As the Canada Revenue Agency gets ready to give out a $670 credit in March 2026, a new round of federal financial help is getting a lot of attention. Many Canadians are asking the same questions because the cost of living is still going up and their household budgets are feeling the strain. Who is eligible? When will the deposit arrive? How do you find out your status?
The payment is part of a federal credit system that has been in place for a long time, but the March 2026 distribution is being closely watched. For Canadians who qualify, payment will be made by direct deposit or a check in the mail, depending on how the CRA has set up their tax information.
Here is a full explanation of the $670 federal credit, 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 set to happen in March 2026?
The $670 is a federal credit from the Canada Revenue Agency that is part of ongoing cost-of-living relief measures built into the tax system. This credit does not stand alone as a new benefit; instead, it works through the CRA’s system for distributing income-tested supports.
Federal credits are meant to help people and families directly with money if their income is below a certain level. Most of the time, they are based on the most recent tax return.
The $670 payment for March 2026 is based on a benefit amount that takes into account factors like income level, residency status, and filing taxes on time. For a lot of people, payment will happen automatically if all the necessary information is current.
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 many important reasons for federal credits:
- Giving direct cash help 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 payment in March 2026 is especially important because it comes early in the year, when many Canadians have to pay for things like holiday expenses and winter-related costs.
For those who qualify, payment is coming at a time when extra money can help with short-term financial problems.
Who Can Get the $670 Federal Credit?
Usually, you can get federal credits if you meet certain income, residency, and tax compliance requirements. CRA assessments confirm specific eligibility details, but the general framework follows the same rules every time.
- 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. - Sent in a tax return for 2024
The most recent tax return on file will determine who is eligible for payments in March 2026. That usually means the 2024 tax return that was filed in 2025.
You can’t be sure if you’re eligible if you haven’t filed your 2024 taxes yet. Even if you didn’t make much money, you still need to file.
- Requirements for Income Threshold
You have to prove that you have a certain amount of money to get federal credits. This means:
- People with lower incomes may be able to get the whole $670.
- People with moderate incomes may get less.
- People with higher incomes may not even be able to apply.
Net income from 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 get.
- Family Situation
Your marital status and number of dependent children may affect how some credits are calculated. The $670 amount is often used as a reference point, but some people may get more or less depending on how many people live in their home.
When will the payment for March 2026 be made?
The CRA usually has a set payment schedule for federal credits. The March 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 use direct deposit will have their payments go straight into the bank account they signed up for. People who don’t sign up for direct deposit will get a check in the mail, which may take longer to get there.
To keep things moving:
- Make sure your bank information is correct.
- Make sure your mailing address is correct.
- Look in your CRA My Account for updates on payments.
How Direct Deposit Works
The safest and quickest way to get federal payments is through direct deposit. Once you sign up, the CRA puts eligible credits directly into your bank account.
Some benefits of direct deposit are:
- Access to money more quickly.
- Less likely to lose or be late with checks.
- You will get immediate confirmation in your banking app or statement.
If you don’t have direct deposit, you can change your banking information through your CRA online account or your bank.
Since eligible recipients will automatically receive payment, it is very important to make sure your deposit information is correct.
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 how you’re doing:
- Sign in to your CRA My Account.
- Go to the “Benefits and Credits” part.
- Look over your payment schedule for the next few months.
- Check that the payment amount and deposit date are correct.
You might need to check your tax filing status or income information if your account doesn’t show a scheduled payment and you think you qualify.
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What if you don’t get the money?
- Make sure you filed your 2024 tax return.
If you don’t file a tax return, you can’t figure out how much you owe. You still have to file even if your income was very low in order to be eligible. - Look at the income limits
If your income was higher than the eligibility limit, your credit may have been lowered or taken away. - Check the details of the direct deposit
If you give the wrong banking information, your payments or checks may be sent back. - Get in touch with CRA Support
If everything looks right and you haven’t gotten 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.
- Gradual decrease as income goes up.
- No benefit other than a maximum income limit.
The $670 amount is usually the most that people who qualify and have the right income can get.
It is very important to report your income correctly 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 given out by the CRA 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 get to keep the full amount that was deposited.
But recipients should check official documents or talk to a tax professional to make sure it applies to their situation.
How This Credit Works with Other Benefits in Canada
The $670 credit for March 2026 is part of a bigger system of federal support that includes:
- Credits for the Goods and Services Tax.
- Rebates related to climate.
- Benefits for families and children.
- Extra money for seniors.
- Help for people with disabilities.
Instead of making new benefit programs every year, the government often changes and gives out credits through the current tax system.
The same system that handles these established programs will handle payments, which will make sure that everything runs smoothly and that eligibility is checked automatically.
Even if you don’t make any money, it’s important to file your taxes.
Many 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 that:
- Being able to get credits and rebates.
- Checking income accurately.
- Still being able to use government assistance programs.
The CRA can’t tell if you qualify unless you file a return.
Important Things Canadians Should Do Right Now
As March 2026 gets closer, here are some useful tips to make sure you don’t miss your payment:
- Make sure your 2024 tax return has been filed and checked.
- To check your eligibility, log into your CRA account.
- If you need to, change your direct deposit information.
- Check to make sure your mailing address is correct.
- Keep an eye on the official payment dates.
Being proactive makes sure that when payment is due, it 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 tax return, an automatic assessment happens.
Can families get more than $670?
The total amounts received may depend on the household’s situation and income level.
What if my income went up in 2025?
Your 2024 tax return is usually what determines whether you can get the money in March 2026.
The planned $670 federal credit for March 2026 is 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 for you.
Payment is on the way for those who meet the requirements, but making sure they are eligible depends on filing their taxes correctly, having the right banking information, and keeping their personal information up to date.
If you file your taxes and your account information is correct, you should get the credit on the date set by the federal government. If you stay informed and take action, you won’t miss out on financial help that is meant to help with the ongoing cost of living.
