Photo via Andriy R on Shutterstock
Every year, Canadians receive benefit payments after filing their income taxes or applying for them. Those interested can take a look as to what to expect when the next round of Canada benefit payment dates for 2024, are released this spring.
Since most of them are automatically applied, we often forget we’re even getting extra money. And if you happened to check your bank account, you may have even received a couple of these benefit payments already.
These are usually deposited via direct deposit but if you don’t have that set up, you’ll get them in the form of a cheque.
Not everyone is eligible for every benefit. But if you’re like us and would love to know when you’ll be receiving these benefit payments in 2024, you’ve come to the right place.
Here’s a breakdown of every benefit available to Canadians and when to expect them this spring:
The GST/HST credit is “a tax-free quarterly payment that helps individuals and families with low and modest incomes offset the GST or HST that they pay,” according to the Canadian government. Canadians are automatically considered for the GST/HST credit when taxes are filed. For more information, click here.
According to the federal government, the Canada Carbon Rebate is how they return “the proceeds of carbon pollution pricing to families in provinces where the federal backstop system applies.” Residents in Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador will receive their increased rebates this April.
The Canada child benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18. This is a benefit you apply for and may include the child disability benefit, including any related provincial and territorial programs, according to the government.
The Canada Pension Plan is a monthly, taxable benefit that replaces part of your income when you retire. To qualify, you must be at least 60 years old and have made at least one valid contribution to the CPP.
This benefit is a combination of the Ontario energy and property tax credit, Northern Ontario energy credit, and Ontario sales tax credit. It is usually divided by 12 and the payments are issued monthly. The amount you receive is based on your income tax and benefit return. Ontario only.
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