Claim all You Can: 5 ways to Get More Money from the Government

The words “Free Money” may arouse suspicion. However, when the money comes from the government and not the other way around, why would you turn it down? Make sure you are aware of every possibility you have with these five extra ways. 

There are all sorts of monetary incentives that should motivate people to lead a particular useful lifestyle. 

Federal and provincial governments provide special offers for disabled persons, kids, and seniors. For example, you can get money to improve your home’s energy efficiency or build wheelchair ramps.

CERB is gone and closed, but there are STILL legit ways to get more from the Canadian Government for free. Here are the top-5: 

Anybody may have unclaimed cheques.

Free money can come in the form of a tax credit. You may have already earned it! Have you checked your treasures? 

The way to discover your hidden money is to click a certain button. It’s that easy — and always was. Go to the Canada Revenue Agency (CRA) website and reveal your uncashed tax or benefit cheques. You can log in via a CRA My Account or use My Service Canada Account.

Improve Your Home and Get Money for it 

This one is not for everyone, but probably for those who need it more than others. Many disabled persons struggle with mobility. The aging generation has these issues as well. These two groups of people may have a tax credit if they decide to upgrade their living area to make their life easier. 

The Home Accessibility Tax Credit provides money for renovations. 

You can build better conditions for yourself and your aging parents. Wheelchair ramps and chair lifts will facilitate the movement and help to minimize injuries.

You can receive up to $10,000 per year and improve your home. Don’t forget to get 15% back when tax times allow it. 

Get More of Your Pension

Another way for people who can’t work now. Some have worked their entire life — and they truly deserve the benefits. 

The Old Age Security pension is an income for elderly persons of age 65 and older. Usually, the elderly don’t have to do anything special to receive the money. Seniors might have up to $613.53 per month. By the way, the amount of money depends on the time you spend in Canada or another country.

In addition to that — the Guaranteed Income Supplement may complement the Old Age Security. You can get about $900 every month, depending on the family status and income. If you think that your payment amount is incorrect, you must write a letter within 90 days.

Money for Parenting 

Sometimes parenting is a thankless full-time job. Parental payments can more than compensate for sleepless nights and spent nerves. 

The Canada Child Benefit provides money, depending on the family’s income, number of kids, and age. You can get a significant tax-free monthly payment if you have kids under 18. However, the average amount is about $563.75 per one child.    

In the case of shared custody, each parent will get 50% of the money. The Canadian Revenue Agency will not give the full amount to one of the parents or split the amount using other percentages. 

You could check out Custody arrangements and benefits to provide shared custody if a child only lives with you part-time.

Some provinces offset family costs by providing special assistance programs. For example, each of your kids may count on an additional $119 every month if you live in Ontario.

Dig up forgotten treasures

Finding a $20 bill in an old jacket is always a pleasure. What would you say if it was not an old jacket but an old bank account?

Fortunately, The Bank of Canada maintains a particular registry. It includes inactive accounts for ten years or more. Just imagine how much money could have been forgotten there. 

You may think that things like that never really happen, but in 2020 forgetful account owners received $10.6 million from Canada’s central bank. By the way, the oldest one dates back to the 20th century. However, everything pales when you find out that unclaimed balances included $888 million at the end of 2019.

Make sure your name is in the Unclaimed Balances Registry — just in case. 

You save money if you save the Earth

Whether you support the fight against global warming or run around in a tinfoil hat (no judgment — your right is to believe in whatever you want), the Canadian government truly believes in the global cause — and it’s ready to pay for its beliefs to save the planet. 

There are many ways to get a tax credit or cash incentive: You can change the windows, put energy-saving lamps, solar panels, and create a roof garden. 

You will save a lot of money on electricity bills by converting your living area and also get hundreds of dollars from the government. 

Moreover, you can double incentives if you run a business by implementing commercial upgrades. For example, you can install an air curtain to keep the temperatures in control or create wellness rooms.

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