available to low income individuals and families

amount received depends on individual or family net income

cannot exceed NL tax payable (not refundable)

Income thresholds to be increased

	from $13,511 to $15,911 for individuals
	from $21,825 to $26,625 for families

An individual with an income of $16,000 will save $544 annually

A family with income of $26,000 will save almost $800 annually

refundable tax credit, payable even when the senior has no tax payable

combined with the October GST/HST credit payment

to qualify, the person must be 65 years of age by December 31st of the taxation year

annual benefit of $776 per year, reduced by 11.66% of net income over $25,275

phased out at net incomes of $31,930 or more

where both spouses qualify, the benefit is paid only once

threshold and annual benefit amounts are indexed for inflation each year

Low Income Seniors' Benefit

Seniors' Benefit Regulations, 2007

Newfoundland & Labrador Senior's Benefit (NLSB)

for low income individuals or families

combined with the October GST/HST credit payment

annual payment of $40 per adult and $60 for each child under 19, reduced by 5% of the amount of adjusted family net income over $15,000.

Provincial tax credits paid with the GST/HST credit

Provincial benefits that are combined with the GST/HST credit

Newfoundland & Labrador Harmonized Sales Tax Credit (NLHSTC)