Food inflation has been steadily increasing, with grocery prices expected to rise by 7% this year. A family of four may spend around $15,000 annually on groceries, making it difficult for low-income households to make ends meet.
Prime Minister Justin Trudeau has introduced the Grocery Rebate Bill (C-46) to support Canadians affected by high food prices. This initiative aims to combat poverty and help families afford basic necessities.
The Grocery Rebate is a one-time payment designed to help Canadians buy essential items. The amount depends on the previous year's tax returns, with payments managed by state authorities.
Food consumer prices are expected to rise by 4% in the coming months. Last year, grocery prices saw significant increases: cereals by 13.6%, bread by 15%, and fats and oils by 20%.
To qualify for the grocery rebate, applicants must meet specific criteria: automatic eligibility for CRA benefits, a valid national insurance number, and a net income below $45,000 for singles or $65,853 for households.
The rebate amounts vary by category, ranging from $234 for individuals to $628 for families with four children. Retired couples and parents under shared custody also receive specific amounts.
Payments are expected to be released by the end of July 2024. Eligible candidates should register by July 5th to ensure they receive their rebate. Update your details in "My Account" if there are any changes.
Besides the Grocery Rebate, Canadians can look forward to other rebates like the Carbon Tax Rebate, GST/HST Rebate, and Quebec Sales Tax Rebate in the coming months.