Important Details on the Upcoming July 5 Grocery Rebate
Upcoming One-Time Grocery Rebate: Essential Information for Canadians
Mark your calendars, as eligible Canadians are eagerly anticipating the arrival of a highly anticipated one-time grocery rebate scheduled for this Wednesday, July 5.
This eagerly awaited payment follows months of anticipation since its announcement as part of the 2023 federal budget. The federal government has assured that the grocery rebate will be conveniently delivered to eligible Canadians either through direct deposit or by cheque, facilitated by the Canada Revenue Agency (CRA).
Concurrent with the May announcement of the rebate, Bill C-46, commonly known as the Cost of Living Act, received Royal Assent. This legislation not only enables the implementation of the rebate but also includes a substantial $2 billion Canada Health Transfer (CHT) top-up. The purpose of this additional funding is to alleviate backlogs and reduce wait times in the healthcare system, as mentioned in the May statement.
The rebate was introduced as a means of providing compensation to Canadians for the rising grocery prices resulting from inflation. However, it is important to note that the rebate is not limited to grocery expenses and can be utilized for any expenses as desired.
The anticipated rebate amounts for eligible individuals and families have been determined as follows: couples with two children may receive up to $467, single Canadians without children may be eligible for $234, and seniors may qualify for $225, on average.
It is worth noting that there is no need for individuals to actively apply for the rebate. Those who were entitled to receive the GST/HST credit for January 2023 and have filed a tax return for 2021, even if they had no income to report during that year, can expect to receive the payment automatically.
The issuance of the rebate is scheduled to align with the upcoming quarterly GST/HST credit payment. Consequently, the rebate amount will be equivalent to double the sum Canadians received for the January 2023 GST/HST credit payment.
Approximately 11 million Canadians with a household income of $38,000 or less, as well as individuals earning $32,000 or less, can expect to receive the rebate without the need for any additional steps or applications. The process will be automatic, ensuring that eligible individuals are included in the issuance of the rebate.
Based on information provided by the agency, the maximum payment amounts for eligible individuals vary depending on their marital status and the number of children they have. If you are single, the potential maximum payment amounts are as follows:
- $234 (no children)
- $387 (1 child)
- $467 (2 children)
- $548 (3 children)
- $628 (4 children)
For those who are married or have a common-law partner, the potential maximum payment amounts are:
- $306 (no children)
- $387 (1 child)
- $467 (2 children)
- $548 (3 children)
- $628 (4 children)
Additionally, the Canada Revenue Agency (CRA) emphasizes that even if you received your GST/HST credit payment as a lump sum in July 2022, you will still be eligible to receive the grocery rebate.
