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
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Body of Quebec man who died in Cuba found in Russia, family confirms
A Montreal-area family confirmed to CTV News that the body of their loved one who died while on vacation in Cuba is being repatriated to Canada after it was mistakenly sent to Russia.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Saskatchewan isn't remitting the carbon tax on home heating. Why isn't my province following suit?
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
RCMP officers had no legal authority to enter man's home, make arrest: B.C. court
A B.C. man has been found not guilty of assaulting two RCMP officers – with the court finding he was resisting an "unlawful entry and arrest" in his home before he was tasered, taken down and hauled away in handcuffs.
'Deep ignorance': Calls for Manitoba trustee to resign sparked after comments about Indigenous people and reconciliation
A rural Manitoba school trustee is facing calls to resign over comments he made about Indigenous people and residential schools earlier this week.