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Here’s Why Some Canadians May Have Just Received A Direct Deposit From the Feds

Did you just get money from the government?

Canadian residents from four provinces will find their bank balance slightly higher than when the day first started.

Thanks to the federal government’s Climate Action Incentive Payment (CAIP), residents of Alberta, Saskatchewan, Manitoba and Ontario are scheduled to receive direct deposits on July 15.

To put it simply, the CAIP is a is a tax credit that is given out to offset the federal pollution pricing system.

While, in all other provinces, direct proceeds are returned to the governments of those jurisdictions, for the four provinces listed above, proceeds are returned directly to residents.

This marks the first time these payments are being made on a quarterly basis, with July being the first month. In fact, on July 15, residents can expect a “double-up” payment for April-June and July-September.

The next installment will be made in October 2022, followed by one in January 2023.

That being said, the amount you received largely depends on where you live and your family situation.

A family of four in Alberta is scheduled to receive $1,079 over the course of the year, while a similar family in Ontario is eligible for $745. A family living in Saskatchewan will be receiving $1,101, while one in Manitoba will receive $832.

Those living in small and rural communities are even eligible for an additional 10% of the amount.

Since this is an annual amount, don’t expect all of that money to be in reflect in your bank balance today. However, you can expect a nice chunk of it all the same.

Right in time for the weekend, too!