Minister Patty Hajdu Highlights Tax Break for All Canadians and New Working Canadians Benefit
November 22, 2024
Ottawa, ON – Today, the Honourable Patty Hajdu, Minister of Health, and the Honourable Chrystia Freeland, Minister of Finance, announced a new tax break for all Canadians and a new Working Canadians Benefit to help make life more affordable.
Tax Break for All Canadians
The tax break will provide a one-time payment of $500 to all Canadians who file their taxes in 2024. This payment will be available to individuals who earn less than $120,000 per year.
“This tax break will provide much-needed relief to Canadians who are struggling to make ends meet,” said Minister Hajdu. “We know that Canadians are facing rising costs, and this payment will help them offset some of those costs.”
Working Canadians Benefit
The Working Canadians Benefit is a new tax-free benefit that will provide up to $2,500 per year to low- and middle-income working Canadians. The benefit will be available to individuals who earn less than $50,000 per year.
“The Working Canadians Benefit will help to make it easier for Canadians to get ahead,” said Minister Freeland. “This benefit will provide a boost to their income, helping them to pay for things like rent, groceries, and childcare.”
Eligibility
To be eligible for the tax break, Canadians must file their taxes in 2024. To be eligible for the Working Canadians Benefit, Canadians must meet the following criteria:
- Be a Canadian resident
- Be at least 19 years of age
- Have earned income from employment or self-employment
- Have a net income of less than $50,000 per year
Application Process
Canadians do not need to apply for the tax break or the Working Canadians Benefit. The payments will be automatically issued through the Canada Revenue Agency (CRA).
Benefits
The tax break and the Working Canadians Benefit will provide important financial assistance to Canadians who are struggling to make ends meet. These measures will help to reduce poverty, increase incomes, and make life more affordable for Canadians.
“These measures are part of our government’s commitment to making life more affordable for Canadians,” said Prime Minister Justin Trudeau. “We know that Canadians are working hard, and we want to help them succeed.”
For more information on the tax break and the Working Canadians Benefit, please visit the CRA website at www.canada.ca/cra.
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