Canada Groceries and Essentials Benefit: One-Time Payment and Program Details
Canadians are set to receive a one-time groceries benefit payment from the Canadian Revenue Agency (CRA) on June 5. This payment is part of the new Canada Groceries and Essentials Benefit program, which will replace the current GST/HST credit. The CRA stated that this payment aims to provide immediate support to over 12 million Canadians with low and modest incomes to help cover essential costs until the CGEB is fully implemented.
The announcement of the Canada Groceries and Essentials Benefit was made by Prime Minister Mark Carney on Jan. 26. The government plans to increase the existing GST credit amount by 25% and offer a one-time payment equivalent to 50% of the GST credit for this year. Carney highlighted that a family of four currently receives around $1,100 annually through the existing GST credit. With the new benefit, the same family could receive up to $1,890 this year and approximately $1,400 per year for the next four years.
Stay tuned for more updates on the Canada Groceries and Essentials Benefit program.