The Government of Canada is extending a handful of federal benefits and credits to eligible Canadians throughout 2024 the Canada Workers Benefit (CWB) included.
The Government of Canada is extending a variety of federal benefits and credits to eligible Canadians in February of 2024, which can provide necessary financial assistance amidst rising living costs across Canada, particularly for low-income residents.
Amidst the escalating economic challenges, the Government of Canada offers a range of federal benefits and credits to provide support, particularly for families facing financial strain. The Canada Workers Benefit (CWB) stands as a refundable tax credit designed to assist individuals and families with low incomes who are actively employed.
Tax season is frustrating and inevitable, like piles of snow on the street or your weird relative oversharing at a holiday dinner. On the bright side of all the bureaucracy is the potential to earn a little windfall from the government, depending on your employment status and income, among other things. The Canada Worker's Benefit (CWB) is one such windfall, offering up to $1,428 to eligible individuals and $2,461 to eligible families. Let's take a look at this credit, how you can secure it, and what the Canada Revenue Agency (CRA) does to determine how much you'll get.