The term “Free Money” sounds pleasing because we all love to get things for free, from free train rides, free lunches, and free treats from our loved ones to allowances from parents. Everyone likes the idea of some ‘manna’ from heaven.
No one would turn down free money, especially when coming from the Canadian government. The Canadian government offers all kinds of cash incentives and benefit programs to its citizens to live life the way they want.
The Government takes a slice of your paychecks as taxes, and they are holding on to truckloads of unclaimed money that belongs to you. What if there are ways to get back some of that cash to better your life?
If you are asking “How can I get free money in Canada?”, “Where can I get free money?”, “Is there a way to get money from the government?”, then the answer to your questions lies in this article.
Sit tight, and let’s look at 21 Practical Ways To Get Free Money in Canada 2022. Let’s get started!
How To Get Free Money in Canada
In this section, we will look in-depth at practical ways you can get free money in Canada.
While most of these free money Canada ideas may require a little effort and time on your part, they are all legitimate and practical ways to get free money at little or no expense to you.
A major chunk of this article will discuss extensively how you can get free money through government benefits and programs, tax deductions, and uncashed government benefits. Also, I discussed how you can benefit from scholarships, aids, bursaries, and grants.
Other strategies for earning free money in Canada also include cashback apps, market research/survey sites, and other cool methods.
Trust me, this article is loaded, and I promise it’ll be worth your time. 21 practical ways you can get free money in Canada
Get Free Money From the Government of Canada
1. Apply for Employment Insurance (EI) Benefits and Leave
The Canadian Government introduced the Employment Insurance (EI) program to provide temporary income and support to unemployed Canadians while looking for employment.
The program also provides unique benefits to working Canadians who stopped working due to specific life events. When you apply for EI benefits and leave, you can get a maximum of $638 per week. There are different types of EI benefits for different situations.
The EI Regular Benefits provide temporary benefits for Canadians who lose their jobs through no fault of theirs and are available and able to work but can’t find a job. In contrast, the EI Sickness Benefits provide up to 15 weeks of financial assistance to Canadians who can’t work for medical reasons.
There is also the EI Maternity and Parental Benefits for working Canadians who can’t work because they are pregnant or have to care for a newborn or newly adopted child.
And the EI Caregiving Benefits for Canadians who can’t work because they need to care for or support a critically ill or someone needing end-of-life care.
If you are self-employed, you can apply for the EI Benefits for Self-employed and finally the Fishing Benefits if you are a fisherman. Canadians who work outside Canada for a Canadian company or the Canadian government can also apply for EI benefits.
2. Apply for Family and Caregiving Benefits
The family and caregiving benefit is for sure a way to put more free money in your pocket in Canada.
This benefit was introduced by the Canadian government to help Canadians with the costs of raising their children, including children with disabilities.
If you have children and want to get free money in Canada, you can apply for programs like the Canada Child Benefit, CPP Children’s benefits, and more.
The Canada Child Benefit (CCB) is a tax-free monthly payment administered by the CRA to eligible families to help with the costs of raising kids under 18 years.
The CPP Children’s benefit on the other hand provides about $264.53 monthly payments to the dependent children of disabled or deceased parents who have made sufficient contributions to the CPP.
Other benefits in this category include:
- The Child Disability Benefit (CDB) for families who care for children with severe and prolonged impairment in physical or mental functions.
- The Canadian Benefit for Parents of Young Victims of Crime which supports parents who stopped working to cope with the disappearance or death of their child with $450 per week
- Financial Assistance for Canadians Victimized Abroad which supports Canadians who have been victims of serious violent crimes in a foreign country.
3. Get Free Money from Public Pension
Canada Public Service Pension Plan is designed to provide Canadians with a retirement income payable throughout their lifetime. There are different pension benefits you can apply for to get free money in Canada.
The Canada Pension Plan (CPP) provides monthly taxable benefits to CPP contributors that replace part of their income when they retire.
The Old Age Security (OAS) offers a monthly payment for Canadians 65 years or older.
The Guaranteed Income Supplement (GIS) provides non-taxable payments to you if you live in Canada and are 60 – 64 years old.
You can also apply for the Allowance for the Survivor or the Allowance for people aged 60 to 64.
