The Canada Revenue Agency (CRA) will be sending out the new Advanced Canada Workers Benefit payment (ACWB) to eligible Canadians on October 12, 2023.
The Advanced Canada Workers Benefit (ACWB) is a program designed to assist eligible individuals and families with low incomes by providing financial support.
The amount of the ACWB payment depends on the amount you are eligible to receive as a Canada Workers Benefit (CWB).
If you are entitled to receive the CWB, you will get up to 50% of your CWB in advanced payments under what is referred to as the Advanced Canada Workers Benefit (ACWB) in three primary quarterly benefits payments.
You must be a resident of Canada on the first day of the quarter to be eligible for the advanced payments.
This first payment of ACWB went out on July 28 and the second one is now scheduled for October 12, with the third and final payment to be sent on January 12, 2024.
Families or individuals who qualify will typically get this payment on October 12; however, it may take up to 10 business days for the money to appear in the associated bank account with the CRA.
Who gets Canada Workers Benefit
CWB is divided into two parts:
1. Basic CWB Benefit
Single individuals can get a maximum of $1,428 annually if their adjusted net income is $23,495 or less. This amount reduces gradually as the income increases, reaching $33,015.
No CWB is paid to individuals with adjusted net income of $33,015 or higher.
Families can get a maximum of $2,461 per year if their adjusted net income is $26,805 or less. This decreases gradually as income increases, reaching $43,212. No benefit is paid to families earning $43,212 or higher.
|Canada (excluding Alberta, Quebec, and Nunavut)||Quebec||Nunavut||Alberta|
|Family with children||$43,212||$35,912.95||$58,932||$43,952|
|Family without children||$43,212||$45,060.02||$58,932||$43,952|
|Single with children||$43,212||$21,488.47||$58,932||$43,952|
|Single without children||$33,015||$29,072.64||$58,925||$33,093|
2. Disability Supplement Amount
If an individual’s adjusted net income is $33,018 or less, they are eligible to receive a maximum of $737 every year. As income rises, this sum progressively decreases as the income reaches $37,932.
Individuals with adjusted net incomes of $37,932 or more are not eligible for CWB disability payments.
If a family’s adjusted net income is $43,210 or less, they can also get up to $737 annually.
If one or both spouses are eligible for the disability tax credit and your adjusted family net income is more than $48,124, no disability supplement is paid.
If both spouses are eligible for the disability tax credit, no disability supplement is paid to families earning more than $53,037 annually.
You can use CRA’s official child and family benefit calculator to get an approximation of your advanced payments.
What are the new Advanced Canada Workers Benefit Payment Dates?
The ACWB payment dates for 2023 are as follows:
July 12, 2023
October 12, 2023
January 12, 2024
What if you don’t receive the Advanced Canada Workers Benefit (ACWB)?
Check your Canada Workers Benefit eligibility first. If eligible, contact the Canada Revenue Agency (CRA), but consider these two points:
When the issuing date is a Saturday, Sunday, or federal holiday, the payment is made on the last business day before.
The Canada Revenue Agency (CRA) advises Canadian taxpayers to sign up for direct deposit to receive benefit payments immediately in their bank accounts.
CRA provides direct deposit enrollment information at ow.ly/uhIE50PlJFc
Who gets the Canada Workers Benefit (CWB)?
You must be a tax resident of Canada and at least 19 years old by December 31, 2023 (or live with your spouse, common-law partner, or child) to be eligible for the CWB.
Additionally, your working income must be lower than the province or territory’s net income requirement.
Full-time students are disqualified unless they have a qualifying dependent, and those incarcerated for at least 90 days per year are also ineligible.
Those who have an eligible income and a valid T2201 Form (Disability Tax Credit Certificate) on file with the CRA are also eligible for the CWB disability supplement.
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