Check your bank account — the grocery rebate is set to be issued today, providing millions of Canadians hundreds more dollars to help offset rising food costs.

The one-time grocery rebate was introduced by the Liberals in the 2023 fiscal budget back in March as part of the Cost of Living Relief Act, or Bill C-64.

The House of Commons unanimously approved the legislation in April, and it passed the Senate in early May.

In an email to Daily Hive in May, the CRA said the grocery rebate payments would coincide with the next scheduled GST/HST credit payments.

"Pending the enactment of the proposed legislation, the Canada Revenue Agency expects to issue the Grocery rebate to eligible individuals in a few weeks, more precisely on July 5, 2023," said Sylvie Branch, spokesperson for the CRA.

Here's everything you need to know about this cash flow.

Who's eligible for the grocery rebate, and how much will you get?

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

"The Grocery Rebate will be double the amount of your GST/HST credit payment from January 2023," reads the Government of Canada site. "The amount is calculated based on your family situation in January 2023 and your 2021 adjusted family net income."

If you're single, you could receive a maximum payment of up to:

• $234 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

If you're married or have a common-law partner, you could receive up to:

• $306 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

Seniors will get up to $225 extra on average.

How will it be issued?

The grocery rebate 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 5, says the CRA.

If your payment has been delayed, the CRA says there are two factors that could be causing that. Read this to learn more.

The plan was not well-received by Canadians when it was first announced. Many slammed the so-called grocery rebate, calling it a "band-aid solution" that doesn't address the real issues.