CA

Canada Workers Benefit review: know your rights!

Check out the Canada Workers Benefit review, learn how it works, and how to get the refundable tax credit.

Canada Workers Benefit: refundable tax credit

Learn everything about Canada Workers Benefits. Source: The mister Finance.
Learn everything about Canada Workers Benefits. Source: The mister Finance.

Canadian government features a range of benefits for groups in vulnerable or specific situations. If you’re employed, learn how to get Canada Workers Benefit by reading this review.

Those benefits are part of welfare programs available and count on funds usually provided by taxpayers. Today, we will review the Canada Workers Benefit, also called CWB.

canada workers benefit

How to apply for the Canada Workers Benefit?

Everything you need to know about the Canada Workers Benefit in Canada.

This benefit is designed for workers who earn a low income. Also, it is a refundable tax credit.

Then, keep reading this Canada Workers Benefit review to learn how it works and how you can get it.

How does this benefit work?

Canada Workers Benefit refers to a refundable tax credit given by the Canadian government to people who are working but receiving a low income.

The benefit is divided into two parts, which follow: a basic amount and a disability supplement.

Also, the CWB can be asked the moment you file your taxes.

In addition, eligible individuals or families don’t need to wait until tax time to receive the benefit. They can get it in advance, but only half of it.

Usually, the advanced payments are sent on the fifth day of April, July, October, and January.

Furthermore, delays may happen. So, the Canadian government asks beneficiaries to wait ten working days from the expected payment date to contact the Canada Revenue Agency (CRA).

To apply for this benefit, you must be a resident of Canada throughout the year. Moreover, you must be at least 19 years old with earning a working income.

In the case of the disability supplement, you must be eligible for the Disability Tax Credit (DTC) through the Disability Tax Credit Certificate filled out by a medical practitioner.

Canada Workers Benefit highlights

Get a refundable tax credit! Source: Adobe Stock.
Get a refundable tax credit! Source: Adobe Stock.

The Canada Workers Benefit (CWB) refers to a refundable tax credit that helps individuals and families who work but receive a low income.

People with disabilities can also apply for it. And beneficiaries can receive the payments in advance according to a previous calendar shared by the Canadian government.

In addition, eligibility requirements include being at the age of majority with a working income and being a resident of Canada.     

How much to expect to receive?

It is important to address that the amount a beneficiary can receive will depend on their income and province of residency.

As mentioned above, the benefit is divided into two categories: a basic amount and a disability supplement.

The maximum basic amount is $1,395 for single individuals and $2,403 for families. In the first case, the amount is reduced as the beneficiary’s adjusted net income achieves more than $22,944.

Also, there won’t be any basic amount to be paid if the AFNI is greater than $32,244.

In the second case, the amount is reduced as the family’s net income achieves more than $26,177. And no basic amount will be paid if the AFNI is greater than $42,197.

For residents of Quebec, the maximum basic benefit will vary.

Furthermore, for the disability supplement, the benefit will be $720 for single individuals and $720 for families.

In the first case, the supplement is reduced as the net income is more than $32,244, and no benefit is paid if the adjusted net income is greater than $37,044.

On the other hand, for families, the supplement is reduced as the net income is more than $42,197. And no benefit is paid if one eligible spouse achieves more than $46,997 or both spouses achieve more than $51,797.    

How to apply for the Canada Workers Benefit?

Now, learn how to get the Canada Workers Benefit by reading our next post!

canada workers benefit

How to apply for the Canada Workers Benefit?

Everything you need to know about the Canada Workers Benefit in Canada.

About the author  /  Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by  /  Aline Barbosa

Senior Editor

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