All the ways Canadians could get extra money from the government in 2024
Canadians can expect to get some extra money from the government in 2024.
This year hasn't been easy when it comes to money with sky-high grocery prices, unaffordable housing, and the overall soaring cost of living in Canada.
So much so that some people have been forced to scratch names off of their holiday gift lists this season.
For those dreading the bills the new year 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 in 2024.
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 CAIP is a tax-free amount paid to help individuals and families offset the cost of federal pollution pricing.
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.
For province-specific benefits — including the Ontario Trillium Benefit and Alberta Child and Family Benefit — click here.
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