These 5 Federal Benefits Are Giving Out Money In July & You Can Get Hundreds Of Dollars

Grocery Rebate

The Grocery Rebate is scheduled to go out on July 5, 2023, and it'll be equivalent to double the GST/HST credit amount you received in January.

To get the rebate, you must have filed a tax return for 2021, even if you have no income to report that year.

If you're single, you could receive a maximum payment of up to:

• $234 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

If you're married or have a common-law partner, you could receive a maximum payment of up to:

• $306 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

Trudeau said that 11 million people in Canada would be eligible to receive the grocery rebate in July.

GST/HST credit

The GST/HST credit is given out to Canadians to help offset the GST — goods and services tax — or HST — harmonized sales tax — that they pay. It can also include money from provincial and territorial programs.

"This is a payment that goes out tax-free to individuals and families with low and modest incomes," Trudeau said. "If you're a single Canadian, you may be eligible for up to $496 a year.

It's a quarterly payment and money will go out on July 5 this year.

You're automatically considered for the GST/HST credit when you file your taxes with the Canada Revenue Agency (CRA.)

Canada child benefit

The Canada child benefit, also known as the CCB, gives parents a tax-free monthly payment to help with the cost of raising children under 18 years of age.

To be eligible for the CCB, you have to:

• live with your child who is under 18 years old
• be primarily responsible for the care and upbringing of the child
• be a resident of Canada for tax purposes

You can apply for the CCB when you register the birth of your child with your province or territory or later on through the CRA.

Currently, the maximum amount that the benefit pays out for each child is $6,997 per year — $583.08 per month — for children under six years old and $5,903 per year — $491.91 per month — for children between 6 and 17 years old.

"Every July, that amount is adjusted based on your family income and index to inflation," Trudeau said.

You'll get the adjusted and updated payment amounts starting on July 20 this year, which are going up to $7,437 per year for children under 6, and $6,275 for children between the ages of 6 and 17.

If your total amount from the CCB for the year is less than $240, you'll get one lump sum on the July payment date instead of monthly payments throughout the year.

Climate action incentive payment

The climate action incentive payment is a tax-free amount paid to people in certain provinces to help offset the cost of federal pollution pricing.

"It puts more money back in the pockets of families while fighting climate change and protecting our environment," the prime minister said.

This payment is available in Ontario, Alberta, Saskatchewan, and Manitoba, along with Nova Scotia, P.E.I., Newfoundland and Labrador, and New Brunswick, which were added to the program on July 1, 2023.

How much money you get with the climate action incentive payment can range from $488 to $772 a year for individuals depending on if you live in Ontario, Alberta, Saskatchewan or Manitoba.

There are also add-ons between $122 and $386 a year for a spouse or common-law partner, children under 19 years old, and the first child in a single-parent family.

Individuals in Nova Scotia, P.E.I., Newfoundland and Labrador, and New Brunswick can get quarterly payments between $92 and $164 each year.

Then, there is also an additional $23 to $82 paid out quarterly for a spouse or common-law partner, children under 19, and the first child in a single-parent family.

People in Ontario, Alberta, Saskatchewan, Manitoba, Nova Scotia, P.E.I. and Newfoundland and Labrador will get their money on July 14 this year.

For people in New Brunswick, there won't be money going out this month, but the October payment will be a double credit that includes the payment from July.

Canada Pension Plan payment

"Payments for the Canada Pension Plan will be delivered on July 27," Trudeau said.

"If you're retired, this money is here to support you and will vary based on your previous income," he continued.

The Canada Pension Plan is a monthly taxable benefit that replaces part of your income when you retire. If you qualify, you receive the money for the rest of your life.

To qualify, you must be at least 60 years old and have made at least one valid contribution to the Canda Pension Plan.

Contributions can be either from work you did in Canada or as the result of receiving credits from a former spouse or former common-law partner.

Since payments are not automatic, you have to apply for the Canada Pension Plan before you want to start receiving it.