How good are Canadian Benefits in 2023?
Canada’s new financial policy greatly benefits those worried about their new year bills. It is a sign of hope in the rising inflation era, and indicates that Canada is an attractive destination for those seeking financial stability and security. All in all, this policy serves as a great opportunity to get ahead financially and secure a more prosperous future.
One-off tax-free housing benefit of CAD$500
Tenants who meet the criteria can submit applications now and the deadline is March 31, 2023.
Double the GST rebate
This bill was approved on 10/18/2022, officially doubling the GST to 6 months. Millions of Canadians have already received a one-time doubled GST rebate for November 2022.
Dental benefits, up to CAD$1300 subsidy
Canada’s new Dental Benefit Program is officially launched to help families get much-needed dental services. People can get up to CAD$1,300 to account for dental services, subject to the policy criteria.
Climate Action Incentive Program
Climate Action Incentive (CAI) is a refundable tax credit claimed annually on individual income tax returns. This year, CAI payments were changed to quarterly payments.
Canada Workers Benefit (CWB) changes mean eligible Canadians can receive their money faster. The CWB is a refundable tax credit that helps low-income individuals and families.
Family Accessibility Tax Credit
This non-refundable tax credit is available for qualifying home renovation or alteration expenses that make homes more accessible to people with disabilities. If eligible, you can claim a tax credit of up to CAD$3,000.
Labor Migration Credit
Available to eligible workers, credits are available for certain transportation, meal, and temporary lodging expenses earned by traveling to remote