All the ways Canadians will get more money from the government this summer
Canadians can expect to get a new round of extra money from the government this summer.
As the travel season gets underway, it doesn't hurt to have some extra cash, especially as prices continue to soar for groceries and housing.
For those worried about the new expenses the summer season will inevitably bring, you could get some relief with the help of the federal government's benefits, credits, and rebates.
Here is how and when you'll receive more money from the feds this summer.
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:
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.
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.
The CWB is a refundable tax credit that helps low-income individuals and families.
You're eligible for the basic amount of CWB if you are:
Eligible single Canadians can receive up to $1,428; meanwhile, families can earn up to $2,461.
You can also get up to $737 for the disability supplement based on your annual income.
The Canada Carbon Rebate (previously known as the Climate Action Incentive Plan) is a tax-free amount to help eligible individuals and families offset the cost of federal pollution pricing.
It comprises a basic rebate and a supplement for residents in small and rural communities.
Canadians in Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Saskatchewan can receive the federal carbon tax rebate.
A family of four may receive the following quarterly payment amounts:
The amount you receive also depends on whether you qualify for a rural supplement, have a spouse or common-law partner, and whether you have children. You can calculate your carbon tax rebate here.
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