April is a busy month when it comes to federal rebates, credits and benefits.
Canadians who qualify could potentially see three cheques in the mail (or directly deposited); the GST/HST credit, the Canada Carbon Rebate and the Canada Child Benefit (CCB)
The first credit that you could receive is the Goods and Services Tax/Harmonized Sales Tax Credit on April 5. Those who qualify get quarterly payments.
Here is how much you could receive after all four payments:
- $496 if you are single
- $650 if you are married or have a common-law partner
- $171 for each child under 19 years of age
It is designed to assist Canadians with low to modest incomes in reducing their tax burden. Application is not required, as individuals are automatically considered for this credit when filing their taxes.
Up next on the calendar is the Canada Carbon Rebate on April 15, formally known as the Climate Action Incentive Payment.
According to the Government of Canada, the rebate takes fuel charge proceeds and returns it to Canadians through direct deposit or cheque three times a year. This ensures most households get money back, with lower-income households benefiting the most. Each year when you file your taxes you apply for the rebate automatically.
Since 2019, the pollution pricing program, coupled with the corresponding rebate system, has been operational.
This initiative imposes a fee on greenhouse gas emissions, increasing the cost of burning fossil fuels, as well as motivating Canadians to alter their behaviours.
Here is how much you could expect in your pocket if you qualify:
- $225 for an individual
- $112.50 for a spouse or common-law partner
- $56.25 per child under 18
Families residing in rural and small communities could qualify for an additional 20 per cent.
The third and final payment in April is the Canada Child Benefit on April 19.
This tax-free payment from the government, designed to assist with the expenses of raising children, is distributed monthly through the Canada Revenue Agency (CRA).
To apply for the benefit, see if you are eligible and see how much you could receive, click HERE.