Canada Workers Benefit
By Nizam Shajani, CPA, CA, MBA
The Canada Workers Benefit is refundable tax credit that assists low income workers as a work incentive.
Who Receive the Benefit?
To be eligible for the CCB, you must meet all of the following conditions;
- You were a resident of Canada throughout the year
- You earned income from employment or business
- At the end of the year, you were 19 years of age or older
Who Cannot Receive the Benefit?
The following would not allow you to qualify for the CCB;
- You were enrolled as a full-time student for more than 13 weeks in the year, unless you had an eligible dependent at the end of the year
- You were confined to a prison for a period of at least 90 days during the year
- You or a family member were exempt from income tax in Canada
There is a bit of a calculation required to determine how much you could get.
If you have a spouse or an eligible dependent, you may receive the basic CWB for family income less than $36,075.
If you do not have a spouse or eligible dependent, you may receive the basic CWB if your income is less than $25,308.
Income level criteria change where you are eligible for the disability tax credit.
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