The Canadian government offers all kinds of cash incentives and benefit programs to its citizens to offset the rising costs of goods and services in Canada.
Getting free money in Canada from the government or other legit sources can reduce the burden on your budget and wallet.
So if you are asking “How can I get free money in Canada?”, “Where can I get free money?” and “Is there a way to get free money from the Canadian government?”; then, the answer to your questions lies in this article.
Sit tight, and look at 14 legit and easy ways to get Free Money from the Canadian Government.
1. Apply for Employment Insurance (EI) Benefits and Leave
The EI benefit is a government-funded program that provides temporary income and support to unemployed Canadians looking for employment.
The program offers a maximum of $650 per week to working Canadians who stopped working due to specific life events. 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.
- The EI Sickness Benefits provide up to 15/26 weeks of financial assistance to Canadians who can’t work for medical reasons.
- The EI Maternity and Parental Benefits offer benefits to working Canadians who can’t work because they are pregnant or have to care for a newborn or newly adopted child.
- The EI Caregiving Benefits are for Canadians who can’t work because they need to care for or support a critically ill or someone needing end-of-life care.
2. Apply for Family and Caregiving Benefits
The family and caregiving benefits from the Canadian government are a way to put more free money in your pocket in Canada. The programs are aimed at helping Canadians with the costs of raising their children, including children with disabilities.
If you have children and want free money from the Canadian government, 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 provides about $264.53 monthly payments to the dependent children of disabled or deceased parents who have made sufficient contributions to the CPP.
- The Child Disability Benefit (CDB) is 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 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 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.
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; with it, you get $2,000 of free money per eligible child.
- The Canada Education Savings Grant (CESG) is also an RESP top-up incentive the Canadian Government provides to eligible families who are saving for their children’s post-secondary education. With the CESG, you can get up to $7,200 free money per eligible child.
5. Apply for Federal Housing Benefits
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 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 as a down payment when Canadians want to purchase their first home.
- 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
You can apply for some benefits if you are a Canadian citizen with disabilities and cannot work. These disability 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) Disability Benefits are a monthly payment for all CPP contributors with mental or physical disabilities that prevent them from working.
- The Education Funding for People with Disabilities offers financial assistance to students with permanent disabilities enrolled at a designated post-secondary institution.
- The Canada Disability Savings Grant and Bond offers $3,500 annually ($70,000 lifetime limit) as a grant and $1,000 annually ($20,000 lifetime limit) 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 with service-related disabilities.
- The Excise Gasoline Tax Refund program refunds 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.
7. Apply for Provincial Welfare Benefits
You can also apply for welfare benefits if you need some free money in Canada. 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 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.
8. Apply for Provincial Child Benefits
Every province and territory in Canada has several Child Benefits designed to support families with children below 18. You can apply for these Provincial Child Benefits and get 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 raise young children below the age of 6. In Quebec, 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.
For Ontarians, the Ontario Child Benefit provides monthly benefits 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 for your free money.
9. Apply for the Athlete Assistance Program
The Athlete Assistance Program (AAP) is a sports funding program the Canadian government provides 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 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
Suppose 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 apply for the Apprenticeship Completion Grant (ACG), a one-time cash grant of $2,000. There is 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 way to get free money from the Canadian government as a student is to apply for scholarships and bursaries the Canadian government provides.
A handful of merit-based scholarships exist in Canada for undergraduate, graduate, and postdoctoral studies.
- The International Business Scholarships are for students pursuing a career or furthering their studies in international business.
- The Dick Martin Scholarship Award is a $3,000 national scholarship for students enrolled in Canada in occupational health and safety-related courses.
- The Canada Graduate Scholarship – Master’s Program is for graduates undertaking research in health, engineering, social sciences, natural sciences, or humanities. You can get $17,500 free money from the Canadian Government.
Other Ways to Get Free Money in Canada
10. Claim 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 need to know precisely how to file your tax returns using free tax software, or a tax expert can help you claim your tax deductions.
11. 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 your answers to search for benefits and services that suit you. You will get more customised and accurate results when you answer more questions.
With this tool, you can know which programs you are eligible to receive and start your application process immediately to grab all your free money.
12. Maximize your Employer’s RRSP Matching
The Registered Retirement Savings Plan (RRSP) matching program incentivises working Canadians to save for retirement subsidised by their employers.
Employees contribute a certain portion of their income to their RRSP, which their employer then matches in whole or part.
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?
13. 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 are 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.
14. Dig up Forgotten Bank Accounts
The Bank of Canada runs a registry of accounts that allows you to recover forgotten money in accounts that may have been inactive for ten years or more.
Some sites are dedicated to helping you find unclaimed funds. These sites are the perfect places to start your journey of getting free money.
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 initially, 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.