Financial aid in Canada: Government programs to support newcomers

The CCB provides tax-free monthly payments to families with children under 18. The amount depends on your family’s income and the number of children. This benefit helps cover the costs of raising children like childcare, education and extracurricular activities. You may qualify for the CCB if you meet certain residency and income requirements.

The GST/HST credit is a tax-free payment available to low- and moderate-income families and individuals. It helps offset the Goods and Services Tax and Harmonized Sales Tax you pay on goods and services. Payments are made quarterly and eligibility is determined when you file your income tax return.

The Canada Housing Benefit provides financial assistance to help low-income renters afford their housing costs. Each province and territory administers the program differently, so check with your local government for specific eligibility criteria and application procedures. You may qualify for this benefit if you meet income thresholds and other criteria set by your local jurisdiction, so it’s a good idea to inquire even if you’re unsure whether you meet all the requirements.

If you lose your job through no fault of your own, you may qualify for Employment Insurance (EI) benefits. These temporary financial benefits help cover living expenses while you search for new employment. EI also includes special benefits for maternity, parental leave and sickness.

The Canada Workers Benefit is a refundable tax credit for low-income workers. It supplements income and encourages workforce participation. If you qualify, you can receive the benefit when you file your taxes, and there’s also an option for advance payments throughout the year.

For newcomers pursuing education, the Canada Student Loans Program (CSLP) offers loans and grants to help cover tuition and living expenses. Each province and territory also has its own student aid programs, which may offer additional financial support.

Newcomers who meet the residency requirements can receive Old Age Security (OAS) benefits starting at age 65. Low-income seniors may also qualify for the Guaranteed Income Supplement (GIS) to top up their OAS payments.

In addition to federal programs, provinces and territories offer various financial aid initiatives. These can include rental assistance, energy subsidies and other supports tailored to the local cost of living. Be sure to explore the resources available in your region.