Posts Tagged ‘finance’

Getting ready for Tax Time

Posted on February 10th, 2014 | 2 Comments

It’s tax time again, and many cancer patients have extra medical costs that could be used as a tax credit. On your annual income tax, there is the Medical Expenses Tax Credit. For the 2013 tax year, the credit is $2,152 or three percent of your net income – whichever is less. So if your… [Read More]

Written by Jordan Waldman, CHS Life insurance is an investment like no other. It is an investment to protect the financial future of the people around you so they are able to cover the financial burdens while missing a loved one that once supported them financially. When buying life insurance, people must understand that the… [Read More]

For many of us, the RRSP contribution we make every year is viewed mainly as a way to reduce taxes payable, without a great deal of focus on what will be done with it in the future.  With an aging population, the focus is beginning to shift to turning those years of savings into an… [Read More]

For Financial Literacy Month, RBC Foundation wrote an article highlighting the financial issues facing cancer patients. For many people diagnosed with cancer, financial worries go hand-in-hand with the diagnosis. RBC Foundation is one of the longest standing Wellspring supporters, having made their first donation to Wellspring in 1992.  Recently RBC Foundation exceeded the $1-million mark… [Read More]

family

Employed parents who have a sick child will soon be eligible for a new financial security blanket. Starting next year, Employment Insurance will offer a new program providing EI benefits for parents who have a seriously ill child and have to leave work to provide care. Occasionally I would get calls from parents describing their… [Read More]

grocery

The Special Diet Allowance can offer a vital monetary supplement to individuals receiving Ontario Works or Ontario Disability Support Program with extra expenses related to a special diet due to certain medical conditions. A cancer diagnosis alone does not guarantee an approval for the Special Diet Allowance; instead, the approval of the Social Diet Allowance… [Read More]

cpp_image

If you have ever completed, or helped someone to complete, the CPP Disability application, you know two things – it’s long, and it’s complicated. At the Wellspring ‘Money Matters’ program, we frequently help cancer patients to navigate through the application, pointing out highlights and areas where detailed and specific information is needed. The staff at… [Read More]

money

It was announced at the March 27, 2012 Ontario Provincial Budget that social assistance rates will be frozen for the next year. Social Assistance inOntariocomprises two main programs – Ontario Works (OW), formerly called “welfare” and the Ontario Disability Support Program (ODSP). Ontario Works is a municipal program, so payment rates can vary around the… [Read More]

CPPD

The CanadaPension Plan – Disability Benefits (CPPD) program recently released their annual “Staying in Touch” newsletter. To find the newsletter online, visit http://www.hrsdc.gc.ca/eng/oas-cpp/cpp_disability/newsletter/sit_2012.shtml The CPP rates rose slightly this year – a maximum CPPD pension is $1185.50/month and the average CPPD pension is $843.27/month. As well, the Children’s Pension (for children with a parent who… [Read More]

money and drugs

The Canadian Medical Association Journal recently published a report that found those in Canada without drug coverage struggled financially to pay for their medications. As well, many faced other challenges – skipping doses, delaying filling or re-filling a prescription, or going without their needed pills due to a lack of funds. Others reported having trouble… [Read More]

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