Canada’s new rebate to help pay for groceries rolls out this week

In need of a little relief? With rising costs on everything from gas to food, we could all benefit from a few extra bucks. This week, you could receive money back for your groceries thanks to the new 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.

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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.

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.

So, keep an eye out for some extra cash in your bank account this week, courtesy of the government!