Feds’ promised one-time affordability benefit coming June 5

The federal Liberals’ one-time payment that aims to help families struggling with the high cost of living will land on June 5.

Prime Minister Mark Carney announced in January that Ottawa would issue a direct payment worth 50% of the full-year value of the government’s existing GST/HST credit, which will now be called the Canada Groceries and Essentials Benefit.

That program offers support to lower-income households, and any eligible family which has filed its 2024 tax return and already receives the quarterly tax credit will get the one-time “top-up” automatically.

Ottawa says a family of four with a net income of $40,000 would receive $533 in June, while a single person earning $25,000 annually would get half that amount.

Regular quarterly payments of the credit will also increase by 25% for five years starting in July.

Taken together, the federal government says a family of four could get up to $1,890 this year and a single person could get up to $950 through the increased benefit.

The Canadian Press

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