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| *The Commerce Journal>>>Canada Taxes |
Canada Pension cheques? |
Is the estate entitled to the cheque recieved in the month the deceased died even if the cheque is for the following month. No I don`t think so. I received many different kinds of correspondence when my husband died including a cheque from them. I cashed it but had to return the money. To be sure call them and they can advise you, they`re very good like that. No, the estate is not entitled to the CPP benefit, and the estate must pay it back if it did cash it. The spouse/survivor will receive a death benefit 6 times the normal monthly benefit calculated at age 65 to a max of $2,500. If the deceased died on, say, May 16th then the CPP cheque that arrives near the end of the month can be cashed if the surviving spouse has a Power of Attorney for the deceased spouse. If not they should return the cheque and another one will be issued in their name. If there is no surviving spouse then the cheque would go to the estate. Remember CPP cheques are not paid ahead. When you turn 65 (if you do not elect to take it earlier) your cheque will be for the month following the month of your birthday. Same with OAS (Old Age Security). If there is a death benefit it will be taxed in the hands of the surviving spouse in the year that it was received. I hope this was of some help. |
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