Grocery Rebate Payments: When and Who is getting Grocery Rebate Payment in 2024?

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Grocery Rebate Payments

The Canadian government launched the Grocery Rebate Payment program as a way to make up for the higher grocery prices that residents of Canada are now paying as a result of inflation. It helped 11 million eligible Canadians receive inflation relief when it was announced along with the Budget 2023.

Families with low to moderate incomes in Canada will be eligible for the rebate, according to the government. The Canada Revenue Agency (CRA) is handling the delivery of the check or direct deposit. Since the government has stated that it will only be made once, it will be paid once a year.

So, if you are a Canadian who is finding it difficult to cope with the ever-increasing food inflation rates, then stay with us on this article. This scheme is something that might benefit you in the future and provide you with a Grocery Rebate payment in 2024, along with your GST/HST credit.

What is the Grocery Rebate Plan

The Food Price Report 2023 for Canada predicted that in the near future, grocery prices could rise by as much as 7%. This implies that the annual food expenditure for a four-person Canadian family will exceed $15,000. The government created the Grocery Rebate plan in the summer of 2023 because this increase would greatly impact low-income Canadian families.

The federal government offers a one-time payment known as the Grocery Rebate to assist Canadians with lower incomes who are struggling to keep up with rising food prices. The plan is intended to assist those who are “hardest hit by rising food prices,” according to Canadian Prime Minister Justin Trudeau. Logging into your CRA account is necessary to verify if the rebate amount has been credited to your account.

Grocery Rebate Payments Date

Grocery Rebate Payment Amount

Your February 2024 financial status and your 2022 adjusted family net income will determine the payment amount for 2024. It will also consider whether or not you are married and whether you have children.

The rebate is set up to offer the following typically:

• For couples with no kids: $306
• For couples and individuals with one kid: $387
• For couples and individuals with two kids: $467
• For couples and individuals with three kids: $548
• For couples and individuals with four kids: $628
• Individuals with no kids: $234
• For seniors: $255

It is significant to note that if your net income on your tax return exceeds $39,826, you will receive a reduction in payments. In general, the Grocery Rebate amount will double the amount of your February 2023 GST/HST credit.

Grocery Rebate Payment Eligibility

Just like any other government scheme, Grocery Rebate payment is also guarded by some eligible requirements. So that the benefits are received only by the eligible and needful people of the nation.

Here, we have listed some important eligibility requirements.

• If, for income tax purposes, you are a resident of Canada, you are qualified for this credit.
• Canadians who make $38,000 or less per year as a household or $32,000 or less as an individual are eligible for the grocery rebate.
• You must file a tax return in order to be eligible for the Grocery Rebate, as it is dependent on your tax return.
• Those who are eligible for the GST/HST credit in February 2024 will receive the Grocery Rebate.

Once you are under this criterion, the CRA will automatically assess your eligibility and deliver your benefit amount to your account. The payment will be made in a similar manner as your GST/HST credit.

Grocery Rebate Payment in 2024?

The following regularly scheduled GST/HST credit payment, which is scheduled for next year, will include the Grocery Rebate. Families and Canadians with low to modest incomes will be eligible for this additional payment. In 2023, the Grocery rebate was paid on July 5, and hence, we expect a similar date for payment in 2024.

The Grocery Rebate can be obtained without completing an application. The one-time payment will be made automatically to eligible recipients if their 2022 income tax and benefit return has been filed. This is anticipated because, in 2023, the rebate was made on the basis of 2021 returns.

We would like to extend our heartfelt thanks to all the readers of this article on Canadian grocery rebate policy for visiting our portal. Please keep returning and giving us the opportunity to serve you.

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