Moving to Canada opens up a world of opportunities, including access to various benefits and tax credits designed to support both permanent residents and temporary visa holders.
These provisions, overseen by the Canada Revenue Agency (CRA), aim to provide financial assistance to newcomers during their transition and settlement in the country.
Newcomer status under the CRA applies during an individual’s first year of residence in Canada. To qualify for benefits and credits, either the newcomer or their spouse/common-law partner must be considered a resident of Canada for income tax purposes.
Before accessing benefits and credits, newcomers must obtain a Social Insurance Number (SIN) from Service Canada. This unique 9-digit identifier is essential for various purposes, including receiving payments, working, and opening bank accounts. SIN applications can be completed online, in person at a Service Canada Centre, or through mail.
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In cases where Service Canada is unable to provide a SIN immediately, the CRA may issue a temporary tax number (TTN) to facilitate access to benefits and online services.
Newcomers are eligible for benefits and credits without the requirement of filing their first tax return. Some of the key benefits include:
Temporary residents become eligible for the CCB after residing in Canada for 18 consecutive months and holding a valid permit on their 19th month.
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Beyond federal benefits, many provinces and territories offer additional support programs, including:
After filing their first tax return, newcomers may qualify for additional benefits such as:
To receive benefits and credits, individuals can sign up for direct deposit into their Canadian bank accounts. It’s essential to file income tax returns annually, even with no income, and keep personal information updated with the CRA.
Navigating Canada’s tax system as a newcomer can be complex, but understanding and accessing available benefits and credits can significantly ease the transition and provide valuable financial support during settlement.
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