Canadians have been struggling with rising inflation and fighting to cope with the
rising cost of essential goods and services.
Since yesterday, Canadians eligible for the enhanced Canada Workers Benefit
(CWB) began receiving the first of three automatic advance payments without
having to apply. CWB is a refundable tax credit that tops up the incomes of
qualifying low- and modest-income workers which are more than four million
workers in Canada. CWB is indexed to inflation each year, which means it will
rise with the cost of living.
The benefit will provide up to $2,616 for eligible families and up to $1,518 for
qualifying single workers.
How it would work
Canadian workers who received the benefit in 2022 will automatically get the first
of three advance payments from the Canada Revenue Agency without having to
apply.
The second automatic payment arrives in October 2023, the third lands in
January 2024 and the final payment will come after eligible workers file their
2023 tax returns.
A single worker who earns $25,000 a year would have received a refund of about
$1,200 last year. Under the new advance payments structure, that worker will get
$200 in each of their July, October and January payments, with the final $600
being distributed after 2023 taxes are filed.
