Canadians could be getting even more money from the feds tomorrow
On Friday, the federal government will give eligible Canadians some extra cash through the Advanced Canada Workers Benefit (ACWB).
The ACWB is granted to those entitled to the Canada Workers Benefit (CWB) on their income tax return.
It’s an advance payment of up to 50% of the CWB granted across three payments throughout the year.
The next payment is scheduled for October 11.
You are eligible if you are:
- Over 19 years old on December 31, or live with a spouse or common-law partner or your child,
- Are a resident of Canada throughout the year, and
- Are working but earning less than the net income level set for your province or territory of residence
Advanced Canada Workers Benefit amounts
The maximum basic benefit amount for the CWB is $1,518 for single individuals; meanwhile, families can earn up to $2,616.
The maximum disability supplement amount is $784 for individuals and families, based on adjusted net income.
The maximum basic and disability CWB amount will vary for those living in Quebec, Nunavut, and Alberta.
When it comes to the ACWB payment, those eligible for CWB will get up to 50% in advanced payments.
“You must be a resident of Canada on the first day of the quarter to be eligible for the advanced payments,” states the federal government.
If you’d like an estimate of your advanced payment amount, you can use the child and family benefit calculator here.
Do you need to apply to receive your payment?
You don’t need to apply to receive the advance payment, as the Canada Revenue Agency (CRA) determines your eligibility when you file your income tax and benefit return.
Friday’s payment will be the last ACWB of 2024.
This article was originally published on October 4, 2024. It has since been updated.