Beginning a new life in another country is an experience in itself, if not a dream, for many. When one looks at options for immigration, plenty of countries come to mind. Of these, Canada is perhaps one of the most viable choices. With a number of immigration pathways and a community that is more than welcoming to newcomers, Canada is a haven that anyone would hope to make their abode.
It helps to remember, however, that moving to a new country is no easy feat. There are some tangible changes, such as having to find a job, space for living, new schools for children, and so on. The more intangible changes, such as adapting to a new culture and climate, are, perhaps, less obvious but more impactful.
In order to ease the settlement process for new immigrants, the government of Canada has launched a number of schemes. The most salient among these are:
As busy parents trying to make ends meet, this is one of the best forms of assistance one can take advantage of. Families, with children under age 6, can earn up to $6,496 per child. For children between 6 and 17 years of age, the amount is $5,481 per child.
The payments are made directly to the claimants every month and are tax-free. Keep in mind, however, that the plan is aimed towards low and middle-income families. The higher the household income, the smaller the benefits credit, as is fair. To determine the amount that will be available to you, use this calculator.
Working Income Tax Benefit
Are you an individual on a minimum wage or low income working to support yourself (and your family)? You may be eligible for the Working Income Tax Benefit (WTB) if your spouse or you are 19 years of age and older, a resident of Canada and have a working income of over $3000 a year.
The WTB can be claimed by completing the Schedule 6 of CRA’s Working Income Tax Benefit form. International students, foreign diplomats/ agents and prisoners do not qualify for this benefit.
GST/ HST Tax Credit
The Goods and Services Tax (GST) and Harmonized Sales Tax (HST) are levied on products, services and other expenditure incurred by consumers in Canada. Canadian residents, who are older than 19, and, who have/ have had a spouse or children are entitled to this credit.
The relief amount may also include provincial disbursements, such as Ontario Trillium Benefits (OTB), as applicable. The credit amount is directly paid out to your bank account and can be tracked via the CRA Website.
Individuals with a disability or their caregivers are qualified to receive this tax-free benefit which can range from $2,730 to $8,113. Again, the amount varies with the net income of the family that has disabled children. Concerned persons are required to fill out the T2201 form and keep their personal information updated in their CRA accounts.
For more information on the benefits available to immigrants and assistance with immigration concerns, contact the law office of Ronen Kurzfeld.