Canada Grocery Rebate Bill 2024 – Due to the rising prices of goods, including food and fuel, we are unable to save. The new Canada Grocery Rebate Bill, also known as Bill C-46, has been approved to help with the increasing cost of living. The government aims to support public health care and combat inflation through this initiative. Approximately 11 million Canadians may qualify for this rebate, with varying payment amounts based on income and household composition. For example, a family of four with a net income of CAD 35,000 would receive the full rebate, while a single senior with a net income of CAD 20,000 would receive CAD 233.50, in addition to the CAD 701 from the GST Credit. Similarly, a single mother with one child and a net income of CAD 30,000 would receive CAD 386.50, in addition to the CAD 1,160 from the GST Credit.
Canada Grocery Rebate Bill
The Canadian government passed the Grocery Rebate Bill (C-46) in response to the current state of the world economy and the increasing prices of essential items. This legislation, a key component of the Cost of Living Act, aims to provide financial assistance to those in low-income brackets. It encompasses various benefit programs to aid the general population in overcoming current financial challenges. The Grocery Rebate Bill is tailored to assist individuals experiencing financial hardships and mitigate the impact of rising inflation rates, with the potential to benefit millions of eligible recipients.
Canada Grocery Rebate Bill News (C-46)- Details
|Canada Grocery Rebate Bill
|Name of Department
|Canada Revenue Agency
|Eligibility Based on
Will Bill (C-46) Help or Make the Situation Worse?
The grocery rebate is being offered at a time when Canadians are still struggling to afford food due to the high food costs caused by inflation. Although the annual inflation dropped to 3.4% in 2023, which is the lowest level in a long time, the prices of food items are still rising rapidly. In 2023, the cost of groceries went up by 9%, with cereal items increasing by 13.6%, bread goods by 15%, and edible fats and oils by 20.3%, according to Statistics Canada. Additionally, the cost of dining out is also on the rise, with a 6.8% increase in May following a 6.4% increase in April.
Canada Grocery Rebate Bill Income limits
If your family income exceeds a certain threshold, you are not eligible for the Canada Grocery Rebate 2024 Payment, as it is intended for low-income households. The eligibility criteria for the January 2023 GST/HST credit are similar. Without a submitted 2021 tax return, you will not qualify for the food rebate. The necessary paperwork and information for filing your 2021 tax return can be obtained from the Canada Revenue Agency (CRA).
|Single parent, one child
|Single parent, two children
|Single parent, three children
|Single parent, four children
|Married or CLP couple
|Married/CLP, one child
|Married/CLP, two children
|Married/CLP, three children
|Married/CLP, four children
Canada Grocery Rebate Bill- Eligibility
To be eligible for the Canada Grocery Rebate Bill, you need to have filed a tax return for 2021, regardless of whether you had any income to report. The rebate is based on your 2021 tax return, and those who qualify for the GST/HST credit in January 2023 will receive the Grocery Rebate. Even if you weren’t eligible for the GST/HST credit, you may still be eligible for the Grocery Rebate in July 2023, as the July 2023 GST/HST credit was calculated using your 2022 tax return.
How does the new grocery rebate in Canada works?
The Canada Grocery Rebate, introduced on July 5, 2023, alongside the quarterly GST/HST credit payment for July 2023, provides a one-time financial boost. This rebate is worth double the amount of the GST/HST credit received in January 2023, with the specific amount dependent on marital status and the number of children.
|Number of children
|Maximum amount for single
|Maximum amount for married or have a CLP
The Canada Grocery Rebate Bill 2024 is a significant development that aims to provide financial relief to eligible individuals and families. With the implementation of this bill, grocery rebate payments will be distributed to those who meet the specified criteria. This initiative seeks to alleviate the financial burden on households and ensure that everyone has access to essential food items. As we look forward to 2024, it is crucial for Canadians to stay informed about this program and its eligibility requirements. By doing so, individuals can take advantage of the grocery rebate payments and improve their financial well-being. Stay tuned for updates on this important bill as we strive towards a more inclusive and supportive society.