Newcomer's Benefits in Canada

While relocating to a new country can be challenging, the Canadian government does provide some benefits to newcomers. The government wants to make your transition to a new life in Canada as easy as possible, whether you have an income or not.

We'll look over four significant government benefits and see if you qualify for them.

Eligible Benefits For A Newcomer In Canada

When you immigrate to Canada, you are eligible for several benefits as a newcomer. You can access these benefits as soon as you arrive, whether or not you have an income. You must have gotten your social insurance number before applying for these benefits.

You could be eligible for the following benefits:

Disability Tax Benefit (DTC)

The Disability Tax Benefit is a non-refundable tax credit that can assist you in decreasing the amount of tax you have to pay each year if you have a disability. The DTC might also help the person who is supporting you. You can apply for the disability amount once approved for the DTC.

The sole purpose of this benefit is to provide some relief to people who are disabled and incur additional costs as a result of their condition. If you qualify for the DTC, you could also be eligible for other provincial, territorial, or federal benefits. registered disability savings plan.

You can claim a non-refundable tax credit of $8,235. Under 18 years, you can claim a $4,804 non-refundable tax credit.

Eligibility

A medical practitioner must certify that you have a severe and long-term impairment to be eligible for the DTC. The medical practitioner fills out Form T2201 with that information or the new digital application for medical practitioners

If you have a marked restriction, the following conditions will make you eligible for DTC. You have a marked restriction if, even after receiving medication, treatment, and devices, you still have difficulty performing functions due to these impairments.

• Feeding
• Walking
• Hearing
• Vision
• Mental functions that are necessary for everyday activities
• Having life-threatening therapy

You complete part one of Form T2201 as the individual with a disability, and the medical practitioner completes part two. The Canadian Revenue Agency (CRA) will review your application and determine whether you are eligible for the DTC in about 3-6 months.

Canada Workers Benefit

The Canada Workers Benefit (CWB) is a non-refundable tax credit designed to assist working families with limited resources. When you file your tax returns, you will be entitled to claim the CWB.

If you are eligible for the CWB, you can obtain your payments in advance rather than waiting until tax season. The CWB has two sections: the basic amount and the disability supplement.

Eligibility:

• If you fit into one of the following categories, you could be eligible for CWB:
• You are at least 19 years old and live with your spouse, child, or common-law partner.
• You get compensated for your work, such as net earnings from a business, salary, wages, bonuses, or commissions.
• You will be residing in Canada for at least one full year.

If you're not eligible for CWB, it's because:

• You are confined to a prison or similar institution for at least 90 days during the year. -Because you are a servant or officer of another country, such as a diplomat, you are exempt from paying tax in Canada. -You are a full-time student in a designated educational institution for 13 weeks or more each year. -There are two ways to apply for the Canadian Workers Benefit: -Fill out and submit Schedule 6, Canadian workers benefit if you fill it out by hand. -Follow the directions in your certified tax software when filing your taxes electronically.

It's worth noting that the quantity of CWB benefits you'll get will depend on your resident territory or province and your income. You can expect $2,403 for families or $ 1,395 for individuals.You can also use a calculation sheet or a Child and family benefits calculator to figure up your expected CWB.

Canada Child Benefit

The Canada Child Benefit (CCB), administered by the Canada Revenue Agency (CRA), aims to help offset some of the costs of raising a child.

Eligibility:

• You must meet the following criteria to be eligible for the CCB.
• You must be caring for a child under 18 who lives with you in your home.

The amount of benefit you receive depends on how many children you have, their ages, your marital status, and your adjusted family net income from the previous year's tax return.

The CCB runs from June to July and is accessible to all Canadian residents. You can expect to receive $569.41 per month for children under six years and $480.41 per month for children aged six to eighteen. But only if your family's income is $32,028.

Visit Canada’s Benefits website to see how much you might be eligible for in benefits.

Goods and Services Tax/ Harmonized tax sales (GST/HST) Credit

The GST/HST is a tax-free quarterly payment that helps low-income families and individuals offset the tax they spend on goods and services and the harmonized sales tax.

Eligibility:

When you are considered a Canadian resident for income tax purposes at the beginning of the month or the month before the CRA makes a payment, you become eligible. Make sure you also meet the following criteria:

• You have(had) a common-law or a spouse.
• At the very least, you are 19 years old.
• You are (were) a parent, or you currently live (lived) with your child.

If you have shared custody of your child, you will be eligible for a half GST/HST credit.

Even if you have no income, you must file your tax returns each year to earn the GST/HST credit. However, for newcomers, you must fill out a form to apply for the credit.

The following are the steps to take.

1. Choose one form to fill out below.
2. Fill out and sign Form RC66, Canada Child Benefits Application, if you have children.
3. Fill complete and sign Form RC151, GST/HST Credit Application for Individuals Who Become Residents of Canada if you are not a parent. 4 . Complete the form and send it to the tax centre

Conclusion

Immigrating to Canada does not have to be difficult now that you have seen the benefits. Allow for a smooth transition as you apply for those benefits.

RemitBee will significantly assist you in Canada if you need to exchange currencies or transfer money to any country globally.