Seniors to receive up to $500 in a one-time payment to offset added costs due to COVID-19 - News Summed Up

Seniors to receive up to $500 in a one-time payment to offset added costs due to COVID-19


2:19Seniors who already are receiving OAS and GIS will receive the one-time benefit automatically; they will not be required to apply for it. Prime Minister Justin Trudeau Trudeau says more work needs to be done on long-term solutions to address the tragedies unfolding in long-term care facilities amid the COVID-19 pandemic. 9:54As for today's announcement, McDougall said "every little bit counts" when someone is on a fixed income, but she hopes the government comes through with other measures to help seniors. Allowing GIS recipients until October 1 to file their taxes will certainly help seniors who are struggling right now." CARP says the mandatory withdrawals increase the tax liability for the year as seniors struggle with added costs related to the pandemic.


Source: CBC News May 12, 2020 13:59 UTC



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