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
Trudeau acknowledges charges in Nijjar killing, calls for commitment to democracy
Prime Minister Justin Trudeau has acknowledged the charges laid Friday in relation to the murder of B.C. Sikh activist Hardeep Singh Nijjar.
No proof man lied to brother about number of kittens born in litter, B.C. tribunal rules
A man was denied a $5,000 payout from his brother after a B.C. tribunal dismissed his claim disputing how many kittens were born in a litter.
Bodies recovered in Mexico likely 2 Australians, 1 American who went missing: officials
Three bodies recovered in an area of Baja California are likely to be those of the two Australians and an American who went missing last weekend during a camping and surfing trip, the state prosecutor’s office said Saturday.
Princess Anne lays wreath at B.C. veteran's cemetery; receives 21-gun salute
Princess Anne paid tribute to veterans buried at a cemetery in British Columbia today, laying a wreath to honour the more than 2,500 military personnel and family members buried there.
Mystik Dan wins the 150th Kentucky Derby at Churchill Downs in a three-horse photo finish
Mystik Dan won the 150th Kentucky Derby in a photo finish, edging out Forever Young and Sierra Leone for the upset victory.
'I just can't believe that it took so long': Body found in wreckage 3 months after deadly fire
A man accused of arson in a January Old Strathcona apartment fire is expected to be charged with manslaughter after a body was discovered in the burned building late last month.
Quebec police hand out hundreds of tickets to Hells Angels and other bikers before 'first run' meeting
Quebec provincial police handed out hundreds of fines to Hells Angels members and other supporting motorcycle clubs who met for their 'first run' in a small town near Sherbrooke, Que.
Work stoppage possible as WestJet issues lockout notice to maintenance engineers' union
A lockout notice issued by WestJet to a union representing aircraft maintenance engineers could result in a work stoppage next week.
London Drugs begins 'gradual reopening' on 7th day after cyberattack
Almost a week after all London Drugs stores across Western Canada abruptly closed amid a cyberattack, they began a "gradual reopening" on Saturday.