Related: Retirement Planning: Top 8 Retirement Accounts You Must Know as a Canadian
4. Apply for RESP Grants
If you are a student in Canada, you can get free money from the Government of Canada to help with your education expenses.
The Canada Student Financial Assistance program offers grants and loans to students to help pay for their post-secondary education.
There is a list of Federal Student Grants that you can apply for; however, your eligibility will be assessed when you apply with your province or territory.
The Canada Learning Bond (CLB) is a top-up on the RESP of children from low-income families. It is paid by the Canadian government to eligible families, and with it, you stand to get $2,000 of free money per eligible child.
Further, the Canada Education Savings Grant (CESG) is another RESP top-up incentive provided by the Canadian Government to eligible families who are saving for their children’s post-secondary education. With the CESG, you can get up to $7,200 of free money per eligible child.
5. Apply for Federal Housing Benefits
The Canadian government provides help to families with children who are struggling to pay their rent. The Federal Housing Benefits provide short-term assistance with rent so you can address other expenses like food, clothing, and childcare.
Depending on your location, income, and composition, you can get as much as $300 to $475 per month.
The Canadian government offers programs such as the National Housing Benefits, Canada Greener Homes Grants, and the GST/HST new housing rebate.
The Canada Greener Homes Grants help Canadians make their homes more energy-efficient while saving money, creating jobs for energy advisors, and fighting climate change.
The GST/HST New Housing Rebate allows an individual to recover the federal part of the Harmonized Sales Tax (HST) or some of the Goods and Services Tax (GST) for a new home or a substantially removed house.
The First-Time Home Buyer Incentive offers 5 or 10% of a home’s purchase price to pay as a down payment when Canadians want to purchase their first home.
In contrast, the Home Accessibility Tax Credit (HATC) is offered to help make homes safer and accessible for Canadians with disabilities and older adults above 65 years.
6. Apply for Federal Disability Benefits
There are some benefits you can apply for if you are a Canadian citizen with disabilities and cannot work.
Disabilities benefits are tax-free financial payments from the Canadian government for the impacts that a disease or injury can have on your life.
The Canada Pension Plan (CPP) disabilities benefits are a monthly payment for all CPP contributors who have mental or physical disabilities that prevent them from working.
Further, the Education funding for people with disabilities offers financial assistance to students with permanent disabilities enrolled at a designated post-secondary institution.
Also, the Canada Disability Savings Grant and Bond offers $3,000 annually as a grant or $1,000 annually as a bond into the Registered Disability Savings Plan (RDSP) for low and modest-income Canadians.
The Disability benefits for Veterans also offer financial payments to Canadian Veterans and Armed Forces members who have service-related disabilities.
Finally, the Excise Gasoline Tax Refund program offers a refund of part of the federal excise tax on gasoline to Canadians who cannot safely use public transportation because they have a permanent mobility impairment certified by a medical practitioner.
Get Free Money Through Scholarships, Aid, Bursaries, and Grants
7. Apply for the Athlete Assistance Program
The Athlete Assistance Program (AAP) is a sports funding program provided by the Canadian government to assist Canadian athletes.
If you are an athlete, you can apply for the AAP to relieve yourself of some financial pressure between preparing for and participating in international sports.
Because combining sports and academic or working careers can be a little tedious, the Canadian government provides this funding to help you while training intensively in pursuit of world-class performances.
So, if you are living and training in Canada as an athlete, you should jump on this funding program and cash out on some free money from the Canadian Government
8. Apply for the Apprenticeship Incentive Grant
If you are an apprentice training in any designated Red Seal trade, you can apply for the Apprenticeship Incentive Grant (AIG) and grab some free money from the Government of Canada.
The Canadian government provides a taxable cash grant, AIG, worth $1,000 per level, up to a maximum of $2,000 to registered apprentices for the first two years of their training.
When you complete your training and obtain your journeyperson certification, you can also apply for the Apprenticeship Completion Grant (ACG), a one-time cash grant of $2,000.
The Apprenticeship Incentive Grant for Women (AIG-W) is primarily dedicated to women and is a taxable cash grant of $3,000 per level, up to a maximum amount of $6,000.
