, ensuring that seniors maintain their purchasing power as the cost of living rises. In this article, we’ll provide detailed information on the OAS Continue reading

The Canada Pension Plan (CPP) survivor benefit is vital financial support for families who have lost a loved one, ensuring that surviving spouses and children receive monthly payments. For 2024, there are adjustments to the CPP survivor benefit to account for inflation, helping recipients manage their financial needs in a changing economic landscape. Here’s a Continue reading

Canadians can access employment insurance benefits from the Canada Revenue Agency (CRA) during unemployment or while searching for new jobs. If you are struggling to find employment, the CRA offers weekly employment insurance (EI) payments to eligible candidates. Currently, beneficiaries are receiving $650 weekly, and this article provides detailed information about the $650 CRA Weekly Continue reading

In a significant move to support the Canadian economy, the Bank of Canada has announced a 3.75% cut to its key interest rate in 2024. This unexpected rate cut is aimed at stimulating growth and addressing economic challenges, but it has wide-reaching effects on everything from mortgages to consumer loans. In this article, we’ll break Continue reading

On October 22, 2024, the Immigration, Refugees, and Citizenship Canada (IRCC) issued 400 Invitations to Apply (ITAs) to Canadian Experience Class (CEC) candidates in the latest Express Entry draw. This draw is a major opportunity for skilled workers already in Canada to secure permanent residency (PR) through a faster, streamlined process. Key Details of the Continue reading

Learn about the CPP and OAS Cost of Living Adjustment for 2024, including its impact and calculation. Discover how these adjustments affect your benefits and what you can expect in the coming year. Stay informed on the latest updates to plan your finances effectively. Understanding the COLA The Cost of Living Adjustment (COLA) is an Continue reading

This year brings exciting news for Canada Pension Plan (CPP) claimants. In 2024, eligible CPP contributors will benefit from a $1600 tax credit. Yes, you read that correctly! This tax credit is designed to alleviate some of the tax burdens on Canadian citizens who have contributed to the CPP. Let’s dive into all the details Continue reading

The Canada Pension Plan (CPP) is a crucial component of Canada’s retirement income system, designed to provide financial assistance to retirees, individuals with disabilities, and surviving family members. However, an increasing number of Canadians are choosing to work beyond the traditional retirement age or return to work after beginning their CPP payments. If you find Continue reading

Learn about the CPP and EI maximum 2024 contributions, including the latest rates and limits. Discover how these changes impact your payroll deductions and overall benefits. Stay updated to ensure accurate financial planning and compliance with Canadian regulations. Canada Pension Plan (CPP) Maximum Contributions Important: Starting in 2024, there’s a second tier of CPP contributions Continue reading