The increased Seniors’ Benefit and the Newfoundland and Labrador Income Supplement replace the Home Heating Rebate and Provincial Harmonized Sales Tax Credit.
The calculator below will give you an approximate benefit amount for the Newfoundland and Labrador Income Support and/or Seniors’ Benefit.
Disclaimer: This calculator is available for your convenience. The reliability of the results depends on the accuracy of the information that you provide. Actual benefit entitlements will be calculated by the Canada Revenue Agency and determined by the information filed on your personal income tax return. To use the calculator, you will need to provide your net income located on line 236 of your 2015 income tax return.
The combined investment in these new programs totals $76.4 million. These will help soften the impact of the tax changes announced in Budget 2016 on low income seniors, individuals, families and persons with disabilities.
The Newfoundland and Labrador Income Supplement will be effective July 1, 2016 and eligible recipients will receive the first in a series of quarterly payments in October 2016.
No application is required. Eligible individuals must file a 2015 income tax return. The total benefit is based on an individual’s net income, which is the amount used to determine income tax – it can be located on line 236 of the 2015 income tax return.
The Seniors’ Benefit is a refundable tax credit for low income seniors. Through Budget 2016, the annual amount paid to eligible seniors has increased by $250 – from $1,063 to $1,313. This benefit will be paid quarterly.
A refundable tax credit is an amount paid to an individual, even if they have no tax payable.
In order to qualify for this benefit, you must be 65 years of age by December 31. The amount of the credit is based on net income – it can be located on line 236 of the 2015 income tax return.