The Canadian government offers a wide range of benefits to its citizens and residents. While many people are familiar with well-known programs like healthcare and employment insurance, there are numerous other benefits that often go unnoticed. These lesser-known programs can provide valuable support in various aspects of life, from education and housing to healthcare and financial assistance.
In this blog post, I’ll highlight 15 Canadian government benefits you might not know.
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18 years of age. The amount received depends on the family’s income, the number of children, and their ages. This benefit can provide a significant boost to a family’s budget, with maximum annual benefits of up to $7,787 per child under 6 and $6,570 per child aged 6 to 17 (as of 2024). The CCB also includes the Child Disability Benefit for families caring for a child with a severe and prolonged impairment in physical or mental functions.
Canada Learning Bond
The Canada Learning Bond is a government contribution to Registered Education Savings Plans (RESPs) for children from low-income families. Eligible children can receive up to $2,000 in government contributions without any personal contributions required. The bond includes an initial payment of $500 and additional payments of $100 for each year of eligibility up to age 15. This program aims to help make post-secondary education more accessible for children from lower-income households.
Working Income Tax Benefit
The Working Income Tax Benefit (now called the Canada Workers Benefit) is a refundable tax credit for low-income individuals and families who are working. This benefit aims to provide tax relief for working low-income Canadians. The amount received depends on income and family situation. This benefit can significantly boost the income of working Canadians who are struggling to make ends meet.
GST/HST Credit
The GST/HST Credit is a tax-free quarterly payment that helps individuals and families with low or modest incomes offset the Goods and Services Tax or Harmonized Sales Tax they pay. The amount received depends on income and family size. This credit is automatically calculated when you file your income tax return. This benefit helps to make the tax system fairer for low-income Canadians.
Canada Student Grant for Full-Time Students
The Canada Student Grant for Full-Time Students provides non-repayable financial assistance to eligible full-time students from low and middle-income families. The grant amount varies depending on family income and size. This grant is automatically assessed when applying for student loans. This benefit aims to make post-secondary education more accessible and reduce student debt.
Guaranteed Income Supplement
The Guaranteed Income Supplement provides additional money, on top of the Old Age Security pension, to low-income seniors living in Canada. This monthly non-taxable benefit is available to seniors aged 65 or older who meet income requirements. The amount received depends on marital status and income. This supplement plays a crucial role in helping to reduce poverty among Canada’s senior population.
Apprenticeship Incentive Grant
The Apprenticeship Incentive Grant provides financial support to registered apprentices in designated Red Seal trades. Eligible apprentices can receive up to $1,000 per year or level, for a maximum of $2,000 per person. This grant aims to encourage Canadians to pursue and complete apprenticeship programs in skilled trades. The money can be used to cover various costs associated with apprenticeship training, such as tools or living expenses.
Veterans Independence Program
The Veterans Independence Program provides funding for services such as grounds maintenance, housekeeping, and personal care to help eligible veterans remain independent in their homes. This program complements other federal, provincial, and municipal programs. The services provided are based on the veteran’s individual needs and circumstances. This benefit recognizes veterans’ service and helps them maintain their quality of life as they age.
Compassionate Care Benefits
Compassionate Care Benefits provide Employment Insurance benefits to individuals who need to take time off work to care for a gravely ill family member at risk of dying within 26 weeks. Eligible individuals can receive up to 26 weeks of benefits. This benefit can be shared among family members if needed. This program helps Canadians balance work responsibilities with caring for seriously ill loved ones.
Allowance for the Survivor
The Allowance for the Survivor is a benefit available to low-income seniors aged 60 to 64 whose spouse or common-law partner has died. This monthly payment continues until the survivor turns 65 and becomes eligible for Old Age Security. The amount received depends on the survivor’s income. This benefit helps to provide financial support during a challenging transition period for widowed individuals.
Canada Greener Homes Grant
The Canada Greener Homes Grant provides up to $5,000 to help homeowners make energy-efficient home retrofits. Eligible upgrades include improving insulation, replacing windows and doors, and installing smart thermostats. The program also offers up to $600 for pre and post-retrofit EnerGuide evaluations. This grant aims to help Canadians make their homes more energy-efficient while creating jobs and fighting climate change.
Northern Residents Deductions
The Northern Residents Deductions provide tax relief for individuals living in prescribed northern or isolated areas of Canada. These deductions include amounts for residency and travel benefits. Eligible residents can claim these deductions on their tax returns to reduce their taxable income. This benefit recognizes the higher cost of living and unique challenges faced by residents in Canada’s northern regions.
Canada Child Disability Benefit
The Canada Child Disability Benefit is a tax-free monthly payment for families who care for a child under 18 with a severe and prolonged impairment in physical or mental functions. This benefit is paid in addition to the Canada Child Benefit. The amount received depends on the family’s income and the severity of the child’s disability. This benefit aims to help families with the additional costs of caring for a child with a disability.
Canada Emergency Travel Assistance
Canada Emergency Travel Assistance supports Canadians facing unexpected emergencies while traveling abroad. This can include help during natural disasters, civil unrest, or medical emergencies. The assistance can range from providing information to coordinating evacuations in extreme cases. While not a financial benefit, this service can be invaluable for Canadians facing difficult situations while outside the country.
Home Buyers’ Plan
The Home Buyers’ Plan allows first-time home buyers to withdraw up to $35,000 from their Registered Retirement Savings Plan (RRSP) to buy or build a home. This withdrawal is tax-free as long as it’s repaid within 15 years. The program can be used by both individuals and couples, effectively doubling the amount available for a home purchase. This benefit can significantly help Canadians overcome the hurdle of saving for a down payment on their first home.
Canada Child Benefits: 18 Facts You Should Know
Canada Child Benefits: 18 Facts You Should Know
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