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Getting older could be troublesome, however actually, there are lots of monetary advantages that include it! At the moment although, I’m not simply speaking about some early fowl particular or seniors’ low cost at Buyers Drug Mart. At the moment, we’re speaking about free cash from the federal government.

In case you’re a senior who’s presently a home-owner in Ontario as nicely, then you could possibly be eligible for the Ontario Senior Householders’ Property Tax Grant (OSHPTG).

What’s the OSHPTG?

The OSHPTG is a tax grant that goals to assist offset property taxes for senior householders who’ve low to reasonable incomes. This system is funded by the province of Ontario, so it isn’t supplied on a federal stage.

Making use of is simple, as you’ll be able to merely apply whenever you file your prior-year earnings tax and profit return, with this system going all the best way again to 2009. The utmost grant was $250 in 2009 and $500 for yearly after that. The fee is then issued in a one-time fee after your discover of evaluation.

It’s vital to notice that it’s not simply those who personal properties who can apply. In case you personal and even lease a principal residence in Ontario, then you’ll be able to apply for the grant. As for what makes low or center earnings, the Ontario authorities states that low earnings could be for these making beneath $50,000 per yr. A reasonable earnings then could be barely greater, although this could change yr to yr.

In case you’re eligible

Right here’s the factor: that $500 isn’t going to imply a lot for Canadian seniors who want to assist with their money movement. Even whether it is to assist offset property taxes and different prices of residing. As a substitute, seniors could need to contemplate investing in secure, secure investments, particularly those who present dividends.

Now, it’s vital to notice that this could by no means be performed with out first assembly together with your monetary advisor. In case you’re already making low or reasonable earnings, then risking your funds in your later years isn’t a fantastic choice. So, make certain your money owed are paid and that you’ve an emergency fund out there earlier than you go forward and begin investing.

But when your funds are stable, then investing that money can definitely create some earnings that may result in immense returns!

A inventory to think about

One inventory to think about lately is NorthWest Healthcare REIT (TSX:NWH.UN) for a number of causes. The inventory is presently down by about 48%, as of writing within the final yr. It subsequently now has an enormous dividend yield of 12.97%. In fact, that is additionally due to the foremost drop in share worth. However for those who’re seeking to put that $500 to work, that is the best way I might do it.

Healthcare properties around the globe have at all times been important however have been considered much more so through the pandemic. This main funding into healthcare properties wasn’t missed by NorthWest inventory, and it’s been increasing ever since.

The issue, nonetheless, is that the corporate’s future with a U.Ok. investor’s three way partnership not too long ago fell by. This brought about the inventory to tank. Nonetheless, it’s a short-term concern for a long-term inventory that continues to have excessive occupancy charges and long-term lease agreements.

With $223.6 million in free money movement prepared for use, and secure properties around the globe, it’s a fantastic choice for that $500. Plus, here’s what may occur for those who invested $500 now and if it returned to 52-week highs.

As you’ll be able to see, your shares would have greater than doubled! Add on the payout, and you’ll have returns of $637.60 after reaching these highs — all from one tax grant.

The publish Are You a Senior Home-owner? You Might Be Eligible for This Authorities Grant appeared first on The Motley Idiot Canada.

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Extra studying

• Need Passive Revenue? Contemplate These Excessive-Yield REITs
• This 12% Dividend Inventory Pays Money Each Month
• 3 High Canadian Royalty Shares With Dividend Yields of As much as 13.1%
• The place I’d Make investments a $10,000 Windfall Proper Now
• Excessive-Yield Heroes: Canadian Dividend Shares That Ship Huge Returns

Idiot contributor Amy Legate-Wolfe has positions in NorthWest Healthcare Properties Actual Property Funding Belief. The Motley Idiot recommends NorthWest Healthcare Properties Actual Property Funding Belief. The Motley Idiot has a disclosure coverage.

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