9. Apply for Student Aid, Scholarships, and Bursaries
A sure-fire way to get free money in Canada as a student is to apply for scholarships and bursaries provided by the Canadian government.
There are a handful of merit-based scholarships for undergraduate, graduate, and postdoctoral studies. Some of these scholarships include the International Business Scholarships which are for students pursuing a career or furthering their studies in international business.
Further, the Dick Martin Scholarship Award is a $3,000 national scholarship for students enrolled in occupational health and safety-related courses in Canada.
There is also the Canada Graduate Scholarship – Master’s Program, where graduates undertaking research in health, engineering, social sciences, natural sciences, or humanities can get $17,500 free money from the Canadian Government.
10. Use the Indigenous Bursaries Search Tool
If you self-identify as an Indigenous person, and you believe you are related to or descended from the Original peoples of Canada including the Indian (First Nation), Métis, or Inuit, there are a plethora of different bursaries that can provide you with free money to subsidize your education.
As an Indigenous Canadian Student in a full-time or part-time program, you can use the Indigenous Bursaries Search Tool to search for bursaries, incentives, and scholarships offered by the Canadian government, colleges, universities, individual Canadians, private and public companies, and others.
The Indigenous Bursaries Search Tool offers a searchable list of 250 bursaries, incentives, and scholarships for indigenous students across Canada.
11. Apply for Home-Based/ Small Business Grants
The Canadian government has several funding programs that support small businesses, large corporations, non-profits, and research institutions. You need to know which available programs provide the best fit for your business and upcoming projects.
Many government grants, subsidies, loans, and stimulus packages are available for hiring and training, research and innovation, capital and technology adoption, and business expansion and exporting.
Learn more about how the funding programs work, how to navigate the process, and support services that can help you develop a successful application.
Get Free Money From Provincial Governments
12. Apply for Provincial Welfare Benefits
If you need some free money in Canada, you can also apply for welfare benefits.
There are several welfare benefits in Canada. The programs in every province and territory vary because each jurisdiction has its social assistance programs, refundable tax credit, and its benefit programs.
For Ontario residents, there is the Ontario Works (OW) benefit; there is also the Saskatchewan Income Support (SIS) program for residents of Saskatchewan, Barriers to Full Employment (BFE), and the Assured Income for the Severely Handicapped (AISH) under the Alberta’s Income Support program for residents of Alberta.
You can use the Welfare Benefits Search Tool to find welfare benefits programs that are unique to your province.
13. Apply for Provincial Child Benefits
There are Child Benefits in every province and territory designed to support families with children below the age of 18.
You can apply for these Provincial Child Benefits and get some free money from the government to support yourself and your family.
The B.C. Early Childhood Tax Benefit (BCECTB) offers up to $55 per month to eligible families to help them with the cost of raising young children who are below the age of 6.
Quebec’s Child Assistance Benefit offers a refundable tax credit to all eligible families with one or more dependent children below 18 years living with them.
The Ontario Child Benefit provides $1,378 per year to low and moderate-income families to help with the cost of raising their children.
Every province and territory has its Child Benefits program. Look out for them if you are eligible and apply to receive your free money.
Get Free Money Online Canada
14. Earn Free Money with Cashback Shopping Apps
When you shop for groceries and other items, you can quickly get your money back by shopping with cashback apps installed on your phone.
A cashback app like Swagbucks, Rakuten, and Ampli, gives users a rebate on a purchase and provides a coupon for additional discounts. Thanks to these cashback apps you can save money every time you shop online.
So, if you are a savvy shopper looking to save on the money you are spending, you should learn how these cash-back apps can help you seriously add up rewards. You can check out Swagbucks, Rakuten, and Drop out right now
15. Earn Free Money from Survey and Opinion Sites
You can start making some free money online in Canada from paid surveys and receive cash, gift cards, and more.
You can also get paid by giving your opinion and feedback on real products. Give your honest opinion on products and earn free cash rewards from your favorite retailers.
Popular sites like Daily Rewards, PineCone Research, Survey Junkie, Branded Surveys, i-Say, and LifePoints are great places to start.
