Some Canadians can expect more money from the feds today
According to the federal government, eligible Canadians will be receiving some extra cash today through the Canada Workers Benefit (CWB).
The CWB is a refundable tax credit that helps low-income individuals and families.
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.
Canadians receiving their Canada Workers Benefit payments today will get a combination of the current tax return payment and the new advance payment.
Eligible single Canadians can receive up to $1,428; meanwhile, families can earn up to $2,461.
Canadians can also get up to $737 for the disability supplement based on their annual income.
However, if you signed up for the Advanced Canada Workers Benefit (ACWB), which is equal to 50% of the CWB (issued on July 12), you will receive the rest of your payment this week.
The next CWB payments will be issued on October 12, 2023, and January 12, 2024.
With files from Isabelle Docto
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