The Canadian Revenue Agency (CRA) has announced that Canadians will receive their one-time groceries benefit payment on June 5.
The payment is part of the government’s new Canada Groceries and Essentials Benefit, which is set to replace the existing GST/HST credit.
“This payment will provide immediate support to more than 12 million Canadians with low and modest incomes to help manage day-to-day essential costs until the CGEB comes into effect,” the CRA statement reads.
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Prime Minister Mark Carney announced the Canada Groceries and Essentials Benefit on Jan. 26, stating that the federal government is raising the existing GST credit amount by 25 per cent and providing a one-time payment “equivalent to 50 per cent of the GST credit this year.”
“Right now, a family of four receives about $1,100 a year with the existing GST credit. With the new Canada Groceries and Essentials benefit, that same family will receive up to $1,890 this year and about $1,400 a year for each of the next four years,” Carney said.
More to come.