Highlights: Avail tax credits and benefits as a Newcomer in Canada
- Canada offers plenty of tax benefits and credits to individuals migrating to the country.
- The Newcomer status under CRA (Canada Revenue Agency) is valid for the first year of residence.
- Newcomers, their common-law partners, or spouses must be Canadian residents for income taxes.
- Newcomers need not do their first tax return in order to avail the benefits offered by the country in the first year of residence.
*Looking to work in Canada? Avail Y-Axis Job Search Services for complete job support.
Canada Revenue Agency (CRA)
Candidates' newcomer status under the CRA is valid for the first year of residence in Canada. The credits and benefits offered by the CRA provide financial aid and support to newcomers. The newcomers, their common-law partners, or their spouses must be Canadian residents to avail of tax benefits.
You can follow the steps given below to receive payments:
Step 1: Acquire a Social Insurance Number (SIN)
A Social Insurance Number (SIN) is a 9-digit number unique and personal to each individual. It authorizes individuals to work and get paid while accessing government benefits and programs. Candidates can apply in person or online at the Service Canada Center.
Step 2: Apply for the eligible credits
Newcomers need not pay their first tax return before they can avail of credits and benefits in the first year of residence.
GST/HST credit:
The GST/HST credit offers concessions to the taxes newcomers pay on their purchases.
Canada Child Benefit (CCB):
Individuals with at least one child under 18 can apply for a tax-free monthly payment.
*Want to migrate to Canada? Sign up with Y-Axis for complete immigration assistance.
Breakdown of Provincial Credits
The territories and provinces of Canada offer benefits and advantages that most newcomers can avail.
Given below is the list of complete details of the province-wise benefits:
|
Province |
Benefits |
|
Alberta |
Alberta child and family benefit |
|
British Columbia |
BC family benefit, BC climate action tax credit |
|
New Brunswick |
New Brunswick child tax benefit (NBCTB), New Brunswick harmonized sales tax credit (NBHSTC) |
|
Newfoundland and Labrador |
Newfoundland and Labrador child benefit (and Early childhood nutrition supplement), Newfoundland and Labrador income supplement, Newfoundland and Labrador disability amount, Newfoundland and Labrador seniors’ benefit |
|
Northwest Territories |
Northwest Territories child benefit, Northwest Territories cost of living offset |
|
Nova Scotia |
Nova Scotia child benefit (NSCB), Nova Scotia affordable living tax credit (NSALTC) |
|
Nunavut |
Nunavut child benefit (NUCB), Nunavut carbon credit (NCC) |
|
Ontario |
Ontario trillium benefit (OTB), Ontario energy and property tax credit (OEPTC), Northern Ontario energy credit (NOEC), Ontario sales tax credit (OSTC), Ontario child benefit (OCB), Ontario senior homeowners’ property tax grant (OSHPTG) |
|
Prince Edward Island |
Prince Edward Island sales tax credit |
|
Quebec |
Family Allowance |
|
Saskatchewan |
Saskatchewan low income tax credit (SLITC) |
|
Yukon |
Yukon child benefit (YCB), Yukon Government carbon price rebate – Individuals (YGCPRI) |
*Looking to apply for Canada PR? Let Y-Axis assist you with the process.
List of other benefits offered by Canada
Some of the other benefits offered by Canada are as follows:
- Canada dental benefit
- Disability Tax Credit (DTC)
- Canada Carbon Rebate (CCR) (formerly the Climate action incentive payment)
- Canada workers benefit
- Child disability benefit
- Canada caregiver credit
- Canada training credit
- Home accessibility tax credit
- Children’s special allowances
*Are you looking for step-by-step assistance for Canada Immigration? Talk to Y-Axis, the leading Overseas Immigration Company.
For the latest updates on Canada Immigration, check the Y-Axis Canada Immigration News Page.