In 2023, what are the benefits of the Canadian government?

In 2023, what are the benefits of the Canadian government?

From record rents to rising food prices, the cost of living is too high, and Canadians are feeling the pinch of inflation. The federal government has drawn up additional budgets to help citizens pressure inflation, from GST credits to dental benefits.

Canada Housing Benefit

The federal government hopes the rental top-up program, enacted earlier this month, will ease the economic burden on citizens. Millions of Canadians are eligible for a one-time Canadian housing benefit of $500. You must apply online from CRA by Friday, March 31, 2023.

GST Credit

In October, with royal consent, the Goods and Services Tax Credit doubled in at least six months. Canadians have already received aid, which doubled in November. The CRA will send the subsidy by July next year.

Canada Dental Benefit

Canada's new dental welfare program has been launched. Dental fees can be supported up to $1,300, depending on your income. Applications for the period from October 1, 2022 to June 30, 2023 opened on December 1, with the deadline until June 30, 2023. Once your application is approved, it will take up to 5 business days to receive a grant from the CRA. The second period is from July 1, 2023 to June 30, 2024.

Climate Action Incentive

The incentives for climate action from the federal government's carbon tax are benefits for taxpayers in Ontario, Alberta, Saskatchewan, and Manitoba. It was paid once a year in a way that was included in the tax refund, but converted quarterly. It was already issued last July and October.

Canada Workers Benefit

Canadian Worker Benefits (CWB) will be changed. The CWB is a tax-deductible grant that helps low-income individuals and families. Currently, you have to wait until the end of the tax year to receive this grant, and the federal government has proposed a law that will advance this period. If the law is enacted, subsidies can be received as early as July 2023 for the relevant tax year. This means that those eligible will receive the current tax refund and the expected refund in July next year in advance, combining the two.

Home Accessibility Tax Credit

The Home Accessibility Tax Credit will change for the disabled or the elderly. The tax credit will vary from the existing maximum of $1,500 to the future maximum of $3,000.

Labour Mobility Deduction

Labour Mobility Deduction is the deduction of specific transportation, meals, and temporary accommodation expenses for people in the trade industry.

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