As the Canada Revenue Agency gets ready to send out a $670 credit in February 2026, a new round of federal financial help is getting a lot of attention. As the cost of living goes up, many Canadians are asking the same questions: Who is eligible? When will the deposit arrive? How do you find out your status?
The February 2026 distribution is getting a lot of attention, even though the payment is part of a well-known federal credit system. Canadians who qualify will get their payment by direct deposit or by mail, depending on how the CRA has set up their tax information on file.
This is a full explanation of what the $670 federal credit means, how to qualify for it, and what Canadians should do right now to make sure they get their deposit on time.
What is the $670 Federal Credit that is due in February 2026?
The $670 is a federal credit from the Canada Revenue Agency. It is part of the ongoing cost-of-living relief measures. This credit doesn’t come with a new benefit; instead, it works through the tax and benefit system that the CRA uses to give out income-tested supports.
Federal credits are meant to help people and families with low incomes directly with money. Most of the time, they are based on the most recent tax return.
The $670 payment for February 2026 is based on a benefit amount that takes into account things like income level, residency status, and whether or not the person filed their taxes on time. If all the information is up to date, payment will come automatically for many people.
Why This Payment Is Important in 2026
Even though Canada’s economy is getting better in some areas, many families are still having a hard time because of the high cost of housing, groceries, utilities, transportation, and healthcare.
There are a few important things that federal credits do:
- Giving cash help directly without needing a separate application.
- Helping people with low and middle incomes.
- Calculating indexed benefits to account for inflation.
- Keeping your finances stable between tax seasons.
The February 2026 payment is especially important because it comes early in the year, when many Canadians have to pay for things like winter and holiday expenses.
For those who qualify, the payment is coming at a time when extra money can help with short-term financial problems.
Who Can Get the $670 Federal Credit?
In most cases, you can get federal credits if you meet certain income, residency, and tax requirements. CRA assessments confirm specific eligibility details, but the general framework follows the same rules every time.
1. Living in Canada
To be eligible, people must live in Canada for tax purposes. This includes Canadian citizens, permanent residents, and some temporary residents who meet the residency requirements set by federal tax law.
2. Submitted 2024 Tax Return
The most recent tax return on file will determine who can get payments in February 2026. That usually means the tax return for 2024 that was filed during the 2025 tax season.
You can’t be checked for eligibility if you haven’t filed your taxes for 2024. Even if you didn’t make much money, you still need to file.
3. Requirements for Income Threshold
Federal credits are based on income. This means:
- People with lower incomes may be able to get the full $670.
- People who make a moderate amount of money may get less.
- People with higher incomes might not even be able to apply.
The net income you report on your tax return is used to figure out income thresholds. Once your tax return is processed, the CRA automatically figures out how much credit you can get.
4. Your Family Situation
Your marital status and the number of children you have who depend on you may change how some credits are calculated. The $670 amount is often mentioned, but some people may get more or less depending on how many people live in their household.
When will the payment for February 2026 come?
The CRA usually has a set payment schedule for federal credits. The February 2026 credit should be deposited in the middle of the month, but the exact date will depend on the official federal payment calendar.
People who sign up for direct deposit will have their payments go directly into the bank account they used to sign up. People who don’t sign up for direct deposit will get a check in the mail, which may take longer to get there.
To avoid delays:
- Make sure that your bank information is correct.
- Make sure your mailing address is correct.
- Look at your CRA My Account to see if there are any new payments.
How Direct Deposit Works
Direct deposit is the quickest and safest way to get money from the government. Once you sign up, the CRA puts eligible credits directly into your bank account.
Some benefits of direct deposit are:
- Getting money faster.
- Less likely to lose or be late on checks.
- Confirmation right away in your banking app or statement.
You can change your banking information through your CRA online account or through your bank if you are not signed up for direct deposit.
It’s very important to make sure your deposit information is correct because payments will be sent automatically to people who qualify.
How to Find Out If You’ve Been Paid
Canadians can use the CRA’s online portal to check their eligibility and payment information.
To see what your status is:
- Sign in to your CRA My Account.
- Go to the “Benefits and Credits” area.
- Look over your upcoming payment schedule.
- Make sure the deposit date and payment amount are correct.
If your account doesn’t show a scheduled payment and you think you should be getting one, you might need to check your tax filing status or income information.
What if you don’t get the money?
If you don’t see the $670 deposit you were expecting in February, think about doing the following:
1. Make sure you filed your tax return for 2024.
If you don’t file your taxes, you can’t get any benefits. You still have to file even if you didn’t make much money to be eligible.
2. Look at the income limits
Your credit may have been lowered or taken away if your income was higher than the eligibility limit.
3. Check the details of your direct deposit
If you give the wrong banking information, your payments or checks may be sent back.
4. Get in touch with CRA Support
If everything looks right and you haven’t received a payment, you can get more information by calling the CRA directly.
How to figure out the $670 credit
Income brackets and phased reductions are used to figure out federal credits.
For instance:
- Full benefit for income below a certain level.
- Slowly going down as income goes up.
- No benefit other than a maximum income limit.
The $670 amount is usually the most that people who meet the income requirements can get.
It’s important to be honest about your income because the CRA uses your tax return data to figure out if you qualify.
Is the $670 credit taxable?
Most of the time, federal tax credits that the CRA gives out are not taxable. This means:
- The payment does not add to your taxable income.
- You don’t have to report it as income on your next tax return.
- You can keep the whole amount that was deposited.
However, recipients should check official documents or talk to a tax professional to make sure that what they think is true is true for their own situation.
How This Credit Fits Into Canada’s Bigger Benefit System
The $670 credit for February 2026 is part of a bigger federal support system that includes:
- Tax credits for goods and services.
- Rebates related to the climate.
- Benefits for children and families.
- Extra money for seniors.
- Help for people with disabilities.
The government doesn’t make new benefit programs every year. Instead, it often changes and distributes credits through the current tax system.
The same system that handles these established programs will also handle payments, which will make things more efficient and automatically check eligibility.
Why It’s Important to File Taxes Even If You Don’t Make Money
A lot of Canadians think they don’t have to file taxes if they didn’t make much money or anything at all. But federal credits depend on filing taxes every year.
Filing makes sure:
- Being able to get credits and rebates.
- Checking income accurately.
- Access to government assistance programs will continue.
The CRA can’t tell if you qualify if you don’t file a return.
Important things Canadians should do now
As February 2026 gets closer, here are some useful tips to make sure you don’t miss your payment:
- Check to see if your 2024 tax return has been filed and reviewed.
- Check your eligibility by logging into your CRA account.
- If you need to, change your direct deposit information.
- Check that your mailing address is correct.
- Keep an eye on the official payment dates.
Being proactive makes sure that your payment gets to you on time.
Questions That Are Often Asked
Is this a new program for benefits?
No. It works through the CRA’s existing federal credit systems.
Do I have to apply?
Most of the time, you don’t need to fill out a separate application. When you file your taxes, the government automatically assesses you.
Can families get more than $670?
The total amount received may depend on the household’s situation and income level.
What if my pay changed in 2025?
Your 2024 tax return is usually what decides if you can get it in February 2026.
The planned $670 federal credit for February 2026 will be a big help for Canadians who qualify. Not everyone will get this payment, but if you meet the income and residency requirements, the CRA system will automatically process it.
Payment is coming for those who qualify, but they need to make sure they are eligible by filing their taxes correctly, giving the right banking information, and keeping their personal information up to date.
If you’ve filed your taxes and your account information is correct, you can expect the credit to come on time, according to the federal schedule. If you stay informed and take action, you won’t miss out on financial help that is meant to ease the ongoing cost of living.
