What’s the Canada Workers Benefit Payment? It is a program to top up eligible Canadians’ income based on certain criteria. The goal of the program is to provide eligible working Canadians who are making below their province’s net income extra money to support them. Who is eligible and how much can you get?
What’s the Canada Workers Benefit Payment? Who is Eligible?
According to the Government of Canada’s website, there area few criteria to be eligible. They are as follows:
- Earn working income and your net income is below the net income level set for your province or territory of residence
- Are a resident of Canada throughout the year
- Are 19 years of age or older on December 31, or you live with your spouse or common-law partner or your child
However, the same website states that there are certain scenarios that can disqualify you from the payment. They are as follows:
- Are enrolled as a full-time student at a designated educational institution for more than 13 weeks in the year unless, on December 31, you have an eligible dependent
- Are confined to a prison or similar institution for a period of at least 90 days during the year
- Do not have to pay tax in Canada because you are an officer or servant of another country, such as a diplomat, or you are a family member or employee of that person
Lastly, there is also a minimum income level that a person or a family have to make to qualify for this program. According to Wealth Simple, an individual or family needs to have a working income of $3000.00 or more. This can be either employment or self employment income.
Conclusion
To apply for this benefit all you need to do is fill out your tax return. If you are doing a paper return, you will need to fill out a schedule 6 form. If you are doing it electronically, just follow the instructions in your certified tax software. The maximum amount a person can receive is $1428.00. The maximum a family can receive is $2461.00. This will be paid in three payments in July, October and January. If you meet the criteria for the program and have filed your taxes, you should look into this. You just might be eligible for some extra money which is always a good thing!