Canadian Seniors will receive a one time covid-19 relief payment this week as announced by the government earlier in the week. The goal is to help seniors curb rising costs for things such as grocery deliveries and prescriptions. During this pandemic, seniors have been one of the hardest groups affected. This payment is one way that the government wanted to lightened their load. This one-time payment is tax free.
Canadian Seniors Receive Covid-19 Payment Relief, How Much?
Canadian seniors can receive up to $500.00 in a one-time payment from the government. Here’s the breakdown from a recent article below:
“Any senior who is eligible for the Old Age Security (OAS) pension will receive a $300 payment, and an additional $200 is being sent to seniors eligible for the Guaranteed Income Supplement (GIS).
The federal government estimates there are currently 6.7 million seniors who are eligible for the OAS pension and 2.2 million who are eligible for the GIS. These payments are set to total $2.5 billion.”
Canadian Seniors Receive Covid-19 Paymet Relief, When and How?
The payment is directly made to any senior who is eligible. No application is needed to apply. Here are the payment details from the same article:
“Seniors who reside in Canada can expect to receive the payment by direct deposit or cheque this week, whereas seniors who reside outside Canada can expect this one-time payment in July for those on direct deposit, or by cheque with delays given international postal disruptions,” said the government in a statement.
For Canadian seniors, any help is good as they have been hit hard by COVID-19. As a result, they have to take extra precautions to stay safe. This has resulted in taking on a greater financial burden with limited income for many. Because of that, Canadian seniors will gladly accept the covid-19 one-time payment as every little bit helps.
On May 12, 2020, the Canadian Government announced additional support for seniors during covid-19 to help them offset the increased cost of living resulting from the pandemic. Also announced was measures to help seniors deal with isolation and improve their quality of life. Finally, there was an extension of payments and allowances for seniors. Let’s take a look at each one of these new supports one by one.
Additional Support for Seniors During Covid-19, One Time Tax free Payment
The prime minister announced a one time tax-free payment of $300 for seniors eligible for the Old Age Security (OAS) pension, with an additional $200 for seniors eligible for the Guaranteed Income Supplement (GIS). This would give a total of $500 to individuals who are eligible to receive both the OAS and the GIS. The goal is to help seniors cover increased costs caused by the pandemic.
Additional Support for Seniors During Covid-19, Additional Funding to New Horizons for Seniors Program
The Government also announced that it is investing an additional $20 million dollars into the New Horizons for Seniors Program. The is to help support organizations that offer community based projects that help reduce isolation, improve the quality of life for seniors, and help them maintain a social support network.
Additional Support for Seniors During Covid-19, Extension of Allowance Payments
The government is temporarily extending seniors’ GIS and Allowance payments even if their 2019 income information has not been assessed. This will ensure that the most vulnerable seniors continue to receive their benefits. Also, seniors are encouraged to submit their 2019 income information as soon as possible and no later than by October 1, 2020. By doing so, they will avoid an interruption of benefits.
The government is trying to help the most vulnerable people affected by this pandemic and many seniors definitely fall into this category. The latest measures announced are a way to address this and hopefully many seniors can apply and will be helped by this. Even if the amounts are small, it is all a help. As the old saying goes, every little bit helps.