Millions of Canadians are a week away from receiving hundreds more dollars from the grocery rebate to help offset rising food costs.

Keep an eye on your bank account — theone-time grocery rebatewill be issued next Wednesday, July 5. It was introduced by the Liberals in the 2023 fiscal budget back in March as part of theCost of Living Relief Act, or Bill C-64.

The House of Commons unanimously approved the legislation in April, and it passed the Senate in early May.

The#GroceryRebatewill be automatically issued on July 5, making life more affordable for those who need it most. Here's what you need to know: (1/2)#CdnTaxpic.twitter.com/HJCs5qZx2d

— Canada Revenue Agency (@CanRevAgency)June 23, 2023

In an email to Daily Hive in May, the CRA said the grocery rebate payments would coincide with the next scheduled GST/HST credit payments.

"Pending the enactment of the proposed legislation, the Canada Revenue Agency expects to issue the Grocery rebate to eligible individuals in a few weeks, more precisely on July 5, 2023," said Sylvie Branch, spokesperson for the CRA.

Who's eligible for the grocery rebate, and how much will you get?

The government says it'll provide $2.5 billion in targeted inflation relief for low to modest-income Canadians and families.

"The Grocery Rebate will be double the amount of your GST/HST credit payment from January 2023," reads theGovernment of Canada site. "The amount is calculated based on your family situation in January 2023 and your 2021 adjusted family net income."

If you're single, you could receive a maximum payment of up to:

• $234 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

If you're married or have a common-law partner, you could receive up to:

• $306 (no children)
• $387 (with one child)
• $467 (with two children)
• $548 (with three children)
• $628 (with four children)

Seniors will get up to $225 extra on average.

The grocery rebate won't arrive as a separate deposit in your bank account. Instead, it'll be integrated with the regular GST/HST credit scheduled for July 5, says the CRA.

The plan was not well-received by Canadians when it was first announced. Manyslammed the so-called grocery rebate, calling it a "band-aid solution" that doesn't address the real issues.