03/02/2024
Are you aware of newly introduced Advanced Canada Workers Benefit (ACWB)?
Starting in July 2023 and based on the 2022 taxation year, the CWB will provide advance payments equal to 50% of the CWB across 3 payments under the Advanced Canada workers benefit (ACWB). This initiative puts more money in the workers' pockets to help cope with the rising cost of living. CRA issues a form called RC210 for the money ACWB you received in 2023. You should bring this form to your accountant when filing your 2023 tax.
Anyone who applied and received the CWB in 2022 will receive the advanced payments, there is no need to apply.