A mostly overlooked line in last week’s Throne Speech announced a new free system that will automatically file simple tax returns for those who don’t do so themselves, resulting in missed financial support from the government.
With many low-income seniors falling into this group, who are not required to file by law because they don’t owe tax back on their returns, CARP is on record as asking for a system like this to be put in place. The result will be more money paid out to those vulnerable seniors who, due to health, mobility or other personal reasons, miss filing their income taxes each year.
“Any new program or policy that puts money in the pockets of at-risk seniors is a welcomed announcement,” says Bill VanGorder, CARP’s Chief Policy Officer. “Seniors are struggling, especially during the pandemic, to make ends meet. This system will ensure the allocated support dollars get where they need to go.”
As much as this announcement will help Canada’s lowest-income older people, far more needs to be done to keep seniors out of financial insecurity.