cra tax credit

All the ways Canadians will get more money from the government this summer

Canadians can expect to get some money from the government this summer to help with the soaring cost of living.

Several of the federal government's benefits, credits, and rebates are set to provide much-needed extra cash to eligible people nationwide.

Here is how you can receive more money from the feds in the next few months.

GST/HST credit
 

Payment due: July 5

The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment.

It aims to help Canadian individuals and families with low to modest incomes offset the taxes that they pay.

According to the government, you could get up to:

  • $467 if you are single
  • $612 if you are married or have a common-law partner
  • $161 for each child under the age of 19

You don't need to apply for this credit because you're automatically considered for it when you file your taxes.

Last year, Ottawa doubled the GST Credit for six months during the height of inflation.

Grocery rebate

Payment due: July 5

This rebate was proposed in the 2023 federal budget and became law last week, officially allowing eligible Canadians to receive extra money for groceries.

The Canada Revenue Agency confirmed in early May that it plans to issue the one-time grocery rebate on July 5.

Ottawa says it'll provide $2.5 billion in targeted inflation relief for low to modest-income Canadians and families.

The grocery rebate will give eligible couples with two children up to $467 extra.

Single Canadians without children can get up to $234 extra, and seniors will get up to $225 extra on average.

However, the extra payment won't arrive as a separate deposit in your bank account. Instead, it'll be integrated with the regular GST/HST credit scheduled for July, says the CRA.

Many Canadians have expressed their frustrations surrounding the rebate's stringent eligibility requirements.

Canada child benefit (CCB)


Payment due: June 20, July 20, August 18

The CCB — a tax-free payment from the government to help with the cost of raising children — is administered monthly by the Canada Revenue Agency (CRA).

Read this to learn if you're eligible, how you can apply, and how much you can get.

Climate action incentive payment (CAIP)
 

Payment due: July 14

The CAIP is a tax-free amount paid to help individuals and families offset the cost of federal pollution pricing.

This year, it's available to residents of Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.

It consists of a basic amount and a supplement for residents of small and rural communities and is paid quarterly.

Lead photo by

PiggyBank


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