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    Home»Finance Canada»Tax Tip – Don’t miss out on benefits and credits: Why filing your taxes matters
    Finance Canada

    Tax Tip – Don’t miss out on benefits and credits: Why filing your taxes matters

    Robert JessiBy Robert Jessi12 July 2026No Comments4 Mins Read
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    Tax Tip – Don’t miss out on benefits and credits: Why filing your taxes matters
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    OTTAWA, ON, May 20, 2026 /CNW/ –

    It pays to file your taxes every year!

    Filing your taxes every year isn’t just about reporting your income — it’s the key to getting (and keeping) the benefits and credits that help you with everyday costs, including the new Canada Groceries and Essentials Benefit (CGEB). If you don’t file your taxes, you might be missing out on benefits and credits you’re entitled to receive.

    Why it’s important to file your taxes on time

    Your benefit and credit amounts for the year are calculated after your tax return is assessed. Starting in July each year, your benefit and credit amounts reset based on the tax return you filed for the previous year.

    When you file on time:

    • Your July benefit and credit payments arrive on schedule

    • You avoid unexpected delays

    • You stay up to date on your eligibility and payment amounts

    If you file late, you will still get your payments, but they may be delayed until the CRA finishes assessing your return.

    If you’re catching up on older returns, it’s not too late to file! Retroactive payments are available once those returns are filed and assessed.

    Tell us about any changes in your personal or financial situation

    Certain life changes could change the benefit and credit amounts you’re entitled to receive—make sure you keep us updated.

    Visit us online at Update your personal information with the CRA to let us know about changes to your address, phone number, name, or marital status, and more.

    Watch for your Notice of Determination

    The Canada Revenue Agency (CRA) will issue you an electronic Notice of Determination for each applicable benefit and credit you are entitled to receive. You can find these important documents by logging into your CRA Account.

    Your Notice(s) of Determination will tell you:

    • Which benefits and credits you qualify for

    • How much you’ll receive from July 2026 to June 2027

    If you’ve lost access to your account credentials, you can visit us online to regain access to your CRA account.

    Benefit and credit payments issued this summer!

    June 5, 2026: One‑time top‑up payment

    • If you received the January 2026 GST/HST credit payment, you’ll automatically receive the top-up payment

    • Note: The top-up payment will appear as a GST/HST credit on your notice and possibly also on your bank statement if you have signed up to receive direct deposits. This is because the top-up payment will be issued before the new CGEB officially begins.

    Starting in July 2026:

    • The first quarterly payment of the CGEB (formerly the GST/HST credit) will be issued on July 3, 2026

    • Eligible individuals will begin receiving CGEB payments now that GST/HST credit payments have ended. CGEB benefit payments may include an amount for a related provincial or territorial benefit program depending on your province or territory of residence

    • You will be eligible to receive the CGEB benefit if you filed your 2025 tax return and you meet the eligibility and entitlement requirements

    • If you haven’t filed yet, or filed late, you’ll get your first CGEB payment after your tax return is assessed

    If you’re just catching up on past tax returns now, don’t worry! This payment will be available retroactively if you’re entitled to receive it.

    Stay on top of key payment dates

    Find out when your benefit and credit payments will be issued by visiting Benefits payment dates. You can also sign up for our electronic mailing list to receive email reminders about one week before we issue the payment.

    Make things easier—Go digital and help yourself online!

    Signing up for the CRA’s digital services will help you stay on top of your benefits and credits and help ensure you keep getting all the benefit and credit payments and tax breaks you’re entitled to. Go to Register for a CRA account to sign up.

    We offer the following tools and resources without picking up the phone!

    • Once you have your online account, sign up for digital mail to receive your notices quickly and securely

    • Sign up for direct deposit through your financial institution or at canada.ca/cra-direct-deposit to receive all your payments and refunds directly into your bank account.

    • Track your benefit status, view your Notice of Determination, and check your application progress by signing into your account online at CRA Account

    • Visit us online at Check CRA processing times for a general estimate of our current processing times for requests related to benefits and credits

    • Visit our Skip the Line webpage to find the answers you need for self-service options without calling and waiting in line

    Contacts

    Media Relations Canada Revenue Agency 613-948-8366 cra-arc.media@cra-arc.gc.ca

    Stay connected

    • Watch our tax-related videos on YouTube

    SOURCE Canada Revenue Agency

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