There are various tax benefits for newcomers (PR) in Canada. Moreover, you are eligible for these benefits even if you don’t have a job yet. So, what this means is that you can get monetary support from the government even without having any income.
However, do remember that this is only for your first year in Canada. After that, you no longer fall under the newcomer category. So, you will not be eligible for these tax benefits.
Furthermore, you need a social insurance number to take advantage of these benefits. Lastly, you also need to file your taxes in Canada even if you don’t have any taxable income yet.
If you are a newcomer, here is how you can get some extra dollars upon coming to Canada. Listed below are the benefits you can get as a newcomer in Canada:
Canada Child Benefit (CCB)
Firstly, all eligible people in Canada who are the primary caretakers of a child can get CCB. So, if you are raising someone below the age of 18, you can get this benefit. CCB is a tax-free monthly payment made to eligible families.
It may include child disability benefits as well as any related provincial programs. However, you need to be residing in Canada. Also, either you or your spouse/common-law partner needs to be one of the following—
- Canadian citizen
- Permanent resident
- Protected person
- A temporary resident who has lived in Canada for the previous 18 months,
- Someone who is registered or entitled to be registered under the Indian Act
You can apply either online or by mail. Also, you can apply through birth registration.
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GST/HST Tax Credit
The GST/HST credit (goods and services tax/harmonized sales tax) is a tax-free quarterly payment that helps people with low and modest income to offset the GST/HST they pay. It is very easy to get this benefit. You automatically get the credit when you file your taxes.
However, you need to be eligible. You need to fill out a form to apply. You can do this online through my account. Once you’ve done that, the money will automatically be deposited into your bank account.
Provincial and Territorial benefits and credits
You are eligible for some other credits and benefits depending on the province/territory you live in. Each province has its different benefits. For example, in Ontario, you get the Ontario Trillium Benefit. In B.C, there is a B.C. Child Opportunity Benefit. The benefits depend on the province’s eligibility and requirement.
But, you don’t need to apply for any of these. You are automatically enrolled in them when you file your federal taxes. Also, if you apply for the Canada Child Benefit, you get these benefits automatically.
So, if you are a newcomer to Canada, don’t forget to take advantage of these benefits.
Shanvi Kaur is a content writer at Immigration News Canada. She moved to Canada as an immigrant and now focuses on bringing the latest news to immigrants to make their journey easier in Canada!