With spring in full force comes a slew of Government of Canada benefits and credits, and with inflation at all-time highs and the cost of living in Canada reaching new heights, many Canadians are looking for ways to save or earn more income. The federal government has several financial programs to help low-income Canadian families, residents with disabilities and/or Canadians who require extra financial aid due to age, employment status or who are newcomers.
With May around the corner comes a slew of government benefits and credits available to Canadians. It's important to verify if you are eligible to receive certain benefits and credits as you may be entitled to hundreds of dollars next month. A few benefits and credits include the Canada Pension Plan, Canada Child Benefit, the Ontario Trillium Benefit, and Old Age Security, to name a few.
The Government of Canada recently announced a brand new federal benefit that could affect over 600,000 Canadians. Following the government's 2024 Budget announcement on April 16, eligible Canadians can soon expect to receive up to $2,400 from a new disability benefit.
The Government of Canada, as well as several provincial government programs, have a slew of benefits and credits that could offer financial assistance.
With rent going up, the hike in food costs and the increase in the cost of day-to-day necessities, it's safe to say Canadians are looking for ways to offset inflation. Luckily, the Canada Revenue Agency has a slew of benefits and credits that could offer financial assistance.