Other Ways to Get Free Money in Canada
16. Claim Tax Deductions
You can receive a lot of money when you claim your tax deductions. Tax deductions can assist with increasing your tax refunds. You would be surprised at how many tax deductions you qualify for.
You can claim a tax deduction for expenses you incur in your work or business. However, you would need to know precisely how to file your tax returns using free tax software, or a tax expert can help you do that.
17. Use the Benefits Finder
The Benefits Finder is a search tool that helps you find other benefits, grants, and programs you might be eligible to receive.
It only asks you a few questions and uses the answers you give to search for benefits and services that suit you. You will get more customized and accurate results when you answer more questions.
With this tool, you can get to know which programs you are eligible to receive, and you can start your application process immediately to grab all your free money.
18. Maximize your Employer’s RRSP Matching
The Registered Retirement Savings Plan (RRSP) matching program is an incentive for working Canadians to save for retirement subsidized by their employers.
Employees contribute a certain portion of their income to their RRSP, which is then matched in whole or part by their employer.
You can get 20% to 50% of your RRSP contributions as an income tax refund. So if you have put a total of $1,000 in your RRSP, you will get an income tax refund of $200 to $500.
This is one sure way to get free money in Canada.
Related: TFSA vs RRSP: How to Choose?
19. Check for Unclaimed Cheques
Millions of dollars in uncashed cheques from the Canada Revenue Agency (CRA) are currently sitting in their accounting departments, waiting to be claimed. You might have some free money in the form of a tax credit you haven’t claimed.
The Canada Revenue Agency (CRA) has a section on its website that displays any tax or benefit cheques you need to cash. These cheques were mailed to individuals and businesses that filed income tax returns and had money owing to them.
You can create a CRA My Account or log in through your My Service Canada account to see your unclaimed cheques and get your free unclaimed government money.
20. Dig up Forgotten Bank Accounts
The Bank of Canada runs a registry of accounts that allows you to recover forgotten money in bank accounts that may have been inactive for ten years or more.
Some sites are dedicated to helping you find unclaimed funds. These sites are perfect places to start your journey of getting free money.
21. Open a HISA or GIC Investment
Another way you can earn free money in Canada is to put your money to good use and put them into High-Interest Savings Account (HISA) or even better buy a GIC certificate from digital banks like EQ Bank.
EQ Bank offers short and long-term GIC investments for up to 10 years, and they offer some of Canada’s highest HISA rates and even Guaranteed Investment Certificates (GICs) rates.
EQ Bank is a digital bank and doesn’t have a physical bank branch. Therefore, they are able to pass on savings to their customers via higher interest rates and $0 fees.
You can for sure save transaction fees when you open an investment account with EQ bank, thereby indirectly putting some free money in your pocket.
Final Thoughts on Free Money Canada
The Government of Canada sets aside a wealth of income support for its citizens and permanent residents.
If you need an extra boost in your income to take care of circumstances beyond your control, you should be looking at getting this as much free money from the Canadian government. After all, they are yours to claim.
Although the eligibility criteria and application process might be intimidating at first, you will later discover that it is well worth the effort.
The free money will make a difference in your budget and overall peace of mind.
FAQs on Free Money Canada
How do I make money using my iPhone?
These apps allow you to earn by installing and keeping them on your iPhone or playing games or partaking in research.
Which apps can I play games and earn money on my iPhone or Android?
By playing games, answering surveys, and watching videos, users can earn money with Swagbucks and Daily Rewards.
Do any of the apps payout money to Paypal?
Users can redeem their cash from Swagbucks, Survey Junkie, and Pinecone Research through Paypal. There are different rules for when you can redeem your cash on each site.
Hi, I'm Adeola Adegoke. I am a licensed Insurance Broker in Manitoba, and I hold a master’s degree in Mathematical Sciences (with a major in Financial Modeling) from the African Institute for Mathematical Sciences (AIMS), Tanzania.
Also, I have a second master's degree in Statistics from the University of Regina, and I am currently pursuing my Ph.D. in Statistics at the University of Manitoba.
The primary purpose of Money Reverie is to help everyday Canadians make better financial decisions by providing up-to-date financial news and information, reports, product reviews, and government programs.