The Canada Grocery Rebate Bill C-46 received Royal Assent last year. The Bill endorses the financial needs of Canadians and enables them to have access to affordable lifestyles. The Grocery Rebate payment is a one-time payment and includes adult taxpayers, children of eligible couples, and seniors. To know more such as the latest details, Eligibility, and Amount of the grocery rebate, follow the post. The Federal Government aims to assist residents in buying affordable groceries as a huge budget is about to be allocated to cover the distribution cost and other expenses incurred in execution.
What is Canada Grocery Rebate Bill C-46?
The Grocery Rebate Bill sought to provide inflation relief to more than 11 million residents living in the country. If an individual has filed tax returns for 2023, they will be getting the upcoming grocery payment. The Bill seeks to support low and middle-income families and the final benefit amount will be determined by the annual income. In 2023, the Canada Grocery Rebate was provided for the very first time given the economic condition majorly affected by the pandemic. The Canada Revenue Agency distributed the benefit amount along with the federal GST/HST payments. Individuals who were already receiving the tax credit were considered eligible for the grocery payment.
The government announced the benefits in the budget announcements last year and then decided to provide huge relief. In 2024, the Grocery Rebate has not been provided so far but the citizens can expect the payment along with the next GST/HST Credit. Though the grocery rebate was expected to be released with the last GST/HST credit, residents can expect the payments with the upcoming tax credits in October 2024. Both the Grocery Rebate and GST/HST Credit will be provided on the same day and it will be directly transferred into the linked bank accounts. If couples have higher than mandated income, they will not be considered eligible for the payments not even reduced ones therefore, the previous year’s tax status will play an important role in deciding the eligibility.
Canada Hourly Wage Increase 2024
Grocery Rebate Bill C-46, Canada 2024 Quick Overview
|
Title |
Grocery Rebate Bill C-46 Details |
|
Country Origin |
Canada |
|
Administrative Authority |
CRA |
|
Category |
Grocery Rebate for Low-Middle Income Families |
|
Benefit Amount |
$628 |
|
Expected Payment Dates |
September 2024 |
|
Official Website |
www.canada.ca |
Canada Grocery Rebate Bill C-46 Payment Amount
A single person unmarried with no children will have $234 if the net income is less than $20,000. Single mothers with one child will get $387 if their Net income is less than $30,000. A couple along with two children will have $467 if the net income is less than $35,000. Refer to the following details
|
Status |
Grocery Amount for Single |
Grocery Amount for Married |
|
No child |
$234 |
$306 |
|
1 children |
$387 |
$387 |
|
2 children |
$467 |
$467 |
|
3 children |
$548 |
$548 |
|
4 children |
$628 |
$628 |
Eligibility for Canada Grocery Rebate Amount Claim
If a claimant has received GST/HST credit in July 2024, they can avail of the payments
- Previous year’s tax filing status is one of the most important eligibility criteria for the applicants
- So make sure that you have filed income tax returns before the 30th of April 2024 for the base 2023
- Tax should be filed whether income is taxable or not
- Having reached the age of 19, basically the claimant has started earning and making contributions to the economy
- Also holds a Social Insurance Number
- Have a permanent residency status and other legal documents
- Applicant is a resident of the country on the 1st of the month claiming the Canada Grocery Rebate in 2024
Fact Checks on Canada Grocery Rebate Bill C-46
The federal government was in view that it is quite challenging to afford basics with rising inflation levels for individuals therefore, billions of dollars will be spent on making groceries more affordable to the residents. In high inflation, raising children also adds oil to the ongoing financial issues. Owing to all those reasons, the CRA offered a huge Grocery Rebate Payment in 2023. But now in 2024, the CR Agency has not confirmed the news yet and families are waiting for final approval. Presently, no new grocery rebate has been allocated finances in budget 2024 therefore it might come out of so suddenly.
Canada Grocery Rebate Bill C-46 Latest News
The grocery rebate was officially accepted on the 11th of May 2023 and the CRA started rolling out the benefits on the 5th of July 2023. It is a one-time benefit which means that individuals receive the payments only once a year. In 2024, the grocery amount is coming on the 4th of October along with the GST/HST credit payments. And the CRA will be making the announcements soon. As of now, there are rumors that the payment might be coming in September itself but individuals can expect the grocery rebate in October 2024. The existing beneficiaries who have availed of the July month GST/HST credits will be eligible for the Canada Grocery Rebate. The benefit amount per individual depends on their circumstances so their annual income will decide whether they will have the payment or not.
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Raul joined SD News team in 2021, bringing his experience as a editor-cum writer on global financial & trending topics. From a young age, Raul developed a keen interest in Finance, which propelled his to pursue an undergraduate degree in global and international studies. Raul skillfully combines his knowledge of political economy and finance to empower readers with crucial insights.