It pays to be a Canadian
The government is giving away over $2.5 billion to Canadians directly to help them cope with inflation. The Goods and Services Tax Credit (GSTC) payment will be doubled for 11 million individuals and families, including immigrants who qualify.
Couples with two children will also receive up to an extra $467 and seniors will receive a $225 cash gift.
Prime Minister Justin Trudeau said, global inflation is driving up the price of necessities, like groceries and rent, and making it harder for families to make ends meet.
He promised that “we will continue to support the middle class and people who need it most, when they need it most, by putting more money back in their pockets now.”
Who qualifies to get the extra government money?
- Parents to get up to $1,300 per child under 12 over two years
- A one-time top-up to the Canada Housing Benefit of $500 for renters who need it most
- 50% reduction in regulated child care fees
- $2,400 for modest-income families
- Additional $800 for Old Age Security pensioners aged 75 and over
Trudeau pledged that “we will continue to work hard to put more money back in the pockets of people, build an economy that works for all Canadians, and deliver results for the middle class and people working hard to join it.”