The Government of Canada has a number of benefits, payments and credits that will be sent out to eligible Canadians in October 2023.
For Canadians struggling with the rising cost of groceries, rent and just about everything else, it’s best to double-check your eligibility for a number of federal programs since you could be paid out hundreds of dollars throughout the month.
A few of the federal credits in Canada include the Canada Child Benefit, Canada Workers Benefit, and the GST/HST credit, all of which are being paid out this October.
So, here are the three federal credits and benefits Quebec residents could receive this October:
Canada Child Benefit
The Canada Child Benefit is a tax-free monthly payment made to eligible families who require additional help with the cost of raising children under the age of 18 years old. The Canada Child Benefit may also include the child disability benefit and any other related provincial or territorial financial programs.
To be eligible for the Canada Child Benefit you need to meet all of the following requirements:
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- you live with a child who is under 18 years old
- you are primarily responsible for the care and upbringing of the child
- you are a resident of Canada for tax purposes
- you or your spouse or common-law partner is a Canadian citizen, protected person, permanent resident or registered under the Indian Act
So, just how much can you receive from the Canada Child Benefit? The maximum amount for each child is $7,437 per year or $619.75 per month for kids under six years old and $6,275 per year or $522.91 per month for kids between 6 and 17 years old.
Canadians can expect to be paid from the Canada Child Benefit on Friday, October 20, 2023.
Canada Workers Benefit
The Canada Workers Benefit is a refundable tax credit to help certain Canadians (both individuals and families) who are working and earning a low income. The Canada Works Benefits is divided into two parts: a basic amount and a disability supplement.
The maximum basic amount for the Canada Workers Benefit is $1,428 for single individuals and $2,461 for families. However, it should be noted that the payment amount can vary for residents of Quebec, Nunavut and Alberta.
The maximum amount for the disability supplement is $737 for single individuals and $737 for families. Canadians should expect to receive their Canadian Workers Benefit payment on Thursday, October 13, 2023.
GST/HST Credit
The goods and services tax/harmonized sales tax, also known as the GST/HST credit is a tax-free quarterly payment issued by the Canada Revenue Agency that helps individuals and families with low and modest incomes offset the GST or HST that they pay. Canadians who file their taxes are automatically considered for the GST/HST credit.
The payment period is between July 2023 and June 2024, and Canadians could receive up to:
- $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
For those eligible for the GST/HST credit, the next payment is on Thursday, October 5, 2023.
This article’s cover image was used for illustrative purposes only.
Source: MTL Blog
