Canadians who qualify will soon receive a one-time grocery rebate on Wednesday, July 5.
The government announced the grocery rebate as part of the 2023 federal budget, and after several months of anticipation, eligible Canadians will finally receive their payment. The rebate will be provided through direct deposit or cheque by the Canada Revenue Agency (CRA).
In addition to the grocery rebate, the recently approved Cost of Living Act, Bill C-46, includes a $2 billion Canada Health Transfer (CHT) top-up to address backlogs and reduce wait times in healthcare.
The grocery rebate was introduced to offset the higher prices of groceries caused by inflation, but it can be spent on any purchase.
The grocery rebate amount will differ depending on the individual’s family situation. Eligible couples with two children can expect to receive up to $467, single Canadians without children up to $234, and seniors up to $225, on average.
No application is required to receive the rebate. Individuals and families who are eligible for the GST/HST credit in January 2023 and have filed a tax return for 2021 will automatically receive the payment, even if they had no income to report in that year.
The rebate will be issued alongside the next quarterly GST/HST credit payment, which will be double the usual amount received in January 2023. The CRA stated that the payment will be calculated based on the individual’s family situation in January 2023 and their 2021 adjusted family net income.
It’s important to note that eligibility for the Grocery Rebate and the July GST/HST credit payment may not necessarily overlap. The rebate is based on the 2021 tax return, while the GST/HST credit payment is based on the 2022 tax return.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
