Government grants are financial funds that provide citizens with various assistance and support. They can also be applied for at no cost. However, finding the needed grant to meet a specific need can often be a challenge. Hence, this article will consider some of the most outstanding government grants available for Canadian citizens.
- The Canada Student Grant is accessible to full-time Canadian students in need of financial aid
- The Canada Workers Benefit provides working families and individuals with modest incomes.
Top Government Grants in Canada
The Canadian federal and provincial government is known to provide over $37 billion in grants each year. By and large, this shows the several government grants that are available to eligible citizens. In this section, we will outline the four major government grants in the country.
1. The Canada Child Benefit (CCB)
The CCB grant stands out for its tax-free monthly payments. Essentially, the grant provides aid to eligible families to help cover the expenses of raising children under 18.
Parents or couples can apply for the grant after the birth of their child. Whoever applies will be responsible for the child’s care.
Eligibility criteria for getting The CCB
- The child should be under 18
- You are a resident of Canada
In addition, you must meet any of the following criteria:
- You are a Canadian citizen
- A permanent resident
- Protected person or
- An individual eligible for registration under the Indian Act.
2. The CDB (Child Disability Benefit)
Secondly, we will consider the Child Disability Benefit. Just like the first, this is also a government grant with a tax-free monthly payment. By and large, the CDB assists families who have children below the age of 18 suffering from physical and mental impairment.
This grant is calculated based on the number of eligible children and AFNI (Adjusted Family Net Income).
Eligibility criteria for getting The CDB
- You must meet the eligibility requirements of the CCB (you can read the criteria above.)
- Your child must be eligible for The DTC (Disability Tax Credit). However, if your child is eligible for DTC and is applying for The CCB, there would be no need to get the CDB as it comes automatically.
3. Canada Student Grant for Full-Time Students
This is the third on our list and is available to full-time students in financial need and who reside in the country. As for the assessment, you will automatically have access when you apply for aid with your province.
Eligibility Criteria
- You must have a financial need
- You are a full-time student in a qualified program at the designated schools.
- Your total family income is less than the required income threshold.
4. Canada Workers Benefit
The CWB is a refundable tax credit. It is set up to help individuals and families who are working and earning low income. The government grants come in two parts: a basic amount and a disability supplement.
The Eligibility Criteria
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The Basic Amount
- You earn work income and the net income is below the one set for your territory.
- You are a resident of Canada throughout the year
- Are 19 years of age or older
-
The Disability Supplement
- Must be eligible for the disability tax credit and its certificate.
- Your net income is below the one set for your territory.
Conclusion
In summary, the need for government grants in a country cannot be over-emphasised. Hence, the various grants outlined in this article can benefit children, adults, and even students.
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