Plenty of cash could be on your way, some might have already arrived

July is a month that a number of government payments will help top up Airdronian's bank accounts. 

The different payments include the goods and services tax/harmonized sales tax (GST/HST) credit, the Canada Carbon Rebate, the Canada Child Benefit (CCB), and the Advanced Canada worker's benefit payment date.

The first was the GST/HST credit today. Those who qualify get quarterly payments.

Here is how much you could receive after all four payments:

• $519 if you are single
• $680 if you are married or have a common-law partner
• $179 for each child under the age of 19

It is designed to assist Canadians with low to modest incomes in reducing their tax burden. Application is not required, as individuals are automatically considered for this credit when filing their taxes.

On July 12, qualified residents could receive Canada's worker's benefits. The Canada Revenue Agency decides if you qualify for this benefit.

The maximum basic amount for a single individual is $1,518 while it's $2,616 for families. Some of the criteria they look at include marital status, province or territory of residence, earned working income, adjusted family net income, eligible dependents and eligibility for the disability tax credit.

The Canada Carbon Rebate will arrive on July 15, formally known as the Climate Action Incentive Payment. According to the Government of Canada, the rebate takes fuel charge proceeds and returns it to Canadians through direct deposit or cheque three times a year. This ensures most households get money back, with lower-income households benefiting the most. Each year when you file your taxes you apply for the rebate automatically. 

Since 2019, the pollution pricing program and the corresponding rebate system have been operational. This initiative imposes a fee on greenhouse gas emissions, increasing the cost of burning fossil fuels, as well as motivating Canadians to alter their behaviours.

Here is how much you could expect in your pocket if you qualify:

• $225 for an individual
• $112.50 for a spouse or common-law partner
• $56.25 per child under 18

Families residing in rural and small communities could qualify for an additional 20 per cent.

One of the final payments of the month, July 19, is the Canada child benefit. At the beginning of this month, the Canada Revenue Agency reset its benefit calendar for most payments, including the Canada Child Benefit (CCB). This means some Airdrie parents may see their payments increase by several hundred dollars.

On July 1, the CCB (base benefit, for a child under age six) increased to $7,787, compared with $7,437 in 2023. The CCB (base benefit, children aged six to 17) is also increasing to $6,570, compared with $6,275 in 2023. 

To see if you qualify for the CCB, click HERE.

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