The government has doubled the GST Credit for 6 monthsβto help make life more affordable for millions of Canadians.
Starting today, eligible Canadians will begin receiving the additional one-time GST Credit payment.
Single Canadians without kids will get up to $234 more, couples with two kids will get up to $467 more, and seniors will get $225 more on average β and payments are going out today.
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Quick Facts
- Doubling the Goods and Services Tax Credit for six months is part of the Government of CanadaβsΒ planΒ to make life more affordable for Canadians this year.
- As part of this plan, the government alsoΒ introduced legislationΒ to:
- Provide a Canada Dental Benefit to children under 12 who do not have access to dental insurance, starting this year. Direct payments totalling up to $1,300 per child over the next two years (up to $650 per year) would be provided for dental care services. This is the first stage of the governmentβs plan to deliver dental coverage for families with income under $90,000, and will allow children under 12 to get the dental care they need while we develop a comprehensive national dental care program.
- Provide a one-time top-up to the Canada Housing Benefit to deliver $500 to 1.8Β million Canadian renters who are struggling with the cost of housing. This more than doubles our BudgetΒ 2022 commitment, reaching twice as many Canadians as initially promised. This new one-time federal benefit will be in addition to the Canada Housing Benefit currently co-funded and delivered by provinces and territories. The federal benefit will be available to applicants with an adjusted net income below $35,000 for families, or below $20,000 for individuals, who pay at least 30 per cent of their income on rent.
- In addition, we are already putting more money back in the pockets of Canadians by:
- Enhancing the Canada Workers Benefit to support workers this year, with a couple receiving up to $2,400 more this year, and single workers receiving up to $1,200 more. Most recipients first received this additional support through their 2021 tax refund.
- Cutting regulated child care fees in half on average for families in Canada by the end of this year.
- Increasing by 10 per cent the Old Age Security (OAS) pension for seniors 75 years and older, starting in July 2022, providing more than $800 in new support to full pensioners over the first year and increasing benefits for more than three million seniors.
- Providing more support for students by doubling the Canada Student Grant amount until July 2023 and by waiving interest on Canada Student Loans permanently. An average student loan borrower will save $410 per year as a result of their loan being interest-free.
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