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Email this1:05 pm
October 29, 2017
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pwm said
Trudeau does, apparently.
I’m referring to your words! “We are poor seniors barely getting by”
It’s your perception I’m talking about.
EDIT: sorry, you were being sarcastic, I initially read that thinking you were serious! Lol
1:14 pm
October 21, 2018
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Vatox said
I’m referring to your words! “We are poor seniors barely getting by”
It’s your perception I’m talking about.
EDIT: sorry, you were being sarcastic, I initially read that thinking you were serious! Lol
Sorry you didn't get my attempt at sarcasm.
1:35 pm
May 24, 2016
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GR, you’re right, a more appropriate and meaningful title for this post would be preferable, as people eligible for OAS belong to both gender groups, as Bill acknowledged.
1:40 pm
December 12, 2009
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GR said
I suggest that a more appropriate and meaningful term be substituted for "bluehairs" in the title of this thread.
Done. I've requested it be renamed to "Trudeau announces COVID-19-related direct financial support for seniors aged 65 and over." Seniors is similarly vague and can apply to anyone aged 55-60 and over, who wouldn't qualify for OAS.
Existing thread name should continue to redirect to the renamed thread. Thanks. 
Cheers,
Doug
3:52 pm
October 21, 2013
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I don't want to belabour the point, but as point of information, curiosity or amusement...
It was fashionable when I was growing up for elderly women with grey or white hair to put a blue "rinse" on it. My great-aunt, born 1897, died 1991, did this for all the years I remember. Today's equivalent would be henna.
But this practice was not restricted to women. I don't recall it being common among men, but we had a chemistry teacher in high school whose hair was blue! He was an older guy, probably about 60. If anyone here attended my high school, they may recognize this story. The kicker was his name. He had a PhD in chemistry, and his surname was Carbon or Carbin (can't remember the spelling now and too lazy to dig out the yearbooks), so he was known as Dr Carbin/on! I kid you not.
4:46 pm
April 26, 2019
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Bill said
Last thing my household needs is $600 tax-free paid for by other people, many of them young and who will be paying for this long after I'm gone. We don't even work, money keeps rolling in. Ridiculous to spend on those who don't need it.
Wow $600. And look at all the other freebies and interest free loans.
Here is my theory:
Some one has to pay for this.
Now almost everyone has been offered/given something.
He left, what he considered, the least important to the last.
So when we are out of the woods...what happens? GST goes to 15% or 20%? And if he had ignored the seniors we would all say....we received nothing, we are on limited income, we cannot go back to work and we are sure as hell don’t see why we should help pay it back! Right? Then we would ask for compensation on our income taxes as either a GST rebate with lower qualifications or an increased age tax credit.
But now we can’t??
5:02 pm
January 9, 2011
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GICinvestor said
Wow $600. And look at all the other freebies and interest free loans.
Here is my theory:
Some one has to pay for this.
Now almost everyone has been offered/given something.
He left, what he considered, the least important to the last.
So when we are out of the woods...what happens? GST goes to 15% or 20%? And if he had ignored the seniors we would all say....we received nothing, we are on limited income, we cannot go back to work and we are sure as hell don’t see why we should help pay it back! Right? Then we would ask for compensation on our income taxes as either a GST rebate with lower qualifications or an increased age tax credit.
But now we can’t??
That's about it. Politics 101.
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
5:38 pm
September 11, 2013
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GICinvestor, don't worry, there is no urgency to pay it off soon, maybe a lot of the old folks will be gone when the extra taxes are required so they get off scot-free! There is precedent in this country for PMs racking up large debts to be cleaned up long after they've left office.
6:14 pm
April 26, 2019
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Scot-Free.....I haven't heard that for years!!!! lol.
I just looked up the meaning.
'Skat' is a Scandinavian word for tax or payment and the word migrated to Britain and mutated into 'scot' as the name of a redistributive taxation, levied as early the 10th century as a form of municipal poor relief. ... Whatever the tax, the phrase 'getting off scot free' simply refers to not paying one's taxes.
I did not realize it referred to taxes only.
6:23 pm
April 15, 2020
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Doug said
Source: The Canadian Press, via TMXmoney (https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=OGTU1020)Details:
* One-time $300 top-up to Old Age Security payments
* One-time $200 top-up to Guaranteed Income Supplement payments
* OAS and GIS tax filers will not see OAS and GIS payments suspended if they forget to file by the June 1, 2020, deadline, for the duration of the COVID-19 emergencyEdit: Note that the first two items are being on a tax-free basis. Not sure if that will be federally- and provincially-tax-free or just federally, but that will be a nice boost, too.
