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Published | Category : Income tax - individuals

Extension of the Eligibility Period for the Refundable Cost of Living Tax Credit

The government has extended the period for receiving the refundable cost of living tax credit. For the purpose of receiving the credit, the deadline for filing the 2021 income tax return has been extended from June 30, 2023, to June 30, 2024.

Under the credit, which was first announced on November 9, 2022, eligible individuals could receive up to $600 or $400, depending on their net income. To receive it, eligible individuals had to file their 2021 income tax return by June 30, 2023.

If you already filed your 2021 income tax return by June 30, 2023, this new announcement does not concern you—if you were eligible for the tax credit, you already received it.

However, eligible individuals who filed their 2021 income tax return from July 1, 2023, to January 31, 2024, will receive the credit by February 29, 2024.

Likewise, eligible individuals who file their 2021 income tax return from February 1 to June 30, 2024, will receive the credit by September 30, 2024.

Moreover, eligible individuals who file their 2021 income tax return may also receive the one-time cost of living credit of up to $500 that was announced in the budget speech of March 22, 2022.

For more information, click Refundable Cost of Living Tax Credit or see information bulletin 2024-2 (PDF – 143 KB) on the Ministère des Finances website.

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