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Federal government starts rolling out grocery rebate payments

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Grocery rebate payments from the federal government will begin to appear in eligible Canadian bank accounts starting today.

The government is asking for a lump-sum payment to ease inflation for about 11 million low- and middle-income households.

This echoes a temporary increase in the GST rebate proposed by the government last year to address rising cost of living concerns. Those eligible for the GST rebate as of January 2023 will be eligible for the one-time charge. No application is required.

Payment amount is based on net income For tax year 2021. Single Canadians without children will not be eligible for the rebate if their annual income exceeds $49,166, but families with four children will continue to receive the rebate until their annual income exceeds $64,946.

The federal government Publish table detailing income limits for grocery rebates on that website.

Eligible families of four can receive up to $628 by direct deposit or check from the Canada Revenue Agency. Singles without children will be given up to $234. Fees depend on income and number of children in the household.

GST rebates are issued quarterly and payment dates for 2023 are 5th January, 5th April, 5th July and 5th October 2023.

The Canada Revenue Agency said some Canadians may be eligible for the July GST rebate but not the food rebate and vice versa. This is because grocery rebates are calculated using your 2021 income tax returns, while GST rebates are calculated based on your 2022 tax returns.

The amount a Canadian can earn from their annual GST rebate depends on their family income level and family size.federal government published the chart Learn more about the various GST payments.

Watch | What You Need to Know About Grocery Rebates:

What you need to know about grocery rebates

The top two questions are probably “Am I eligible? How much will I get?”

Finance Minister Chrystia Freeland admitted at a press conference on Wednesday that the lump-sum payment would not fully address the rising cost of living. She said it will still affect those who need it most.

”[The rebate] “This is genuine and meaningful support and will make a difference for those who need it most,” she said. No, I have to be honest about it. ”

Freeland added that providing more financial aid to more Canadians would likely lead to a further rise in inflation.

“It was really important to us not to make things worse,” she said.

Statistics Canada announced last week that Canadian inflation fell to 3.4% in May. This is the lowest inflation rate in the country since June 2021.

Despite the overall slowdown, food prices continued to rise at a fast pace in May. Food prices rose almost 9% year-on-year, just below the 9.1% recorded in April, but still almost triple the overall inflation rate.

View | Here are the grocery rebates your budget promises. CBC’s About That looks at how it works and who gets it.

What exactly are Canada’s new grocery rebates? | About it

When the federal budget was released on Tuesday, it included what Finance Minister Chrystia Freeland called a “grocery rebate.” CBC business correspondent Peter Armstrong joins Andrew Chan to detail what it is, who gets it, and why it has absolutely nothing to do with groceries.

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