Canadians can receive payments in April from these Government of Canada benefits and credits
You could be eligible for hundreds of dollars.
A pile of Canadian bank notes including $50, $20, $10 and $5 bills.
As inflation breaks new records and the cost of living is on the rise in Canada, it's no surprise many Canadians are looking for ways to save money, including help and/or guidance from government programs that offer financial aid to residents, particularly low-income Canadians.
With April fast approaching, it's important to brush up on any new or updated benefits and credits you could be eligible for from the Canada Revenue Agency (CRA).
Now, with tax season well underway in Canada, it's best to verify your eligibility for a handful of benefits that pay out in April, including the Canada Pension Plan, Canada Child Benefit, Ontario Trillium Benefit, and the Old Age Security payment, to name a few.
In doing so, you can be entitled to hundreds of dollars from the Government of Canada. Here are seven Canada benefits and credits to look out for:
Canada Pension Plan
According to the Canada Revenue Agency, the Canada Pension Plan is a taxable monthly benefit designed to replace a portion of your income upon retirement. To qualify, you must be at least 60 years old and have made at least one valid contribution to the CPP, which can stem from work in Canada or credits acquired through a former spouse or common-law partner.
As of 2024, the maximum monthly pension at age 65 is $1,364.60, while the average new retirement pension paid in October 2023 was $758.32. The actual amount you receive depends on your individual circumstances, up to the maximum allowable.
Payment Date: April 26, 2024
Old Age Security
The Old Age Security pension is a monthly payment for those aged 65 and above. Per the CRA, Canadians may automatically be enrolled based on available information. If not, it's suggested you apply directly with the federal government if you didn't get a letter after turning 64 years old.
Eligibility for residents includes being 65 or older, a Canadian citizen or legal resident, and residing in Canada for at least 10 years since age 18. For non-residents, requirements include being 65 or older, having been a Canadian citizen or legal resident before leaving, and residing in Canada for at least 20 years since age 18.
Payment Date: April 26, 2024
GST/HST credit
The GST/HST credit is a tax-free quarterly payment aiding individuals and families with low to modest incomes by offsetting their GST/HST expenses.
It may encompass provincial and territorial program payments. You're automatically assessed for this credit upon filing your taxes, the CRA indicates.
Payment Date: April 5, 2024
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly assistance for families with children under 18. It may incorporate the child disability benefit and related provincial/territorial programs.
Eligibility requires:
- Residency in Canada for tax purposes
- Primary responsibility for the child's care
- Living with a child under 18
Eligible individuals also include Canadian citizens, permanent residents, protected persons, temporary residents meeting specific criteria, or those registered under the Indian Act. Benefit recalculations occur annually based on adjusted family net income, with indexation to inflation.
Payment Date: April 19, 2024
Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit combines the Ontario Energy and Property Tax Credit, Northern Ontario Energy Credit, and Ontario Sales Tax Credit. Typically, the annual entitlement is divided into 12 monthly payments.
Your 2024 OTB payments, determined by your 2023 income tax return, are scheduled for the 10th of each month starting in July 2024, per the CRA.
Payment Date: April 10, 2024
Veteran Disability Pension
The Veteran Disability Pension is a benefit that provides tax-free financial assistance based on the degree of your condition's connection to your service and its severity, the CRA says.
Eligibility includes being a Canadian Armed Forces member or Veteran, a current or former RCMP member, a Second World War or Korean War Veteran, or a certain civilian who served in the Second World War.
You should apply if you have a diagnosed medical condition or disability linked to your service. If qualified, you'll receive either pain and suffering compensation or a disability pension, with potential increases for dependents.
Canadians can apply online via My VAC Account or submit the application form in person or by mail.
Payment Date: April 29, 2024
Canada Carbon Rebate (CCR)
Per the CRA, the Canada Carbon Rebate, formerly known as the Climate Action Incentive Payment, is a tax-free payment designed to assist eligible individuals and families in mitigating the cost of federal pollution pricing. It includes a basic amount and a supplement for residents of small and rural communities.
You qualify for the CCR if you meet all the following conditions at the beginning of the payment month:
- you are a resident of Canada in the month before the payment;
- you are a resident of one of the applicable CCR provinces: Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, or Saskatchewan
Payment Date: April 15, 2024
This article's cover image was used for illustrative purposes only.
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