Quebec residents can receive payments from these government benefits and credits in August
As August rolls around, so does a slew of new government benefits and credits being sent out by Revenu Quebec and the Canada Revenue Agency.
Given the rise in inflation and escalating cost of living in Quebec, many residents, particularly low-income families, are seeking additional income opportunities, whether through employment or financial aid programs offered by the Canadian and Quebec governments.
Among the benefits and credits scheduled for distribution in July are the Canada Child Benefit, Quebec Pension Plan, and Quebec public-sector pensions. It's important to confirm your eligibility for these benefits and credits, as you may be eligible for thousands of dollars.
Here's everything you need to know:
Quebec Pension Plan
The Québec Pension Plan is a compulsory public insurance program for residents aged 18 and over who earn more than $3,500 per year, according to Revenu Québec.
This program is designed to provide crucial financial support to individuals who have worked in Québec and their families in the event of retirement, death, or disability. It functions similarly to the Canada Pension Plan found in other parts of Canada and includes both a base plan and an additional plan that was introduced in 2019.
Payment Date: August 30, 2024
Public-sector Pension Plans (RREGOP, PPMP)
The Government and Public Employees Retirement Plan (RREGOP), mandates contributions from regular and casual, full-time and part-time employees in the education, public service, and health and social services sectors until they accrue a maximum of 40 years of credited service or until December 30 of the year they turn 69.
For those who collect a pension and opt for direct deposit, the public-sector retirement pension will be paid on the 15th of each month for the rest of your life, per Retraite Quebec.
If the 15th falls on a weekend or statutory holiday, your pension will be paid on the preceding business day. If you opted for payment by cheque, the cheque will be issued no later than 48 hours before that date.
Payment Date: August 15, 2024
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly payment provided to eligible families to assist with the costs associated with raising children under 18 years old. This benefit may also include the Child Disability Benefit and contributions from provincial and territorial programs.
Families with adjusted family net income (AFNI) below $36,502 receive the maximum benefit amount per child, which is $7,787 annually ($648.91 per month) for children under 6 years old, and $6,570 annually ($547.50 per month) for children aged 6 to 17 years old.
Payment Date: July 19, 2024
Canada Workers Benefit (CWB)
According to the CRA, the Canada Workers Benefit is a refundable tax credit aimed at supporting individuals and families with low incomes who are employed. It comprises a basic amount and a disability supplement, both claimable when filing income tax returns.
Eligible recipients may receive advance payments of up to 50% of the CWB through the Advanced Canada Workers Benefit (ACWB), issued automatically in three installments without requiring an application. This initiative is designed to provide immediate financial relief, assisting workers in managing the increasing cost of living.
Payment Date: July 12, 2024
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