Navigating government programs can be complex. Prosperity Horizon simplifies your search for eligible financial support and benefits across Canada.
Get Your Free GuideThe Old Age Security (OAS) pension is a monthly payment available to most Canadians aged 65 and older who meet the Canadian legal status and residency requirements. It is not based on employment history.
Learn more on Canada.caThe Guaranteed Income Supplement (GIS) provides additional financial support to low-income Old Age Security (OAS) pension recipients living in Canada. Eligibility is based on your income and marital status.
Learn more on Canada.caThe Canada Child Benefit (CCB) is a tax-free monthly payment made to eligible families to help them with the cost of raising children under 18 years of age. It may include a provincial or territorial program.
Learn more on CRAThe GST/HST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.
Learn more on CRADisclaimer: Eligibility criteria can be complex and may change. Always refer to official government sources for the most accurate and up-to-date information. This site provides general guidance only.
In addition to federal benefits, each province and territory offers its own unique programs to support residents. Here are a few examples:
The OTB combines three provincial tax credits into one payment: the Ontario energy and property tax credit, the Northern Ontario energy credit, and the Ontario sales tax credit.
Learn more on Ontario.caAlberta offers various programs to support families, including the Alberta Child Benefit and the Alberta Family Employment Tax Credit, aiming to assist low-income families.
Learn more on Alberta.caThe Quebec Solidarity Tax Credit is a refundable tax credit paid to eligible low-income individuals and families to help them with the cost of living.
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Yes, students may be eligible for various benefits depending on their specific circumstances. This can include federal and provincial student loans and grants, tax credits for tuition and education amounts, and in some cases, specific provincial programs for low-income individuals or families if they meet the criteria. It's important to check eligibility requirements for each program.
Eligibility for Canadian government benefits often depends on your residency status. While many significant benefits like OAS and CCB are primarily for Canadian citizens and permanent residents, some programs may be accessible to temporary residents with specific work permits or refugee status. Always refer to the official eligibility criteria for each specific benefit.
It depends on the benefit. Some benefits, like the Canada Child Benefit (CCB) and the GST/HST credit, are tax-free. However, other benefits, such as the Old Age Security (OAS) pension and Canada Pension Plan (CPP) payments, are generally considered taxable income and must be reported on your income tax return. It's crucial to understand the tax implications of any benefit you receive.
Payment frequency varies by benefit. Many federal benefits, such as the Canada Child Benefit (CCB) and the Old Age Security (OAS) pension, are paid monthly. The GST/HST credit is paid quarterly. Provincial programs may have different schedules, some monthly, some quarterly, and others annually. Check the specific program details on official government websites for precise payment schedules.
If your income or family situation changes significantly, it's important to inform the relevant government agency (e.g., CRA or Service Canada) as soon as possible. This is because many benefits are income-tested, and a change in income could affect your eligibility or the amount of benefit you receive. Failing to report changes could lead to overpayments that you would need to repay.
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