Old Age Security One-Time Payment Only

Old Age Security One-Time Payment Only.

You will receive the one-time payment for older seniors if you were:

  • born on or before June 30, 1947, and
  • eligible for the Old Age Security pension in June 2021

If you have applied for the Old Age Security pension but have not yet been approved, you will receive the one-time payment for older seniors if you are approved retroactively to June 2021 or earlier.

The payment amount is $500 taxable. You don’t have to apply; you will automatically receive the one-time payment for older seniors if you are eligible. This payment will be issued automatically the week of August 16, 2021.

  • If you live in Canada or receive your pension payment by direct deposit, you should receive it that week.
  • If you are outside Canada and receive payments by cheque, international postal disruptions may delay the receipt of cheques.

Canada Recovery Hiring Program (CRHP)

As a Canadian employer who continues to be impacted by the COVID-19 pandemic, you may be eligible to apply for one of the two subsidies to cover part of your employee wages.

The CRHP and the Canada Emergency Wage Subsidy (CEWS) support wages you pay through different phases of your economic recovery. Each claim period, eligible employers can claim either CRHP or CEWS, whichever is higher.

However, after September 25, 2021, CEWS will be phased out, so you will be only entitled to the CRHP if you are eligible. 

Next deadline

December 30, 2021: Last day to apply for claim period 17

Next period opens

September 1, 2021: First day you can apply for claim period 19

Which subsidy to apply for

The CRHP and CEWS are both available for claim periods 17 to 20. If you are eligible for both, apply for whichever subsidy gives you the higher amount:

  • you can apply for a different subsidy on each claim period
  • you cannot receive both subsidies in one claim period
  • you are a for-profit corporation or partnership; you meet additional CRHP criteria

Eligible corporations and partnerships

  • Canadian-controlled private corporations (CCPCs)
  • Cooperative corporations that are eligible for the small business deduction
  • Partnerships where at least 50% of the partnership’s interests are held (directly or indirectly) by employers eligible for the CRHP

Ineligible corporations and partnerships

  • Any for-profit corporations that are not CCPCs and not cooperatives eligible for the small business deduction
  • Partnerships where more than 50% of the partnership’s interests are held (directly or indirectly) by employers not eligible for the CRHP

These corporations and partnerships may still be eligible for the CEWS, just not the CRHP.

The subsidy does not renew automatically. You must confirm that you’re eligible for each period and calculate your amount according to that period’s rules before you apply.

There is a deadline to apply or increase your claim for each period.

Current claim period: Period 18: July 4 to July 31, 2021

If you are eligible, this period is open for application.

Next claim period

Period 19: August 1 to August 28, 2021

The period is not yet open for application.

The earliest you can apply is Wednesday, September 1, 2021.

The Canada Recovery Hiring Program (CRHP) is a hiring subsidy program announced in the April 2021 budget. It can help you hire more staff even if you are still experiencing qualifying revenue declines between June 6 and November 20, 2021. A hiring subsidy will support employers with a contribution of up to 50% on total remuneration paid to eligible working employees (I.e., the portion of compensation exceeding the income of the baseline period).

If you need help more information about this benefit, contact RGB Accounting by phone at (416) 932-1915 or email at [email protected]

Source: Canada.ca


Events & Sponsorship

Toronto Entrepreneurs Conference @ Mississauga

May 08, 2019 Our B.E.S.T. (Business Entrepreneurs Services Team) Group has participated in this event for first time. Toronto Entrepreneurs Conference and Trade Show is the largest Entrepreneurs event in Canada. The event which targets business owners, partners or...

Hispanic Fiesta 2018

September 04, 2018 RGB Accounting will participate in this event for a second year in a row. Hispanic Fiesta will be held at Mel Lastman Square in Toronto during the Labour Day Weekend, August 31st, Sept. 1, 2, & 3, 2018. Hispanic Fiesta is a four-day celebration...

Secure Your Future Seminar 2018

June 20, 2018 This event gathered business owners running a small or medium-sized business, self-employed and incorporated businesses willing to learn tax saving strategies to help them utilize their company assets to secure their retirement. We are proud of having...

2nd Latino Business Expo Show

May 19, 2018 The 2nd Latino Business Expo Show held on May 19th at Daniels Spectrum gathered a wide range of entrepreneurs and business owners avid to learn how to take their businesses to the next level. RGB Accounting participated as vendor and speaker at this...

Hispanic Fiesta 2017

September 04, 2017 Hispanic Fiesta, a celebration of Spanish and Latin-American: Arts, Food, Music and Entertainment, is a four-day celebration filled with the splendid sounds, tempting treats and colorful culture featuring 300 local, national and International...

Articles & Publications

Shareholder Owners Salaries vs Dividends

Shareholder Owners Salaries vs Dividends. Which Method is Better for You?   When is it better to pay yourself a salary vs. dividends as the owner/manager of a corporation?  Each method has pros and cons, and as a business owner, you should be aware of your options...

Understanding the Shareholder Loan

Understanding the Shareholder Loan. How to Use it to your Advantage and Stay Compliant with CRA If you are the owner-manager of a corporation, understanding the concept of the shareholder loan is essential to running your business. Below I will explain what a...

GST/HST for digital economy businesses

GST/HST for digital economy businesses Overview New rules for digital economy businesses are in effect as of July 1, 2021. As of July 1, 2021, digital economy businesses, including digital platform operators, may have potential goods and services tax/harmonized sales...