(Please see the beginning of the article in our previous posts).
Climate action incentive payment
The Climate action incentive payment (CAIP) is a tax-free amount paid to help individuals and families offset the cost of the federal pollution pricing. You may be eligible for the CAIP if you are a resident of Alberta, Saskatchewan, Manitoba, or Ontario.
To get the CAIP, you and your spouse or common-law partner (if applicable) must each file an income tax and benefit return for the year and be an eligible individual. The CRA will automatically determine your eligibility when you file your return. If you have a spouse or common-law partner, only one of you can get the CAIP for the family. The CAIP will be paid to the spouse or common-law partner whose return is assessed first. No matter which one of you receives the CAIP, the amount will be the same.
If you are eligible to receive the CAIP, we recommend that you and your spouse or common-law partner (if applicable) file your 2022 returns electronically by March 10, 2023, to help in receiving the April 14, 2023, issuance. If you don’t receive the April issuance, the payment will be included in a subsequent payment after your return is assessed.
The CAIP also includes a supplement for residents of small and rural communities.
This year, you may also be eligible for the CAIP if you are a resident of Newfoundland and Labrador, Nova Scotia, or Prince Edward Island. The same eligibility rules and filing requirements mentioned above will apply. You will not be eligible for the April 2023 payment because the federal fuel charge will only apply to these provinces as of July 1, 2023. If you are eligible, you will automatically receive your first payment in July 2023.
Canada Dental Benefit
Applications for the new interim Canada Dental Benefit opened on December 1, 2022, for eligible families with an adjusted family net income of less than $90,000 in 2021. It provides financial support for parents and guardians of children under 12 years old if they receive dental care services and do not have access to a private dental insurance plan. Children already covered under another government dental program may also be eligible if the dental costs are not fully paid by that program.
Parents and guardians can apply for a maximum of two payments for each eligible child.
One-time top-up to the Canada Housing Benefit
The government introduced a tax-free one-time $500 payment to help lower-income renters facing housing affordability challenges. As of December 12, 2022, this benefit is available to renters who, among other eligibility criteria:
- have an adjusted family net income for 2021 of $35,000 or less for families, or $20,000 or less for individuals
- paid at least 30 per cent of their 2021 adjusted family net income on eligible rent for any of their principal residence(s) in Canada in the 2022 calendar year
Applications are open until March 31, 2023. To obtain the one-time payment, you need to have filed your 2021 tax return.
Please note: My Account is the quickest, easiest and most secure way to apply for the new Canada Dental Benefit and one-time top-up to the Canada Housing Benefit. You should also register for direct deposit. By registering for direct deposit, your money will be deposited directly into your account at a financial institution.
Please see our next posts to continue reading the article.
The original article can be found here
*The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions, a further review should be done by a qualified professional.
No individual or organization involved in either the preparation or distribution of this text accepts any contractual, tortious, or any other form of liability for its contents.
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