Canadian immigration news: The growing living costs in Canada is being felt by Canadians and permanent residents alike, especially in the form of higher rent and food prices. More and more individuals are being forced to decide between buying food and buying medication. Canada simply cannot afford to stop providing the services that keep Canadians healthy and the robust economy is facing rising petrol costs and a shortage of affordable housing.
Paying for the most fundamental requirements is becoming more difficult in Canada. Everybody is being impacted by the growing expenses of food, housing, and prescription drugs. Workers are prepared to organize, but the government aims to support them through funding initiatives that ensure no one is left behind.
Politicians are now making choices that can positively affect the country’s economic recovery. They are working to put more money back into the pockets of the middle class, despite the fact that inflation is a global challenge brought on by the COVID-19 pandemic and Russia's invasion of Ukraine.
The government's first bills to be tabled in the forthcoming session of Parliament, according to Prime Minister Justin Trudeau, whose aim is to improve the quality of life for Canadians in need and alleviate high living costs in Canada.
“From helping families pay rent to making sure people can afford the dental care they need and putting hundreds of dollars back in the pockets of Canadians, this suite of new measures will support families who need it the most, when they need it the most. As we head into a new Parliamentary sitting, we are working hard to continue delivering results for the middle class and those working hard to join it,” Reiterated the Rt. Hon. Justin Trudeau, Prime Minister of Canada.
There are three major policies to be introduced in order to achieve this. Below, we dive into what these are.
1. The Goods and Services Tax Credit to be Doubled
For a period of six months, the Goods and Services Tax Credit (GSTC) will be doubled, providing assistance to around 11 million people and families who are eligible for the tax credit, including more than half of Canadian seniors and about half of families with children. Couples with two children might earn an additional $467 this year, while single Canadians without children could receive up to an additional $234. Seniors would receive an average increase of $225.
The government is proposing to double the GST Credit at $2.5 billion for six months - this is done to provide targeted help to individuals who are negatively impacted by inflation.
Those with household net incomes of less than $39,826 in 2021, will be eligible for the entire credit amount, ensuring that the GST Credit is given to those who need it the most. The GST Credit amount steadily decreases as income rises over this threshold.
In anticipation of parliamentary approval and the Royal Assent of enabling legislation, the proposed additional GST Credit amounts would be distributed to all current beneficiaries through the present GST Credit system as a one-time, lump-sum payment before the end of the year.
An estimated 11 million people, including over two million couples and nine million single persons, would gain from this increased assistance. This sum covers more than half of Canadian seniors and approximately half of Canadian households with children.
2. Providing Dental Care for Children Under 12
In more Canadian Immigration News, the government plans to give children under the age of 12, who don't have access to dental insurance, a Canada Dental Benefit. For dental care services, direct payments in the amount of up to $1,300 per kid over the next two years (up to $650 per year) would be made. As we establish a comprehensive national dental care program, this is the first phase of the government's plan to provide dental coverage for families with incomes under $90,000. The plan will enable children under the age of 12 to receive the necessary dental treatment.
Although seeing the dentist is necessary for our health, it may be pricey. More than one in five Canadians reported not getting dental treatment because of the expense in 2018, and a third of Canadians currently do not have dental insurance.
Due to these factors, the government has already pledged to offer dental treatment to uninsured Canadians with a household income of less than $90,000 per year, beginning in 2022, with children under the age of 12.
This is the initial phase of the government's plan to provide dental coverage to low-income families, enabling qualified children under the age of 12 to get the necessary dental treatment while a full national dental care program is constructed.
This targeted $938 million investment would assist 500,000 Canadian youngsters, according to estimates. In order to create a comprehensive national long-term dental care program, the federal government is still committed to providing dental care to Canadians. Regarding the structure and implementation schedule of such a program, provinces, territories, and private enterprise have been consulted. By 2025, the federal government still intends to fully establish a dental care program for families earning under $90,000. Find out more about children's health in Canada here.
3. Dealing With The Rental Increase Issue
To address the high living costs in Canada, the Canadian government plans to give 1.8 million renters who are suffering from the expense of housing, a $500 one-time chance to boost the Canada Housing Benefit. By doing this, The government is able to reach twice as many Canadians as we had originally committed to in Budget 2022. The Canada Housing Payment, which is now co-funded and provided by the provinces and territories, will be supplemented by this new one-time federal benefit.
What does this Mean for Immigrants?
Because permanent residents are offered the same benefits and rights as Canadian citizens with regard to social welfare, many immigrants that sought a better life in Canada will benefit immensely from these new policies. Overall, these policies aim to alleviate the financial strain faced by many Canadians and permanent residents across the country.
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