Hey Ontario! Just before the year ends, the last round of Canada benefit payments will go out, and considering it’s the holiday season, it may help lessen the blow on your wallet.
Every year, Canadians receive benefit payments after filing their income taxes or applying for them.
Since most of them are automatically applied, we sometimes 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 in the last few months.
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 this payment before the end of 2023, you’ve come to the right place.
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According to the Canadian government, the last payment Ontarians are to receive will be the Ontario Trillium Benefit aka OTB.
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.
You can expect this in your bank account or by mail, on December 8th, 2023.
And for those expecting their Canada Child Benefit payments and/or the Canada Pension plan, you can expect those on December 13th and December 8th, respectively.
If you don’t notice a payment issued to you by the specified date, the Canada Revenue Agency asks that you wait 10 days before contacting the office, or five if you’re expecting the CCB.
Keep an eye out for your expected payment this week.
