Every dollar counts!
Raising children, working at minimum wage, living with disabilities, or just keeping up with the bills is not always easy. There are many benefits and credits available to help you. Here are some examples of what you may be eligible for.
Canada child benefit
As a parent, especially a single parent, you know how expenses can add up. The Canada child benefit (CCB) helps with the cost of raising children. Over one year, families can get up to $6,997 for each child under 6 and up to $5,903 for each child aged 6 to 17.
Pssst... this is tax-free money.
Sarah is a mother of a two year old, and an eight month old. She heard about the benefit through her cousin, who had received it. As a result, Sarah applied for the benefit when her first son was born. The CCB helps her set aside money for her children’s education and helps with the cost of swimming and music lessons for them as well.
Canada workers benefit
If you are working hard but struggling to make ends meet, the Canada workers benefit (CWB) might be able to help. The CWB provides a financial boost to individuals and families who are in the workforce and earning a low income. You could also be eligible to get up to half of your CWB in advance payments.
Leslie found out about the CWB while doing his taxes. He works in theatre and also works at sports ticket counters to supplement his income. Unfortunately, because of COVID-19, his income reduced significantly with theatres and sporting venues being closed. The benefit allowed him to continue working without worrying about how he would cover certain expenses with his reduced income. For Leslie, the CWB meant he didn’t have to rely upon others to pay his bills.
Goods and services tax / harmonized sales tax (GST/HST) credit
Dealing with the rising cost of living can be stressful, especially if you are on a tight budget. The GST/HST credit is a tax-free amount paid four times every year and could help you get back some of the GST/HST you paid. Over one year, single individuals can get up to $467 and a couple with two children can receive up to $934.
Jamal heard about the GST/HST credit from a tax service representative. The credit helps him catch up on outstanding bills.
Disability tax credit
If you or an eligible family member has a disability, you may have expenses that others don’t. The disability tax credit (DTC) is a non-refundable tax credit that can offer some relief by lowering the amount of income tax you may have to pay. Being eligible for this credit can also open doors to access other federal, provincial, or territorial benefits and credits. An eligible individual or a supporting person may be able to claim the disability amount of up to $8,662. There is an additional amount of up to $5,053 for an eligible dependant who is under 18.
Kristin was born with osteogenesis imperfecta, which causes her bones to break easily. She has broken close to 100 bones in her lifetime. She has also been diagnosed with scoliosis and bilateral hearing loss. Kristin learned about the DTC from her family and the disability community. Since Kristin needs modifications to her home, vehicle, and wheelchair to live well as a person with a disability, the DTC helps her offset some of these costs.
Doing your taxes
Know what documents you need, learn the many ways to do your taxes and find links to certified tax software as well as other useful tools. Get ready to do your taxes.
Get your taxes done at a free tax clinic
If you have a modest income and a simple tax situation, you may be able to get your taxes done by a volunteer at a free tax clinic.
Anna found out about free tax clinics when she picked up a flyer at a local community centre (and she still has that flyer today!). She was intimidated by doing her taxes and found it hard to pay for someone else to do them for her. Thanks to the free tax clinic, Anna knew her taxes were done, it gave her peace of mind and she got the benefits and credits she qualified for.
Find out what else you could qualify for
Use the Benefit Finder tool.
Learn about your taxes
Use the new online learning tool to learn about taxes and how to do your taxes on your own.
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