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
Indian envoy warns of 'big red line,' days after charges laid in Nijjar case
India's envoy to Canada insists relations between the two countries are positive overall, despite what he describes as 'a lot of noise.'
Stormy Daniels describes meeting Trump during occasionally graphic testimony in hush money trial
With Donald Trump sitting just feet away, Stormy Daniels testified Tuesday at the former president's hush money trial about a sexual encounter the porn actor says they had in 2006 that resulted in her being paid to keep silent during the presidential race 10 years later.
U.S. paused bomb shipment to Israel to signal concerns over Rafah invasion, official says
The U.S. paused a shipment of bombs to Israel last week over concerns that Israel was approaching a decision on launching a full-scale assault on the southern Gaza city of Rafah against the wishes of the U.S.
Former homicide detective explains how police will investigate shooting outside Drake's Bridle Path mansion
Footage from dozens of security cameras in the area of Drake’s Bridle Path mansion could be the key to identifying the suspect responsible for shooting and seriously injuring a security guard outside the rapper’s sprawling home early Tuesday morning, a former Toronto homicide detective says.
Northern Ont. woman makes 'eggstraordinary' find
A chicken farmer near Mattawa made an 'eggstraordinary' find Friday morning when she discovered one of her hens laid an egg close to three times the size of an average large chicken egg.
Susan Buckner, who played spirited cheerleader Patty Simcox in 'Grease,' dead at 72
Susan Buckner, best known for playing peppy Rydell High School cheerleader Patty Simcox in the 1978 classic movie musical 'Grease,' has died. She was 72.
Jeremy Skibicki has 'uphill battle' to prove he's not criminally responsible in Winnipeg killings: legal analysts
Accused killer Jeremy Skibicki could have a challenging time convincing a judge that he is not criminally responsible for the deaths of four Indigenous women, a legal analyst says.
Bye-bye bag fee: Calgary repeals single-use bylaw
A Calgary bylaw requiring businesses to charge a minimum bag fee and only provide single-use items when requested has officially been tossed.
Alcohol believed to be a factor in boating incident after 2 men die: N.S. RCMP
Two Nova Scotia men are dead after a boat they were travelling in sank in the Annapolis River in Granville Centre, N.S., on Monday.