Ottawa intends to extend the doubling of the GST tax credit for another six months to help families cope with the rising cost of living, according to information from TVA Nouvelles.
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The measure, which took effect in the fall during Minister Chrystia Freeland’s economic update, will be introduced in the 2023 budget as a “grocery rebate.”
This tax credit would allow a family of four to receive $467. For single people, the amount is $234 and for seniors, $225.
If the terms remain the same as when the measure was unveiled in the fall, the payments are collected through a single payment and it would not be necessary to make a request to the government.
At the time, the government claimed that the measure would affect some 11 million Canadians. It would cost the public treasury $2 billion.
Chrystia Freeland’s 2023 budget will be presented on Tuesday.
According to Statistics Canada, food prices continued their steep rise at the start of the year, with a 10.6% increase in February compared to the previous year.