The Canada Revenue Agency has announced a new $1,350 one-time payment designed to provide financial support to eligible recipients across the country. As living costs continue to rise, this direct financial relief aims to assist individuals and families who may be facing increased expenses related to housing, food, healthcare, and daily essentials. The CRA has … Read more
The Canada Revenue Agency has officially confirmed the Tax-Free Savings Account contribution cap for 2026, providing clarity for Canadians planning their savings and investment strategies. Each year, the TFSA contribution limit is carefully reviewed and adjusted based on inflation and federal guidelines. The newly announced TFSA contribution cap for 2026 gives individuals a clear framework … Read more
Starting later in February 2026, Old Age Security (OAS) payments for seniors are expected to rise, bringing an end to the period of relatively lower benefit amounts. This anticipated increase in OAS payments reflects ongoing adjustments to inflation, cost-of-living pressures, and the government’s commitment to supporting retirees across Canada. For many seniors who rely heavily … Read more
The RRSP contribution deadline for March 2026 is approaching quickly, giving Canadians a limited window to reduce their taxable income and increase retirement savings before the cutoff arrives. Registered Retirement Savings Plans remain one of the most effective tax planning tools available, offering both immediate tax deductions and long-term investment growth. For individuals and families … Read more