It’s July! It’s the month when Canada celebrates its independence and it’s also the month when Canadians receive their first payment for all benefits. This happens every year but this year it will seriously be raining money.
Enhanced UCCB- Extra cash for your child’s summer: The Universal Child Care Benefit has increased from $100 to $160 for each child under 6 years of age and from $0 to 6 for children above 6 years of age effective Jan 2015. Therefore a lump sum payment of $420 per child will be given out on 20th July. The UCCB as the name suggests is universal in nature and every Canadian Resident with Children is eligible for the benefit irrespective of their income. So every family with children gets $420 per child in July. Now that’s called raining money!
A lot of families that otherwise do not qualify for Child Tax Benefit and have children above 6 years of age may need to apply for this benefit. If you have not filed your 2014 taxes or want to apply for the UCCB benefit, rush to your near Softron location and we will be happy to help.
GST/HST Credit- Time for shopping allowance: The first of four payments will be given out on July 5th for GST/HST credit. It’s time that you get back a little tax money on all that you have spent during the past year. Please ensure that you have filed your taxes as this benefit would be available if the taxes have not been filed for 2014 tax year.
Ontario Trillium Benefit- When the rent pays you back: The monthly payments of OTB will start on 10th July, 2015 and you will be receiving the money if you have filed your taxes and claimed your rent while doing your taxes. If an individual is single and did not have any rent to claim, he may be getting a lump sum payment of $287 in July as the Sales Credit.
So all in all, the month of July is going to be great as we enjoy the money and celebrate our independence. So if you have not filed your taxes or need to apply for the UCCB, do visit one of office locations and we will be happy to help!! Happy Canada Day!!!