Millions of Canadians facing rising cost-of-living pressures are set to receive a $250 one-time relief boost from the Canada Revenue Agency (CRA) in August 2025. This tax-free payment is designed to assist low- and middle-income households struggling with high inflation, rent, and daily expenses. In this article, we cover who qualifies, when the payment will be made, and how to ensure you receive it. What Is the CRA’s Continue reading
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CRA Confirms $179 GST/HST Credit – Check Your Eligibility And Payment Details Now
As Canadians continue to face rising expenses on basic needs, the Canada Revenue Agency (CRA) is providing targeted relief through the GST/HST credit, delivering up to $179 to qualified individuals. This tax-free quarterly benefit helps low- and moderate-income households offset costs related to goods and services tax (GST) or harmonized sales tax (HST) paid on essentials such as groceries and utilities. This article explains who qualifies, Continue reading
Top Banks Recognized For Community Impact – OCC Applauds CRA Excellence
The Office of the Comptroller of the Currency (OCC) recently released its latest list of banks that were checked for how well they follow the Community Reinvestment Act (CRA). This Act makes sure that banks give loans and financial help to low- and middle-income neighborhoods, not just rich areas. In this report, six banks were Continue reading
3 CRA Red Flags That Could Trigger Trouble When Withdrawing RRSPs In Retirement
Retirement planning often centers on Registered Retirement Savings Plans (RRSPs)—a proven way to defer taxes until you retire. But today’s retirement landscape is changing. Many Canadians continue working part-time into their senior years due to rising costs. This shift has triggered three key CRA red flags that could drastically increase your taxes or spark penalties if RRSP Continue reading