Thursday, July 9, 2026 Every July, a wave of federal benefit payments resets for the new benefit year — and 2026 brings one of the biggest shifts in years. Between a permanent 25% boost to the old GST/HST credit, a fresh Canada Child Benefit increase, and the largest quarterly OAS bump of the year, millions of Canadian households will see different numbers land in their accounts this month. Here's what actually changed, and what to check in your own CRA account. The GST/HST Credit Has a New Name — and a Bigger Payout The GST/HST credit has officially been replaced by the Canada Groceries and Essentials Benefit (CGEB) . It's not a new program from scratch — it runs on the same CRA infrastructure and eligibility rules — but the payment amounts are 25% higher, and that increase is locked in for five years. The first CGEB payment went out on July 3, 2026. Under the new structure: A single individual with no children can receive up to roughly $679 per year (about $170 per quart...
Whether your child is a newborn, working a part-time job, or considering applying to university, there are essential benefits and credits that parents should be aware of as tax season approaches. As a parent, understanding these opportunities can significantly impact your financial well-being. Let’s explore some key points:
1. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment administered by the Canada Revenue Agency (CRA). It aims to assist eligible parents with the cost of raising children. Here’s what you need to know:
- Maximum Benefit: For children under six, the maximum annual benefit is $7,437 ($619.75 per month). For children aged six to 17, it’s $6,275 ($522.91 per month).
- Sign Up: Remember to sign up and apply for the CCB promptly, as there’s no retroactive payment. It begins once you’ve enrolled.
2. Childcare Expenses
Childcare costs can be substantial, but parents can claim certain expenses on their annual tax return. Here’s how it works:
- General Amount: Parents can claim up to $8,000 for children under seven and $5,000 per child aged seven to 16.
- Additional Amounts: Children with disabilities may qualify for additional amounts.
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