Friday, July 18, 2014

Canadian Federal Government Cheques Discontinued as of April 2016

Today is the day that Child Tax Benefit amounts change to being based on the 2013 tax year instead of the 2012 tax year.  As a result I've watched a fair bit of online chatter about a spectrum of issues around Child Tax Benefit, Ontario Trillium Benefit and GST Credits.

The most asked question seems to be "Will my cheque arrive today?"

Government of Canada cheque. Picture via Public Works and Services Canada

Cheque?  You havn't set yourself up for direct deposit yet?  No more physically having to go to the bank to deposit the cheque each month.  So much easier.  Simplify your life.

The Canadian Federal Government wants you to set up direct deposit as well.  In fact, they will no longer be sending out physical cheques by April 2016.    This includes payments for Child Tax Benefit, Employment Insurance, Income Tax Refunds, GST credits, and more.

If you have your taxes prepared and filed by a tax professional, they can set you up for direct deposit when you are filing your taxes.  If you do your own taxes, you can set up direct deposit using My Account online, or by filling out a Direct Deposit Enrollment Form and mailing it in.


Wind Songs Spiritual Poetry said...

So this is construed to a specific class, and for those of us that don't bank in banks (some can't afford it) and other refuse to open an account so they can ding you with Charges are hooped I guess. Another way of the Government and Banks working together for their own but common agenda. Almost shameful to be Canadian today.

Cindy Babcock said...

There are Canadian accounts that are free to use. PC Financial, and Tangerine (used to be ING), offer banking without charge. Royal Bank offers free accounts with one debit transaction a month...enough to pull out the cash.

For those who don't want to use a bank for any of a variety of reasons, maybe they could have cheques deposited to a trusted friend or family members account and then have them pass along the cash?

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