Finance
May 2, 2016

Protecting Most Vulnerable in Society

New Online Tool to Help Estimate Benefits under Enhanced Seniors� Benefit and New Income Supplement

Today the Provincial Government launched a new online calculator to provide low income residents with a user-friendly way of determining the approximate benefit they will receive from the new Newfoundland and Labrador Income Supplement and the enhanced Seniors� Benefit announced in Budget 2016.

�Through Budget 2016, the Provincial Government is investing $63.7 million in a new income supplement and $12.7 million for an enhanced Seniors� Benefit, for a total of $76.4 million. This online calculator is a user-friendly tool to help low income residents estimate how much money they will receive quarterly through these new benefits.�
- The Honourable Cathy Bennett, Minister of Finance and President of Treasury Board

Through the online calculator low income residents and seniors can input their net income to determine if they are eligible to receive the income supplement and based on the accuracy of the information provided they will be able to see how much they are entitled to receive. The calculator also provides seniors with the revised projections for the enhanced Seniors' Benefit and will clearly indicate a quarterly payment amount available to eligible residents.

�As a government we have a responsibility to ensure that there is a plan in place to address the unprecedented fiscal challenges facing Newfoundland and Labrador. However, we also have an obligation to protect our low income seniors, families, individuals and persons with disabilities in the face of these necessary new revenue measures. This new online calculator is an innovative tool to help these individuals learn how the new income supplement will help support the most vulnerable in our province.�
- Minister Bennett

The online calculator can be found at www.budget.gov.nl.ca/budget2016/incomesupplement/. A how-to video demonstrating how the calculator works can be viewed at https://youtu.be/LXAPFxtstlc External Link.

QUICK FACTS

  • The Provincial Government launched a new online calculator for residents to determine if they are eligible to receive the new Newfoundland and Labrador Income Supplement and the enhanced Seniors� Benefit.
  • Through the online calculator residents can input their net income and depending on the accuracy of their responses will be able to see how much income supplement they will receive and how much they are entitled to through the enhanced Seniors� Benefit.
  • The calculator will also indicate a quarterly payment amount available to eligible residents.

The online calculator can be found at www.budget.gov.nl.ca/budget2016/incomesupplement/. A how-to video demonstrating how the calculator works can be viewed at https://youtu.be/LXAPFxtstlc External Link.

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Media contact:
Jennifer Tulk
Director of Communications
Department of Finance
709-729-6830, 728-4104
jennifertulk@gov.nl.ca 

2016 05 02                             4:45 p.m.