This article will explain what the Canada Workers’ Benefit (CWB) is, how it works, and who is eligible to receive it.
You will know the payment dates for the year 2022 enabling you to submit your claim on time.
Canada Workers Benefit (CWB) is a scheme introduced to help low-income taxpayers.
If you are doing some work to generate your income and your earnings fall into the low-income group, you are eligible for this scheme.
This scheme is available to individuals and families.
If you are a low-income taxpayer, you will get a refundable tax credit while filing your tax return.
Through this scheme, you can claim 50 percent of your tax return in advance, and for this, you should know the CWB payment dates to apply within the due dates.
Since the date of the first quarter has already lapsed, the dates for the remaining three quarters are given below.
Quarterly payment dates
Second-quarter, 1st April 2022.
Third-quarter, July 5th, 2022
Fourth-quarter, October 5th, October
Working Income Tax Benefit (WITB) is replaced by Canadian Workers Benefits (CWB).
The new scheme was introduced in 2019 and it offers the following extra benefits as compared to the previous WITB.
You are eligible to get credit through CWB if:
Who is an Eligible Dependent?
Who are not eligible to CBW?
If you are having an eligible spouse and one of you is eligible for disability credit, only that person will get the basic credit and disability credit.
In case, both of you are eligible for disability benefit and one of you qualifies for basic credit, the only eligible person will get the basic credit, and both of you will get the disability benefit. But, for this, both of you will apply separately on “Schedule 6 forms”.
The basic amount is available to all Canadians who qualify for CWB. This amount is governed by certain factors like eligible dependable family members, marital status, and net income.
The amount of credit is adjusted according to the income. With the increase in income, the benefits are reduced and at a certain income, the benefits are withdrawn.
Under this scheme, an extra amount is available to those who are eligible for the disability tax credit.
You are eligible for a disability supplement if:
You are eligible for a disability tax credit and are in possession of a “Form T2201 Disability Tax Credit Certificate” and this form is filed with the Canada Revenue Agency.
How to Apply for the Advance Payment:
For applying for the advance payment, there are two options.
Sudbury Tax Centre,
P.O. Box 20000, Stn A
Sudbury, ON P3A 5C1