November 21, 2024 – Working Canadians Rebate
Canadian Government announces a new $250 Working Canadians Rebate to 18.7 million Canadians in early spring 2025.
Eligible for the tax-free $250 rebate are all Canadians who worked in 2023, earned up to $150,000 individual net income, and meet the following requirements:
- Filed their 2023 tax return by December 31, 2024, and:
- claimed the tax credit for Canada Pension Plan or Quebec Pension Plan contributions on employment or self-employment earnings;
- claimed the tax credit for Employment Insurance (EI) or Quebec Parental Insurance Plan (QPIP) premiums on employment or self-employment earnings; or,
- reported income from EI or QPIP benefits;
- Are a resident of Canada on March 31, 2025;
- Are not incarcerated for a period of at least 90 days immediately prior to April 1, 2025; and,
- Are not deceased on April 1, 2025.
November 21, 2024 – GST/HST temporary holiday on certain taxable goods.
Canadian Government announces that the GST/HST be fully and temporarily relieved on holiday essentials, like groceries, restaurant meals, drinks, snacks, children’s clothing, and gifts, from December 14, 2024, to February 15, 2025.
October 29, 2024 – Ontario Economic Rebate cheque
As part of the upcoming 2024 Ontario Economic Outlook and Fiscal Review, the government is supporting Ontario families struggling with the high costs of the federal carbon tax and interest rates by proposing to provide a $200 taxpayer rebate to all eligible Ontario taxpayers. To ensure families with children are not overlooked, the government is also proposing to provide families with an additional $200 for each eligible child.
https://news.ontario.ca/en/release/1005241/ontario-providing-taxpayers-with-200-rebate
October 1, 2024 – Small Business Carbon Rebate
Canada Carbon Rebate for Small Businesses. This refundable tax credit will return a portion of the fuel charge proceeds from 2019-20 through 2023-24 to small businesses, in jurisdictions where the federal fuel charge applies.
Eligible businesses that filed their 2023 tax return by July 15, 2024, will receive their payment by:
- December 16, 2024, if registered for direct deposit from the Canada Revenue Agency; or,
- December 31, 2024, if receiving payment by cheque.
The Canada Carbon Rebate for Small Businesses will deliver payments to small businesses in Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador.
October 1, 2024 – Minimum wage increase in Ontario
https://www.ontario.ca/document/your-guide-employment-standards-act-0/minimum-wage
Ontario raised minimum wage on October 1st as follows:
General Minimum Wage
$17.20 (up $0.65 from $16.55)
Student Minimum Wage
$16.20 (up $0.60 from $15.60)
This is in effect till September 30, 2025.
Other provinces also had increases to minimum wage on October 1, 2024:
Manitoba $15.80 from $15.30
https://www.gov.mb.ca/labour/standards/doc,minimum-wage,factsheet.html
Prince Edward Island $16.00 from $15.40
https://www.princeedwardisland.ca/en/news/two-minimum-wage-increases-expected-in-2024
Saskatchewan $15.00 from $14.00
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