The federal government has introduced changes to the Goods and Services Tax (GST) credit to provide additional financial support to Canadians facing higher living expenses. The updated program, now called the Canada Groceries and Essentials Credit, aims to offer more targeted assistance to low- and middle-income households.
This adjustment reflects the government’s effort to adapt existing tax benefits to current economic challenges, ensuring that those most affected by inflation receive timely help.
**Why this matters**
Rising prices for everyday items have put pressure on household budgets across the country. By enhancing the GST credit, the government is seeking to ease some of the financial strain on vulnerable populations, helping them manage essential costs more effectively.
Source: NewsData