Special Goods and Services Tax Credit Payment
Low- and modest-income families will receive a one-time special payment by early May 2020 through the Goods and Services Tax credit (GSTC). The average increase to income for those benefitting from this measure will be close to $400 for single individuals and close to $600 for couples.
There is no need to apply for this payment; it will be provided automatically to eligible individuals and families, based on taxes filed in 2019 for the 2018 base year.
Delayed Tax Filing Date
The Canada Revenue Agency is deferring the filing due date for the 2019 tax returns for individuals until June 1, 2020. Taxpayers have until September 1, 2020 to pay any 2019 income tax amounts owed without interest or penalties. If you expect to receive benefits under the GSTC or the Canada Child Benefit file as early as you can to ensure you receive the proper benefits.
For more information: https://www.canada.ca/en/services/taxes/income-tax.html
Canada Child Benefit
The Government is increasing the Canada Child Benefit (CCB) payment amounts, only for the 2019-20 benefit year, by $300 per child. Families will receive an extra $300 per child as part of their May payment.
To apply click here.
Canada Student Loans
Effective March 30, no payments will be required, and no interest will accrue on Canada Student Loans. Students don’t need to apply to receive this. Check for any updates here:
https://www.canada.ca/en/employment-social-development/corporate/notices/coronavirus.html