Will You Receive a Canada Grocery Rebate in 2024?

What is Canada Grocery Rebate?

In 2023, many Canadians got a one-time tax credit to help with their grocery costs. In an effort to combat rising grocery prices, the 2023 spring federal budget introduced the “Grocery Rebate.” As of April 2023, grocery prices went up by 9.1% compared to last year, according to Statistics Canada. The Canada Grocery Rebate, a tax credit was designed to ease rising grocery costs, benefited several Canadians.

Need more information on Canada grocery rebates, one-time tax credits, and GST/HST credits? Contact RSCPA tax accounting firms today.

Qualification Criteria:

The grocery rebate is accessible to approximately 11 million Canadians meeting specific income thresholds.

Automatic Eligibility:

The Canada Grocery Rebate didn’t require a separate application. If you filed a 2021 tax return and met the income eligibility thresholds set for the program, you would have automatically received the benefit in July 2023. It’s important to note that the rebate wasn’t available to everyone who filed a tax return – there were income limits in place.

Comparison with GST & HST Credit:

Unlike the GST/HST credit (which uses your 2022 tax return), the Canada Grocery Rebate assessed eligibility based on your 2021 tax return. This means that even if you didn’t qualify for the GST/HST credit in July 2023, you might have received the one-time grocery rebate in July 2023, provided you met the separate income thresholds for the program.

In light of these developments, seeking assistance from a reputable tax accounting firm near me can prove invaluable. Further, such professionals can provide comprehensive guidance on eligibility criteria, assist with tax return filing, and offer clarification on any queries about the grocery rebate.

The Canada grocery rebate is characterized as a one-time tax credit. Furthermore, it offers financial relief to eligible individuals amidst the country’s soaring grocery prices. For single individuals, the rebate amount varies based on the number of children:

Please note The Canada Grocery Rebate was a one-time benefit issued in July 2023 to help Canadians with rising food prices. There is currently no announcement of a similar program for 2024.

Single Individuals:

  • If you have no children, you may receive $234
  • With one child, the rebate increases to $387
  • Families with two children can expect $467
  • Those with three children qualify for $548

Married or Common-law Partners:

  • No children entail a rebate of $306.
  • Families with one child receive $387.
  • Couples with two children are entitled to $467.
  • Those with three children qualify for $548.
  • And for families with four children, the rebate amounts to $628.

If your situation isn’t listed, use an online calculator to check your eligibility accurately. As eligibility criteria and rebate amounts may vary, seeking assistance from a reputable tax accounting firm can provide invaluable guidance on navigating the process and ensuring you receive the maximum benefit from the grocery rebate.

Who is eligible for the Canadian grocery rebate in 2024?

There actually isn’t a grocery rebate program specifically for 2024 as of April 2024. The one-time measure you mentioned was the rebate implemented in July 2023. The Canadian government hasn’t decided yet whether there will be a grocery rebate program in 2024. They’ll consider public need, budget limitations, the current economic situation, and their overall policies before making a decision.

There could be a few reasons:

Income: Your income might have exceeded the eligibility threshold for the 2023 program (individuals: $32,000 or less, households: $38,000 or less).

Tax Filing: You may not have filed your 2021 income tax return by the deadline. The rebate was issued through the tax system.

Unfortunately, the grocery rebate was a one-time benefit. It won’t be included in future GST/HST credit payments. You can check the Canada Revenue Agency (CRA) website for updates on any new initiatives to help with rising grocery costs.

If you believe you qualified for the 2023 rebate but haven’t received it, contact the CRA. They can help you determine the reason and see if there’s anything you can do. Make sure your tax returns are accurate and up to date to avoid delays in future benefits.

The rebate was for low- and modest-income Canadians who filed their 2021 tax return. The specific income thresholds were:

  • Individuals: $32,000 or less
  • Households: $38,000 or less

The amount varied based on marital status and the number of children in your household. We’ve listed the specific amounts for the 2023 program below, but be aware that they might not apply to any future programs.

  • Single individuals: $234 – $628
  • Married or common-law partners: $306 – $628

There are a couple of reasons why you might not have received the rebate in 2023:

Income: Your income might have been too high.
Tax Filing: You might not have filed your taxes on time.

No, the 2023 Grocery Rebate applied to all Canadian provinces and territories. The program ensured fair assistance across the country.

RS CPA FirmWill You Receive a Canada Grocery Rebate in 2024?