My Take:
The one-time top-up for OAS payments is perhaps too generous on a one-time basis. I would've preferred to see a $100/mo. top-up for for the duration of the COVID-19 emergency or the end of 2020, whichever is less. Similarly, the $200 GIS top-up, provided one-time, is not enough and insufficient. I would've preferred to see a $200-300 top-up for the duration of the COVID-19 emergency or the end of 2020, whichever is greater. The latter item is a good move and should've been done already. I didn't realize OAS/GIS payments could be suspended for non-filing of income taxes; I thought that was just unique to things like CCB and GST/HST. 😉Cheers,
Doug
A friend told me today I was going to get $300. I was busy. I never heard the news. That was a pleasant surprise. Recently I found a feature called Alerts at my bank. They send email on deposits/withdrawals.
6:41 pm
April 15, 2020
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Doug said
Yeah, I agree. It should've been targeted to GIS recipients and been more than just a one-time payment.
You could donate that $600 to a registered Canadian charity which you happy to regularly support due to a combination of their good works and low cost structure.
You would get a 15% federal tax credit on the first $200 and 29% on the next $400. Taken together, that would net you $146 in terms of your reduction of your 2020 federal income tax payable next year.
Effectively, you get the $600 tax-free, get the benefit of being generous and giving it away, and then get a further $146 back in terms of reduced income taxes owed. 😉
Cheers,
Doug
If you do not need the funds donate it to a federal/provincial party. The first $415 donation to a provincial party gets a 75% tax credit. If you are in middle income or higher the donation of $415 to a federal party gets the 75% tax credit as well.
7:00 pm
October 27, 2013
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The OAS tax free benefit is a travesty for anyone who is middle class or above. It should have been limited to GIS recipients only, or at least be taxable to OAS eligible recipients AND not applicable to anyone subject to any OAS clawback. Any senior earning $70k or more certainly has zero need for this benefit. Mine will go as a charitable donation.
8:20 pm
February 20, 2018
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Doug said
Effectively, you get the $600 tax-free, get the benefit of being generous and giving it away, and then get a further $146 back in terms of reduced income taxes owed. 😉
Where do you get 600 tax-free thought it just credit for charitable donation.
I never give to charities unless it benefits me taxes or other. Majority are bogus, bigger ones unionized arms of the left.
I prefer to give direct to someone who needs watch their face light up.
8:48 pm
August 4, 2010
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It looks like there are around 6.5 million OAS recipients, with about 2.1 million of them receiving GIS, which is where the $2.5 billion cost calculation would come from.
One could probably dig into income-by-age-group stats somewhere and get a sense of what limiting the OAS $300 payment to some cutoff might have saved, and a couple hundred million is nothing to sneeze at. But in the grand scheme of things, making the payment procedure more complex may not have been worth the trouble, or the optics, or whatever.
10:10 pm
April 15, 2020
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NorthernRaven said
It looks like there are around 6.5 million OAS recipients, with about 2.1 million of them receiving GIS, which is where the $2.5 billion cost calculation would come from.One could probably dig into income-by-age-group stats somewhere and get a sense of what limiting the OAS $300 payment to some cutoff might have saved, and a couple hundred million is nothing to sneeze at. But in the grand scheme of things, making the payment procedure more complex may not have been worth the trouble, or the optics, or whatever.
Yes you are correct for the month of March. I wondered how they get cost estimates on these programs. Using the March numbers I get 2.4 B. Close enough for me. 100 M is not what it used to be. Thank you for providing this link.
5:50 am
March 30, 2017
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Trudeau continues to be Santa just keep handing out $$ to a wider audience each day.
Next up is inmates getting a raise due to hazardous living environment due to covid19....
I cant even imagine how much higher tax has to go up to pay for all these....
I cant see how seniors are financially affected by Covid19 in a meaningful fashion other than their financial asset taking a hit. But then when does the mandate of the govt becomes supporting those that loses $ from their investments ? And if so why are middle age not getting a one time payment as they dont qualify to rec OAS, GIS.
8:07 am
November 8, 2018
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I am not old enough to qualify for OAS+GIS, but I appreciate Canadian government providing additional financial assistance to seniors.
10:05 am
May 30, 2019
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Maybe I'm missing something but how badly have seniors been hurt by covid? My parents are shut in and spending hardly anything. Their pension cheques keep rolling in every month without fail at 100 per cent and there is no chance of them stopping. They have no one to support but themselves and their home is fully paid for. Contrast that with people in the workforce with young families who have either lost their jobs, had their income cut 25-45 per cent on government benefits or face tremendous uncertainty as to whether they'll lose their jobs. They have significant costs to manage, with a mortgage and children to support and very little disposable income or savings. Blanket cheques to seniors en masse with no targeting whatsoever to me is ridiculous when we're running massive deficits and more may be required in the fall if we get a second wave of infections. Trudeau is firehosing money out to everyone in a disgusting ploy to buy votes in an election he will call in the next six months. This is why liberals get a bad name for managing a country's finances
10:25 am
February 4, 2017
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I would rather have seen some tax free access to rsps or rifs as was the rumour in early days.
10:35 am
April 26, 2019
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BC males offer too.
And of course....No details of eligibility.
https://www2.gov.bc.ca/gov/content/family-social-supports/seniors/financial-legal-matters/income-security-programs/seniors-supplement
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