Canadians Get Cash Boost & New Benefit

0:00Millions of Canadians are set to get a one-time cash boost on June 5th. It's a 50% top-up to their GST over HST credit for the 2025-2026 benefit year. This comes as the feds roll out the new Canada groceries and essentials benefit, kicking in comes July to tackle skyrocketing food and household bills. The payment hits bank accounts just like regular GST credits, no extra paperwork needed. You're eligible if you and your spouse filed your 2024 taxes and qualify for the credit in January 2026. Amounts depend on income and family size, a single person might see around 267 bucks while a family of four could pocket five. 133? Food prices have been climbing faster than general inflation since 2020, hitting the average household with an extra $7.82 dollars a year. Folks are filling that squeeze at the checkout and this top-up aims to ease the pain right now for those hurting most.

1:00Come July 3rd, the old GST credit rebrands to the new benefit with the same rules but quarterly payments bumped up 25% for the next. Five years, those starting payments will pull from your 2025 tax info. Over 12 million Canadians stand again from this one-two punch of the immediate top-up and ongoing support, helping keep essentials affordable as costs keep rising. Local news, powered by AI. This is Calgary News today. I'm Cory with the story.