Prepare for tax season

Feb 23, various times Tax season is almost here! If you are 65 years of age or older, you’re invited to join the Canada Revenue Agency (CRA) for a free webinar to learn about the benefits and credits you could be eligible to receive. Topics include: the benefits and credits available to you protecting yourself […]

Seniors who lost GIS now receiving support in March

Today, Minister of Seniors Kamal Khera announced that low income seniors who lost their GIS due to collecting CERB will now receive financial aid as soon as March. Previously, the date for reimbursement of lost income as a one-time payment was set for May. CanAge has been sounding the alarm that vulnerable seniors can’t afford […]

New Bill amends GIS eligibility to avoid lost income caused by CERB

New federal Minister of Seniors Kamal Khera has introduced Bill C-12 in Parliament, which would amend the Old Age Security Act to exclude any income received under CERB, CRB, the Canada Recovery Caregiving Benefit, the Canada Recovery Sickness Benefit, and the Canada Worker Lockdown Benefit for the purposes of calculating the amount of GIS and Allowance payable […]

Trusted Contact Person: What is it and why should you have one?

Canadian Securities Administrators recently published a couple of helpful resources about the importance of appointing a Trusted Contact Person (TCP) to protect your investments. If you have an investment account, it’s recommended that you name a TCP. What is it? A TCP is a person you authorize your financial firm to contact in limited circumstances. […]

Your questions answered: October Edition

We constantly receive important questions from our members and always do our best to respond quickly and directly. Recently, we starting inviting people to submit their questions in our monthly newsletter, and their permission to share the answers on our website for the benefit of others. Here are some recent questions we’ve received from people […]

Open letter urges feds to reinstate lost GIS for low income seniors

CanAge has endorsed an Open Letter written by the Income Security Advocacy Centre (ISAC) urging the federal government to reinstate lost GIS (Guaranteed Income Supplement) for low income seniors as a result of claiming CERB. Organizations were asked to endorse the letter by Thursday, Oct 21st, signaling their support of this urgent call to action. CanAge […]

CanAge consults with federal government on safer banking for seniors

We recently made a submission to the federal Department of Finance on the Banks’ External Complaint Handling System. Our submission details how Canada’s federal financial consumer protection rules can be improved to better serve consumers’ rights and interests when dealing with their banks. Background We know that Canadian seniors are living longer lives and need […]

Planning for Retirement on a Low Income

On Thursday Nov 4th at 6:00 PM, this free session from Toronto Public Library will walk you through special considerations when planning your retirement on a tight budget. Topics covered include: The importance of the GIS and how to minimize the amount of claw backs from other sources of taxable income OAS and GIS eligibility […]

Ontario Securities Commission hosts investment scam prevention Twitter chat

On October 6 at 1 p.m. (ET), the Ontario Securities Commission (OSC) is hosting a live Twitter chat as part of its Investor Education Month and World Investor Week activities. The Twitter chat will work much like a Q&A session, with organizations (like CanAge) sharing tips and information on staying safe from online investment scams […]

Write to your MP demanding relief from lost GIS due to CERB

We’ve been hearing from a lot of people in distress over losing their GIS (Guaranteed Income Supplement) after having claimed CERB (Canadian Emergency Response Benefit) at the onset of the pandemic. In quick response, we wrote to the federal government asking them to protect lower income seniors by basing GIS on their pre-CERB tax years. […]

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