The Canada Groceries and Essentials Benefit replaced the GST/HST credit on July 3, raising maximum payments by roughly twenty-five percent through 2031. Both the new benefit and the Old Age Security clawback are now calculated from the same 2025 tax return, so a retiree's net income can trigger two separate reductions instead of one. Pension income splitting, TFSA-first withdrawals, and RRIF timing are the main levers available to keep that income figure under both thresholds.
This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.
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