Canadians Can Receive Over $2,400 From This Federal Benefit In 2024
Verify your eligibility this tax season.
A wallet holding Canadian bank notes including $5, $20, $50, and $100 bills.
The Government of Canada is extending a handful of federal benefits and credits to eligible Canadians throughout 2024 — the Canada Workers Benefit (CWB) included.
The refundable tax credit is available to "help individuals and families who are working and earning a low income," per the Canada Revenue Agency. The benefit is split into two parts: a basic amount and a disability supplement.
The Canada Workers Benefit can be claimed when you file your personal income tax return. Depending on a set of factors put in place by the CRA to calculate how much your CWB payments would amount to, Canadians can receive over $2,400.
Here's everything you need to know about the Canada Workers Benefit:
Who is eligible for Canada Workers Benefit?
Per the CRA, you may be entitled to the basic amount, the disability supplement portion, or both.
You are eligible for the basic amount of the CWB if you meet all the following conditions:
- Earn working income and your net income is below the net income level set for your province or territory of residence
- A resident of Canada throughout the year
- 19 years of age or older on December 31, or you live with your spouse or common-law partner or your child
You are not eligible for the CBW if any of these apply:
- Are enrolled as a full-time student at a designated educational institution for more than 13 weeks in the year unless, on December 31, you have an eligible dependant
- Are confined to a prison or similar institution for at least 90 days during the year
- Do not have to pay tax in Canada because you are an officer or servant of another country, such as a diplomat, or you are a family member or employee of that person
As for the disability supplement, you may be eligible if you meet all of the following conditions:
- You are eligible for the disability tax credit and have an approved Form T2201, Disability Tax Credit Certificate, on file with the CRA
- Your net income is below the net income level set for your province or territory of residence
How much can you get from the Canada Workers Benefit?
Per the CRA, the maximum basic amount for the CWB for single individuals is $1,428. The amount is gradually reduced if your adjusted net income is more than $23,495. No basic amount is paid if your adjusted net income is more than $33,015.
The maximum basic amount for the CWB for families is $2,461. The amount is gradually reduced if your adjusted family net income is more than $26,805. No basic amount is paid if your adjusted family net income is more than $43,212.
The disability supplement maximum is $737 for both single individuals and families. For single individuals, the supplement decreases gradually if the adjusted net income exceeds $33,018, and no supplement is paid if the income exceeds $37,932. For families, the supplement is reduced if the adjusted family net income surpasses $43,210.
More on Canada Workers Benefit payment amounts
When are the Canada Workers Benefit payment dates?
The Canada Workers Benefit is sent out in three separate payments throughout 2024, the dates are as follows:
- January 12, 2024
- July 12, 2024
- October 11, 2024
This article's cover image was used for illustrative purposes only.
- Canada Workers Benefit Payments Go Out Soon & You Can Receive Over $2,400 ›
- Quebec Residents Can Receive Payments From These Government Benefits & Credits In February ›
- Canadians Can Receive Payments From These Government Benefits & Credits In February ›
- Quebec Minimum Wage Will Increase On May 1 - MTL Blog ›
- Canadians Can Receive Over $7,000 From This Federal Benefit In 2024 - MTL Blog ›
- Canadians can soon receive up to $2,400 from this new federal benefit - MTL Blog ›
