The Canada Revenue Agency (CRA) will be issuing to eligible Canadians the long-promised one-time grocery rebate payments on July 5.

Unveiled as part of the 2023 federal budget, the one-time benefit passed by Parliament will be deposited in Canadians' bank accounts on Wednesday  through Canada's GST/HST tax credit system, alongside the regular quarterly GST/HST payments.

This rebate. which would be equivalent to double the GST/HST credit amount received in January, can be expected by eligible individuals and families who have received a GST/HST credit payment for January 2023, and have filed their latest tax returns.

The amount expected by the eligible candidates is calculated based on each family's situation and adjusted family net income.

The rebate, coming with a price tag of $2.5 billion for the federal government, was unveiled as a measure to help Canadians offset higher grocery bills due to inflation.

(Reporting by Asha Bajaj)