Minister Gould and Minister Tassi Highlight Government’s Tax Break for All Canadians and New Working Canadians Benefit
November 22, 2024
Ottawa, ON – Today, the Minister of Families, Children and Social Development, Karina Gould, and the Minister of National Revenue, Diane Lebouthillier, announced a new tax break and Working Canadians Benefit to help make life more affordable for all Canadians.
Tax Break for All Canadians
The tax break will provide a one-time payment of $500 to all Canadians over the age of 18. This payment will help offset the increased cost of living and make it easier for Canadians to make ends meet.
Eligibility:* All Canadian citizens and permanent residents over the age of 18 who filed a 2022 tax return are eligible for the tax break.
Payment Amount:* $500 lump sum
When to Expect the Payment:* The payment will be delivered via direct deposit in early 2025 for those who have filed their 2022 taxes. For those who have not yet filed, the payment will be issued once their taxes have been processed.
Working Canadians Benefit
The Working Canadians Benefit is a new tax credit that will provide up to $2,500 to low- and middle-income working Canadians. This credit will help workers keep more of their hard-earned money and reduce the cost of raising a family.
Eligibility:* – Working Canadians with an annual income of less than $35,000. – Individuals must have worked at least 120 hours in the previous year. – Individuals who receive the Canada Workers Benefit are not eligible for the Working Canadians Benefit.
Maximum Benefit:* $2,500
How to Apply:* Individuals can apply for the Working Canadians Benefit through their annual tax return.
Benefits for Canadians
These measures will provide significant benefits to Canadians, including:
- Reducing the cost of living
- Helping workers keep more of their hard-earned money
- Making it easier for families to make ends meet
Quotes
“These measures will make a real difference in the lives of all Canadians,” said Minister Gould. “We are committed to helping Canadians make ends meet and achieve financial security.”
“The Working Canadians Benefit will provide much-needed support to low- and middle-income workers,” said Minister Lebouthillier. “We are proud to introduce this new credit to help workers keep more of their hard-earned money.”
Additional Information
For more information on the tax break and Working Canadians Benefit, please visit the Canada Revenue Agency website.
Contact Information
Media Relations Employment and Social Development Canada 819-994-2899 media@hrsdc-rhdcc.gc.ca
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