Over a third of caregivers must use their personal finances and savings to pay for the needs of the person they care for. They often have to reduce their or their family’s spending to do so. Some will need a loan or have to sell off other assets to afford care. Those caring for children and older adults at the same time are facing the greatest financial hardships.
There are several financial supports available for caregivers from government agencies and community organizations. You may also be eligible for caregiver benefits and leave.
In addition, completing personal income tax on a yearly basis can increase the opportunity for potential credits or benefits from the Government of Canada.
A resource list from OCO in collaboration with Canada Revenue Agency
A resource list from OCO in collaboration with Service Canada
A resource list from OCO in collaboration with CPP & OAS
Resource list – Disability Tax Credit
Capacity-Building Grants for Family Support Networks
- Government of Canada
- 2022 Ontario and Federal Income tax package
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Prosper Canada
Prosper Canada is a national charity dedicated to expanding economic opportunity for Canadians living in poverty through program and policy innovation. To learn more, please visit: https://prospercanada.org/
Benefits Wayfinder – your guide to government benefits that can help put more money in your pocket.
Disability Benefits Compass – (which connects to and from the Benefits Wayfinder tool) provides deeper information about the four key provincial disability benefits.
Future Planning Tool – helps individuals living with a disability and caregivers build a plan for financial security, network building, estate planning, housing choices, and supported decision-making.
Financial Literacy videos – videos to help explain the cost of credit, debt solutions, and tax deductions, credits, and benefits in an accessible way.
Asset building toolkit – this toolkit features resources on goal setting, action planning, financial products, and government supports to help individuals with long-term saving and asset building.
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Credit Canada
Debt Repayment Tips & Strategies
Debt Consolidation for Bad Credit
Credit Canada Blogs:
Credit Canada webinars:
- Ontario Securities Commission
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Other Financial Support Resources
Alzheimer Society may offer a Caregiver Grant in your area.
Labatt Better Together program has grants for elderly support, youth development, health services and assistive devices for those at or below the median income.
March of Dimes offers a variety of funded programs and services for people with physical disabilities.
Ceridian Cares – an employee-driven charity that makes a difference by supporting people and improving the communities in which we live and work. They provide financial assistance to families that require support and improve the communities in which we live and work.
Help for Alzheimer’s Families – The HFC Alzheimer’s and Dementia Care Grants are awarded across the United States and Canada. The goal of the grant program is to provide exceptional home care to families affected by this disease, and to give these families support and rest.
