As grocery prices continue to rise, many Canadians are finding it increasingly difficult to afford basic necessities. To help ease this burden, the Canadian government is issuing a one-time grocery rebate in August 2024.
This rebate is designed to support low- to moderate-income households by providing some financial relief to help cover the cost of groceries. Here’s everything you need to know about the upcoming grocery rebate 2024, including payment amounts, dates, and eligibility.
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What is the Canada Grocery Rebate?
The Canada Grocery Rebate is a financial aid measure introduced by the government to help Canadians cope with rising food prices due to inflation.
It was first introduced as part of the 2023 budget and is an extension of the existing GST/HST credit. If you qualify for the GST/HST credit, you’re likely eligible for this grocery rebate 2024 as well.
This rebate is particularly important during times when many families are struggling to make ends meet. The one-time payment will be directly deposited into the bank accounts of eligible Canadians or sent by cheque for those who prefer that method.
How Much Will You Receive?
The amount of the grocery rebate varies depending on your income level and family situation. Here’s a general breakdown of the expected payments:
- Single individuals without children: Up to $234.
- Families with children: Between $387 and $628, depending on the number of children.
- Married or common-law couples without children: Up to $306.
The government aims to double the amount of GST/HST credits received, providing significant assistance to those who need it most. The exact amount you’ll receive will be determined by your 2021 income tax return and your current family situation.
When Will the Payments Be Made?
The Canada Grocery Rebate 2024 is expected to be paid out on August 5th, 2024. While this date is anticipated, it has not been officially confirmed by the Canada Revenue Agency (CRA). If you’re eligible and have direct deposit set up, the rebate will be automatically deposited into your account on or around this date.
If there’s a delay in receiving the payment, the CRA recommends waiting at least 10 days before contacting them to check the status of your payment.
Who Is Eligible for the Grocery Rebate?
Eligibility for the grocery rebate is determined based on several factors, including income, age, and family status. Here are the key eligibility criteria:
- Age: You must be at least 19 years old as of January 2024.
- Income: For single individuals, your income must be less than $45,000 to receive the full rebate. For families, the combined household income should not exceed $65,000.
- GST/HST Credit: You must be eligible for the GST/HST credit in January 2024 to qualify for the grocery rebate.
- Residency: You must be a resident of Canada when the payment is issued.
The rebate will be automatically issued based on your most recent income tax return, so there’s no need to apply separately. Just make sure your information, including your banking details, is up to date with the CRA.
How to Ensure You Receive the Rebate?
To make sure you receive your grocery rebate without any issues, it’s important to keep your banking information with the CRA up to date.
If you’ve recently changed your bank account or moved, notify the CRA as soon as possible to avoid any delays in receiving your payment. If you prefer to receive a cheque, ensure that your mailing address is correct.
FAQs
When will the grocery rebate be paid?
The grocery rebate 2024 is expected to be paid out on August 5th, 2024, though the exact date is still pending confirmation.
How much can I expect to receive?
The rebate ranges from $234 for single individuals to $628 for families with multiple children, depending on income and family size.
Do I need to apply for the rebate?
No, the rebate will be automatically issued based on your income tax return and GST/HST credit eligibility.
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