Inflation relief payments on the way for P.E.I. residents
Over 90,000 Prince Edward Island residents will see a top-up in their bank accounts to help alleviate the pressure of record inflation rates affecting the cost of living in the province.
Known as an inflationary support payment, eligible individuals will see $150 directly deposited in their bank accounts by the Canada Revenue Agency (CRA) as early as Tuesday. For those without direct deposit set up, cheques will be arriving by mail over the coming days.
“As we emerge from a global pandemic and face significantly high inflation due to global events, we know that as a government we have to deliver whatever support we can within our provincial means, to help people,” Premier Dennis King said in a statement. “We are proud to partner with our federal colleagues to reach more than 90,000 Islanders with this support payment.”
According to the provincial government, the payment will be made in conjunction with the provincial carbon rebate and quarterly HST rebate cheque regularly distributed by the CRA.
Islanders are eligible for the $150 support payment if they are single and making less than $70,000 per year, with a prorated amount based on the level of income for single individuals making between $70,000 and $80,000. Couples who earn a combined income of $70,000 or less will each receive $150, while couples with a total family income between $70,000 and $100,000 will receive a prorated amount.
“Our government has always, and will always be here to support Islanders who are most affected by external factors beyond their control, which is what we are seeing with high inflationary prices right now,” said Minister of Finance Darlene Compton. “As our residents continue to feel the impact of price increases, this initiative coupled with other targeted supports that we have announced, will help those who are feeling the effects everyday.”
CTVNews.ca Top Stories
NEW From yearning for a change to cost of living, why some Canadians have left or may leave the country
For some immigrants, their dreams of permanently settling in Canada have taken an unexpected twist.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
NEW Capital gains tax change 'shortsighted' and 'sows division' business groups tell Freeland
Forging ahead with increasing Canada's capital gains inclusion rate 'sows division,' and is a 'shortsighted' way to improve the deficit, business groups are warning Finance Minister Chrystia Freeland.
Police handcuff man trying to enter Drake's Toronto mansion
Toronto police say a man was taken into custody outside Drake's Bridle Path mansion Wednesday afternoon after he tried to gain access to the residence.
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Ontario man frustrated after $3,500 paving job leaves driveway in shambles
An Ontario man considering having his driveway paved received a quote from a company for $7,000, but then, another paver in the neighbourhood knocked on his door and offered half that rate.
Florida deputies who fatally shot U.S. airman burst into wrong apartment, attorney says
Deputies responding to a disturbance call at a Florida apartment complex burst into the wrong unit and fatally shot a Black U.S. Air Force airman who was home alone when they saw he was armed with a gun, an attorney for the man's family said Wednesday.
Air Canada ranks near bottom on customer satisfaction: survey
Air Canada ranks below most other major North American airlines on customer satisfaction, with airfares a particular sore point, according to a new survey.
U.S. presidential candidate RFK Jr. had a brain worm, has recovered, campaign says
Independent U.S. presidential candidate Robert F. Kennedy Jr. had a parasite in his brain more than a decade ago, but has fully recovered, his campaign said, after the New York Times reported about the ailment.