In need of a little relief? With rising costs on everything from gas to food – we could all benefit from a few extra bucks. Well, before summers-end, you could receive what is being called the Canada Grocery Rebate!
According to the Federal Government, The Cost Of Living Act, No 3. (or Bill C-46) has received Royal Assent, which means that new measures to provide inflation relief and support public health care have been given the OK.
As part of this, 11 million people could receive a one-time payment to help low and modest-income families cope with Canada’s inflated prices.
Canada is introducing a new rebate to help pay for groceries
Canada has a new Tax-Free First Home Savings Account & here’s how it works
Update: The Grocery Rebate is officially coming to eligible Canadians on July 5th. 11 million people across the country are going to receive hundreds of dollars in support by direct deposit or cheque. We’ll keep working to make life more affordable for you.
— Justin Trudeau (@JustinTrudeau) May 11, 2023
So when and what can you expect this?
Set to be delivered to those who are eligible on July 5th, 2023 through direct deposit or cheque via the Canada Revenue Agency, some could see a payment of up to $467.
This sum will depend on who you live with, for example – a family of four with a net income of $35,000 will receive the full amount, while single Canadians who are eligible with no children will get $234.
A single mother with one child and $30,000 in net income will receive $386.50 in addition to the $1,160 they receive through the GST Credit and a single senior, with $20,000 in net income will receive $233.50 – also in addition to the $701 they receive this benefit year through the GST Credit.
“While inflation continues to come down for the ninth month in a row, in Budget 2023, our government is delivering new, targeted inflation relief for Canadians who need it most, and providing immediate support to strengthen public health care for Canadians,” Said The Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance.
“It is excellent news for Canadians that Bill C-46 received Royal Assent today, following unanimous approval by the House of Commons just a few weeks ago.”
The best part? If you’re considered eligible and have filed your 2021 tax return, you will not need to apply to receive the Canada Grocery Rebate. It will simply be delivered along with your July GST Credit payment.
As always, we’ll be keeping a close eye on this one and will remind you before payments go out.
Curiocity In Your Inbox!
Want more? Subscribe to our newsletter for exclusive deals, stories, info & more!Subscribe Now