The alleged grocery rebate has received official approval.
Beware, consumers! With the formal approval of Canada’s new food rebate, millions of Canadians will now be eligible to receive the one-time payout before the end of the summer.
The Cost of Living Relief Act, No. 3 (Bill C-46), which was signed into law on Thursday, will allow up to 11 million individuals to obtain financial assistance over the next two months.
The government declared that the reimbursement will be given out by the Canada Revenue Agency as early as July 5 by direct deposit or check.
Justin Trudeau, the prime minister, tweeted about the development late on Thursday. He stated, “The Grocery Rebate is officially coming to eligible Canadians on July 5th. Direct deposit or check payments of hundreds of dollars will be made to 11 million people around the nation.
We’ll keep working to lower your costs of living, he continued. Although the rebate was initially intended to assist offset the growing cost of groceries, Canadians will have the freedom to use the funds anyway they see appropriate and are not required to use them only for food-related items.
The plan, known as the “Grocery Rebate,” will provide up to $234 for a single individual without children, up to $467 for a couple with two kids, and roughly $225 for elderly residents.
The food rebate is projected to help an estimated 11 million low- and modest-income Canadians and families, albeit there is an eligibility requirement.
Those with a household income of $38,000 or less and individuals making $32,000 or less would automatically receive the cash, according to Global News. Payments are expected to be sent in conjunction with the July GST credit payment.
Although eligible individuals and families can get the funds without applying, it is imperative to complete a 2021 tax return if you haven’t already. Failure to comply could cause issues with obtaining the payment or perhaps result in payment not being received at all.
The federal budget for 2023 included a provision for the grocery rebate, with the goal of making life more affordable for Canadians.
