Government Schemes and Benefits in Canada
Savings incentives, family payments, pensions and home buying help in Canada, each with a link to the official page.
Savings and Retirement
TFSA
Investment growth and withdrawals are tax free. The 2026 annual limit is $7,000, and unused room carries forward.
Official siteRRSP
Contributions reduce taxable income; tax is paid on withdrawal. Your limit is 18% of last year's earned income up to the yearly maximum, shown on your notice of assessment.
Official siteFirst Home Savings Account
Contribute up to $8,000 a year and $40,000 in total, deduct it like an RRSP, and withdraw tax free for a first home.
Official siteCanada Pension Plan
A monthly pension based on your contributions, normally from 65, available from 60 with a reduction or up to 70 with an increase.
Official siteOld Age Security and GIS
OAS is paid from 65 to most residents; the Guaranteed Income Supplement adds more for those with low income.
Official siteRDSP
A savings plan for people eligible for the Disability Tax Credit, with government grants and bonds added.
Official siteFamily and Income Support
Canada Child Benefit
A tax free monthly payment for children under 18, larger for lower family incomes. File your taxes every year to keep it.
Official siteCanada Groceries and Essentials Benefit
A tax free payment four times a year for individuals and families with low and modest income. It replaced the GST/HST credit in July 2026 with the same rules, and you are considered automatically when you file your taxes.
Official siteCanada Workers Benefit
A refundable tax credit for low income workers, with an extra amount for people eligible for the Disability Tax Credit.
Official siteCanada Disability Benefit
A monthly payment for working age people with disabilities and low income who have the Disability Tax Credit.
Official siteBenefits Finder
Answer a few questions to see federal, provincial and territorial benefits you may qualify for.
Official siteBuying a Home
Home Buyers' Plan
Withdraw up to $60,000 from your RRSPs to buy or build a first home, and repay it over 15 years. For a first withdrawal in 2026 to 2028, repayments start in the fifth year after the withdrawal.
Official siteFirst Time Home Buyers' Tax Credit
A $10,000 amount that gives up to $1,500 of federal tax relief in the year you buy a qualifying first home.
Official siteGST Relief for First Time Buyers
First time buyers of a newly built home pay no GST on homes up to $1 million and less GST up to $1.5 million, a saving of up to $50,000, for agreements signed from 20 March 2025 and before 2031.
Official siteChecked October 2026. Rules and amounts change, so confirm on the official page before you rely on a figure. Who to check with in Canada.