In this article you will find out what Trudeau ordered the CRA to increase the amount of OAS? Is it true? Here is the answer. Trudeau is the 23rd Prime Minister of Canada to assist the Canadian federal government. In 2021, the Liberal government announced the creation of the Old Age Security pension to provide financial assistance to older Canadians. As Prime Minister, Trudeau has every legal right to order the Canada Revenue Agency to increase the amount of OAS. To learn more about Trudeau’s order for the CRA to increase the OAS amount, continue reading this article.
Trudeau ordered the CRA to increase the amount of OAS?
Justine Trudeau is the 23rd Prime Minister of Canada and has led the Liberal Party since 2013, while Prime Minister Trudeau is responsible for creating and increasing Canada Revenue Agency benefits. Trudeau led and helped the CRA increase the amount of OAS. OAS is the federal benefit that provides monthly assistance to low-income older Canadians in the form of a retirement pension that helps them cover their monthly expenses.
With the help of the Canada Revenue Agency, Trudeau and his government directed and administered the rise in inflation. Every year, the Canadian government increases the amount of Old Age Security due to the rising cost of living and inflation. The increase in the OAS amount depends on rising costs and benefits those who qualify. Trudeau did not run the CRA, the CRA is run by its Chief Administrator and the amount of OAS is granted and set by Bob Hamilton.
What is OAS?
OAS is Old Age Security which provides financial assistance to older Canadians. OAS is a pension program that provides taxable monthly benefits to Canadians over the age of 65 and meets federal eligibility criteria. Benefits from this program are provided by the CRA and payments are funded by tax revenues. The OAS payment amount is paid each month as federal assistance to help the senior meet their monthly expenses.
Old Age Security benefits are provided to people who have lived in Canada for more than 10 years after turning 18. If a person lives outside of Canada, they must have their legal citizenship and residency while living in Canada, and with that, they must also live more than 20 years after turning 18. These benefits are paid once the beneficiary meets the eligibility criteria and is age 65 or older.
Is it true? Here is the answer
No, the Trudeau-led RCAF is not true. The Canada Revenue Agency is led and managed by Bob Hamilton. Hamilton is the current commissioner and CEO of the CRA, which makes all other decisions related to OAS and other benefits through the CRA.
Bob manages all day-to-day activities of the agency and advises the Minister on the duties and functions of the Canada Revenue Agency. The current commissioner Bob Hamilton was appointed to this position in 2016 and until then he continued to render his services.
In addition to Old Age Security, Bob also supports other subsidies. it fulfills all the specific functions and missions. OAS is monthly assistance with payments made directly to the eligible recipient’s bank account. In 2024, the OAS payment increases from CAD 68,500 to CAD 66,600, the amount of which will be repaid on January 9, 2024.
Eligible individuals aged 65 to 74 will receive CAD 707.68 per month, and eligible beneficiaries aged 75 or older will receive CAD 778.45 per month for the year 2024. To receive OAS benefits, the beneficiary must have annual income less than $134,626 for ages 65 to 74, and people aged 75 or older must have annual income less than $137,331.
Trudeau does not run the CRA, the CRA is the federal revenue cooperation that manages all of Canada’s tax departments. Through the collection of taxes, the CRA provides federal government benefits to eligible low-income Canadians and their families, who bear the cost of living in the face of rising inflation.
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