As a senior you have probably paid into various plans, so take the time to review all of your documents. These may include CPP Canada Pension Plan, RRSPs Registered Retirement Savings Plans. Company pension Plans RRIFs Registered Retirement Income Fund and Life Insurance Plans Do this annually or when a you make a change with your investment advisor.
Become acquainted with the CRA – Canada Revenue Agency to see if you may be eligible for any tax credits. The links below will take you directly to Government of Ontario website for more information.
Healthy Homes Renovation Tax Credit If you are 65+ years old, you could get up to $1,500 to help with the cost of making your home safer and more accessible.
Home and Vehicle Modification Program You could get money to help with the cost of making your home and vehicle more accessible if you or your child has a disability that restricts mobility.
ODB: Ontario Drug Benefit Program Find out if the cost of your prescription drugs are covered by the province.
GAINS: Ontario Guaranteed Annual Income System If you are 65+ years old and receive a pension, you could get up to $83 per month to ensure your income stays above a certain amount.
Ontario Senior Homeowners’ Property Tax Grant If you are 64+ years old and own a home, you could get up to $500 to help with the cost of property taxes.
Reduced Co-payment for Lower Income Seniors Depending on your annual income, you may be able to have the ODB $100 annual deductible waived and have your co-payment reduced to $2 per prescription.
Strong Communities Rent Supplement Program Low to moderate income households, including those requiring support services, can apply for a rent-geared-to-income subsidy to help make housing affordable.
Trillium Drug Program If you have high prescription drug costs and a low household income, you may be able to pay $2 or less for every prescription.