If you're scoping out ways to save or earn some extra cash during these financially tough times, it's recommended you verify your eligibility for various government programs, as qualifying for these initiatives can earn you hundreds of dollars more this winter season.
The Quebec government is disbursing several credits and benefits including the Quebec Pension Plan (QPP), Family Allowance, Shelter Allowance, Old Age Security and the Canada Workers' Benefit, to name a few.
Here's everything Quebec residents need to know regarding upcoming government payments:
Quebec Pension Plan (QPP)
The Québec Pension Plan (QPP) is a compulsory public insurance initiative created for individuals aged 18 and above, whose annual income from employment surpasses $3,500. Its main purpose is to provide essential financial protection to those who have worked in Québec and their dependents in the events of retirement, death, or disability, according to Revenu Quebec.
For those who collect monthly, the pension will generally be paid on the last working day of the month.
Payment Dates: November 30 and December 28, 2023
More about the Quebec Pension Plan (QPP)
Public Sectors Pension Plans (RREGOP, RRPE, etc.)
For Quebecers who opted for direct deposit, their public-sector retirement pension will be paid out monthly for the rest of their life on the 15th of each and every month. If the 15th is not a business day, the payment will reach your account on the business day closest to the 15th. If your pension is paid by cheque rather than direct deposit, it will be sent out no later than 48 hours before the 15th of the month.
Payment Date: December 15, 2023
More about Quebec's Public Sector Pension Plan
Family Allowance
Family Allowance is extended to qualifying families with one or more dependent children under the age of 18.
For children born in Québec, there is no requirement to submit a separate application for Family Allowance. Upon reporting your child's birth to the Directeur de l'état civil, they will automatically enroll your child with Retraite Québec. The initial Family Allowance payment will be processed within a maximum of 40 days following the Quebec government's receipt of the birth declaration for your child.
You will receive Family Allowance four times a year: that is in January, April, July and October, on the scheduled payment dates. You can also choose to be paid every month, which goes out on the first day of every month.
Payment Date: January 3, 2024
More about Family Allowance
Canada Child Benefit
The Canada child benefit is a tax-free monthly payment made to eligible families who require additional help with the cost of raising children. The benefit payment may also include the child disability benefit and any other related provincial or territorial financial programs, per the CRA.
To be eligible for the Canada child benefit, you must meet the following requirements:
- You live with a child under 18 years old
- You are primarily responsible for the care and upbringing of the child
- You are a resident of Canada for tax purposes
- You or your spouse or common-law partner is a Canadian citizen, a permanent resident, a protected person or registered under the Indian Act
So, just how much can you receive from the Canada child benefit? The maximum amount for each child is $619.75 per month for kids under six years old and $522.91 per month for kids between 6 and 17 years old. The benefit is calculated based on your income.
Payment Dates: November 20 and December 13, 2023
More about the Canada Child Benefit
Advanced Canada Workers' Benefit (ACWB)
According to the Canada Revenue Agency, the Canada Workers Benefit is described as "a refundable tax credit designed to assist individuals and families with low incomes who are actively employed." Commencing in July 2023 and referencing the 2022 taxation year, the CWB will issue advance payments, amounting to 50% of the CWB, distributed in three installments through the Advanced Canada Workers Benefit (ACWB).
Anyone who received the CWB in 2022 will receive the advanced payments, there is no need to apply.
Payment Date: January 12, 2024
More about the Canada Workers' Benefit
Canada Pension Plan
Per the CRA, the Canada Pension Plan (CPP) is a taxable monthly federal benefit designed to replace a portion of your income when you retire. If you meet the eligibility criteria, you'll receive the CPP pension for the entirety of your retirement. To qualify, you must:
- be at least 60 years old, and
- have made at least one valid contribution to the CPP.
Legitimate contributions may originate from employment in Canada or from receiving credits following the conclusion of a relationship with a former spouse or common-law partner.
It's crucial to emphasize that Canadian Pension Plan (CPP) payments are not automatically granted; an application is necessary. It is advisable to submit your application well in advance of your intended pension commencement date.
The monthly amount you receive is influenced by your average earnings throughout your career, your contributions to the CPP, and the age at which you opt to initiate your CPP retirement pension. Your contributions to the CPP are linked to your income.
While the standard age for commencing pension receipt is 65, you have the flexibility to commence as early as age 60 or delay until age 70, based on your preference.
Payment Date: November 28, 2023
More about the Canada Pension Plan
Old Age Security
The Government of Canada provides a monthly payment called the Old Age Security (OAS) pension for individuals aged 65 and above.
Typically, Service Canada will automatically register you for the OAS pension and inform you of the enrollment. However, if there is inadequate information for automatic enrollment, you may need to submit an application. It's important to note that your work history does not affect your eligibility, and you can receive OAS whether or not you have a work history, are currently employed, or have never worked.
If you live in Canada, you must:
- be 65 years old or older,
- be a Canadian citizen or a legal resident when your OAS pension application is approved, and
- have lived in Canada for at least 10 years since the age of 18.
If you live outside of Canada, you must:
- be 65 years old or older,
- have been a Canadian citizen or legal resident of Canada on the day before you left Canada, and
- have resided in Canada for at least 20 years since the age of 18.
Payment Date: November 28, 2023
More about Old Age Security
Shelter Allowance Program
The Shelter Allowance Program aims to help low-income individuals and families in Quebec who find themselves spending too much of their income on housing. For the period from October 1, 2023, to September 30, 2024, the program provides $100, $150 or $170 in financial assistance per month to eligible individuals.
Shelter Allowance payments are usually sent by cheque or direct deposit within the first five days of each month.
More about the Shelter Allowance Program
Solidarity Tax Credit
The solidarity tax credit is a refundable tax credit designed for low-income families. The calculation of this credit for the period spanning July 2023 to June 2024 is contingent upon your financial situation as of December 31, 2022.
The frequency of payment is determined by the credited amount. If the credit is $240 or less, it will be disbursed as a lump sum in July 2023. For credits exceeding $241 but falling below $799, they will be distributed in quarterly installments in July and October 2023, as well as January and April 2024.
If the credit is $800 or more, it will be paid in monthly instalments, from July 2023 to June 2024. To qualify for this credit, you need to file your income tax return and fulfill all the relevant criteria, per Revenu Québec
Payment Date: December 5, 2023
More about the Solidarity Tax Credit
This article's cover image was used for illustrative purposes only.
