Description: The Government of Canada is directing financial relief to citizens with lower income to help them deal with this current inflationary environment. One measure is the doubling of the Goods and Service Tax Credit (GSTC) for those with family incomes under $39,826 in 2021. A second measure, the Canada Dental Benefit, will provide cash to assist children in families with income under $90,000 and no other dental plan. Finally, the Canada Housing Benefit is designed to help families earning under $35,000 with their rental costs.

Date: September 14, 2022

Source:  financialpost.com

 Link: https://financialpost.com/personal-finance/taxes/ottawa-inflation-relief-benefit-programs-qualify

Discussion points:

1) Will you qualify for any of these programs?

2) Which of these do you see as the most helpful measure for students at your university?

3) Chapter one of Wiley’s Auditing: A Practical Approach discusses several different types of audits. What type of audit would the Canada Revenue Agency perform to verify the income of applicants for these programs?