In exciting news from the Government of Canada, a new financial relief plan, the ‘Grocery Rebate’, has been introduced. Announced as part of Budget 2023, the Rebate is all set to be rolled out on July 5, 2023, together with the next quarterly GST/HST credit payment.
What’s this Rebate about, you ask? The Grocery Rebate amount will be twice as much as the GST/HST credit amount you received in January 2023.
Who Qualifies for the Grocery Rebate?
If you got the GST/HST credit for January 2023, then you’re in luck – you’ll get the Grocery Rebate too. Just remember, you must have filed a tax return for 2021, even if you didn’t earn any income in that year.
But, do take note – it’s possible that you might be entitled to the Grocery Rebate, but not the July GST/HST credit, or vice versa. This is because the Grocery Rebate is calculated from your 2021 tax return, but the next quarterly GST/HST credit in July 2023 is based on your 2022 tax return. For more details, it’s best to check your Notice of (Re)determination.
Eligibility Check
You and, if applicable, your spouse or common-law partner, need to meet the eligibility requirements for the 2021 base year to qualify for this rebate.
How Much Will You Get?
The Grocery Rebate amount is double your GST/HST credit payment from January 2023. The exact amount depends on your family situation in January 2023 and your 2021 adjusted family net income.
Here are the max amounts you could receive:
- Single individuals could get up to $234 if they have no kids, and between $387 to $628 if they have one to four kids.
- Married or common-law partners could get up to $306 if they have no kids, and between $387 to $628 if they have one to four kids.
Calculating Your Rebate
Even if you got your GST/HST credit payment as a one-time lump sum in July 2022, you’ll still benefit from the Grocery Rebate.
Remember, any tax refunds, benefit and credit payments you get might be used to pay off any outstanding balances. You can check your benefits status by logging into your CRA My Account.
When Will You Get the Rebate?
Mark your calendars for July 5, 2023 – that’s when the Grocery Rebate will be issued. If the expected date passes and you haven’t received it, just wait 10 more business days before you contact them.
Also, do review your Notice of Redetermination for more details about your payments, including how much you’ll receive and when. If you’re signed up for My Account, you can find your Notice by clicking on the “Mail” link.
That’s the round-up of the new Grocery Rebate plan. It’s always nice to get a helping hand, especially with groceries, right?
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