CRA Releases New OAS Dual $1300+$250 Extra Payment For Seniors – How it will benefit seniors?

CRA Releases New OAS Dual $1300+$250 Extra Payment For Seniors: Canada Revenue Agency, also known as CRA, Releases New OAS Dual $1300+$250 Extra Payment For Seniors. The officials are offering the payment under the OAS program i.e., Old Age Security. Citizens of Canada who are registered under the CRA OAS program should check whether they are eligible for the New OAS Dual $1300+$250 Extra Payment or not.

The government of Canada offers Old Age Security to senior citizens who are more than 65 years old. The amount will help the beneficiaries with low incomes. The government deposits the amount directly into people’s bank accounts. Scroll down the page to get updates regarding the New Old Age Security.

CRA Releases New OAS Dual $1300+$250 Extra Payment

This is no secret that inflation is rising rapidly in Canada. As a result, the country’s residents find it challenging to meet the living costs and afford basic needs. The situation becomes worse for people who are not working due to their age. Therefore, the Canada Revenue Agency, along with the federal government, decided to increase the amount of Old Age Security. The CRA Releases New OAS Dual $1300+$250 Extra Payment to help those people in need.

The amount might not be large. However, it will support beneficiaries financially by enabling them to fulfil their basic needs. Please note that the confirmation regarding it has yet to be made. To get the benefits of the program, applicants will have to fulfill the required qualifications. The required qualifications are mentioned below in the article. To get New OAS Dual official updates, applicants are advised to visit the official website of the Government of Canada.

Eligibility Criteria for Old Age Security

The officials have set the eligibility criteria for the Old Age Security which must be fulfilled to get the benefits. Below is the detailed eligibility criteria to get the benefits:

• For People Living in Canada:
  • Candidates should be at least 65 years old or older
  • Applicants should be citizens of Canada or legal residents at the time the OAS pension application is approved.
  • Candidates must have resided in Canada for a minimum of 10 years since the age of 18.
• For People Living Outside Canada:
  • Applicants should be at least 65 years old or above.
  • Candidates should be Canadian citizens or legal residents of Canada on the day before they left Canada.
  • Candidates should reside in Canada for at least 20 years since the age of 18.
• Canadians working outside Canada for Canadian employers:
  • Applicants must have returned to Canada within 6 months of completion of the employment.
  • Applicants who turned 65 years old while still employed and maintained a residence in Canada during their time outside of Canada.

CRA Benefits Payment Dates

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How to apply for the CRA Releases New OAS Dual $1300+$250 Extra Payment?

Readers who are applying for the first time should go through the detailed process mentioned below to understand it. The following is the step-by-step guide following which the application process will be completed:

• Firstly, visit the official website of the Government of Canada using this link: https://www.canada.ca/
• The home page will open on the screen. Scroll it down till the end.
• Now, you must tap the Benefits option and a new page will again appear on the screen.
  
• A list of available benefits will open there. Find and click the option of Public Pensions.
• Now, move to the Most Requested section attached on the right side of the screen.
• After that, click the Access My Service Canada Account option, and the login page will open.
  
• Choose the login method and enter the details accordingly.
• After that, the dashboard will open on the screen where you will have to click the application link for the Old Age Security.
• Start entering the details on the application form and upload the required documents.
• Finally, click the submit button after rechecking the details and the application process will be completed.

New OAS Dual Payment Dates

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Frequently Asked Questions

What documents will be needed to apply for the New OAS Dual $1300+$250 Extra Payment For Seniors?
Candidates who are applying as Canadians working outside Canada for Canadian employers for the New OAS Dual $1300+$250 Extra Payment For Seniors will have to provide these documents:
proof of employment from the employer and proof of physically returning to Canada (unless the applicant has turned 65 while still employed outside Canada).

What is the reason behind increasing the Old Age Security Amount?
The federal government along with the Canada Revenue Agency wanted to tackle the situation of inflation and economic issues. Therefore, they decided to increase the OAS amount.