On Wednesday, July 5, 2018, qualified residents of Canada will be provided with an official one-time grocery reimbursement.
After being promised as part of the 2023 federal budget, the benefit’s long-awaited payment has finally been released. The Canada Revenue Agency (CRA) will distribute the grocery rebate to qualified Canadians, as announced by the federal government.
The reimbursement was first announced in May, the same month that the Cost of Living Act, Bill C-46, gained Royal Assent. An additional $2 billion has been added to the Canada Health Transfer (CHT) as part of the legislation, per the May statement, with the goal of decreasing wait times and backlogs.
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What is the Rebate Amount?
On average, the reimbursement will be $225 for seniors, $234 for single Canadians, and $467 for couples with two children.
You can get your rebate automatically. Although an individual or family has filed a tax return for 2021, even though they have no income to report, they will still be eligible to receive the GST/HST credit for January 2023.
Next quarter’s GST/HST credit payment, which includes the rebate, will be equal to two months’ worth of GST/HST credits for January 2023 that Canadians received.
The organization did note that some Canadians may qualify for the Grocery Rebate but not the GST/HST rebate in July, or vice versa.
About 11 million Canadians will receive the rebate automatically if their combined annual income is $38,000 or less, or $32,000 if they are single.
The agency states that a single person is eligible to earn a maximum payout of:
- Without any kids, the price drops to $234.
- $1,019 (with 5 children)
- Spending on Two Kids: $467
- Including three kids ($548)
- Costs $628 (with four kids)
If you have a spouse or common-law partner, you may be eligible for up to
- (No kids included) $306
- $1,019 (with 5 children)
- Spending on Two Kids: $467
- Including three kids ($548)
- Costs $628 (with four kids)
Taxpayers who receive their GST/HST credit payment in a lump sum in July 2022 are still eligible for a food rebate, according to the CRA.
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Source: MSN