Canadians could get this government benefit ahead of the long weekend
Canadian workers who qualify for the Advanced Canada Worker Benefit (ACWB) can expect to receive their benefits just in time for the long weekend.
Those who are eligible for ACWB benefits should check their bank accounts as payments are set to go out on Thursday, Oct. 9. The benefit is a refundable tax credit meant to give low-income workers financial support. Eligibility depends on your income and family situation.
The last payment went out in July, and Canadians saw their payments increase by two per cent, with the amount adjusted to keep up with inflation and the rising cost of living.
How much could you receive?
The benefit has two parts: a basic amount and a disability supplement.
Including the recent two per cent increase, the maximum benefit during the payment period for single individuals with no children is $1,665, while the maximum benefit for families is $2,869.
Those eligible to receive the disability maximum supplement will get a maximum of $860.
“If you are entitled to receive the Canada Workers Benefit (CWB), you will get up to 50 per cent of your CWB in advance payments under what is referred to as the ACWB,” explains the CRA website. “If you are entitled to receive the disability supplement, you will also receive 50 per cent of your disability supplement amount with your basic advanced payments.”
Who’s eligible for this benefit?
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You’re eligible for the basic amount of the worker benefit if you:
- Earn working income and your net income is below the net income level set for your province or territory of residence
- Are a resident of Canada throughout the year
- Are 19 years of age or older on Dec. 31, or you live with your spouse or common-law partner or your child
Canadians can be eligible for the disability supplement of the benefit if they are eligible for the disability tax credit and have an approved form on file with the CRA. Their net income also has to be below the net income level set for their province or territory of residence.
For more information, visit the CRA website.
You can also check out all the government benefits that Canadians can expect to receive in October.
With files from Isabelle Docto