The Liberals’ promised ‘grocery rebate’ is coming to eligible Canadians in early July. The legislation that implements the one-time $2.5 billion affordability-focused payment was passed by the Senate on Wednesday.
Bill C-46, also called the Cost of Living Relief Act, No. 3, would give 11 million low- and modest-income Canadians “hundreds of dollars in support by direct deposit or cheque” on July 5th.
Recipients of the grocery rebate will not be required to spend the money on groceries, they will have the freedom to use the rebate as they see fit. A single person with no children could receive a one-time grocery rebate of up to $234. A couple with two children could receive up to $467, and a senior citizen about $225.
Sponsored · Silver47 Exploration Inc.
Canadian households earning $38,000 or less, and individuals earning $32,000 or less will automatically be eligible to receive the grocery rebate along with the July GST credit, but to receive the payment, it’s required for recipients to have filed their 2021 tax return.
The new legislation also enacts a $2 billion “unconditional” federal health transfer top-up that will soon be distributed to provinces and territories.
Information for this story was found via CTV News, Twitter, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
