Canadians could find themselves with a bit more cash on their GST rebate cheques, as part of a federal plan designed to help with rising inflation in Canada.
In an announcement on September 13, Prime Minister Justin Trudeau confirmed that there will be a GST rebate hike that will apply to eligible Canadians as of October 5, 2022.
This means Canadians can expect more money in their pockets, as the GST rebates will be doubled over the next six months.
"This will provide hundreds of dollars of support to Canadians, including half of all families and half of all seniors in the country," Trudeau said during the Liberal Caucus retreat in St. Andrews, New Brunswick.
"For example, parents with two kids could receive up to an extra $467 this fall to help with the cost of living," he added.
GST payments go out to low and modest-income Canadians quarterly and are a way to offset both the GST and HST that they pay on a regular basis. All Canadians apply for it when they file their taxes in the spring and those who qualify are automatically enrolled in the rebate program.
The next GST rebate cheque is expected to arrive on Wednesday, October 5.
And, the GST rebate jump wasn't the only change confirmed during Tuesday's announcement.
Trudeau also announced the first major step in the new national dental care program that was precipitated by the NDP-Liberal confidence and supply agreement.
The PM also outlined a new program that would help Canadians who are struggling to pay their rent.
The new supports are part of the federal affordability plan, designed to tackle Canada's high inflation rate over the last few months.
In July, Canada saw a slight decrease in its inflation rate from 8.1% to 7.6%, but it is still affecting the wallets of many Canadians.
The cost of things like gasoline, groceries and more have reached record highs this year due to uncertainties in the market and supply chain issues, brought on by the war in Ukraine, among other things.
This article's cover image was used for illustrative purposes only.
Trudeau Just Announced GST Rebate Hikes & You Could Get Hundreds Of Dollars Extra
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