Getting extra money from the Canadian government provides various benefits and credits to support its residents. These payments are significant in helping individuals and families manage the high cost of living, housing, and other expenses.
There are payments such as:
- Goods and services tax/harmonised sales tax (GST/HST) credit; single can receive up to $496, families will get up to $650, and $ 171 for children under the age of 19.
- Canada Child Benefit (CCB)
- Canada Workers Benefit (CWB)
In addition, pollution pricing rebates, among others.
Keep scrolling for more details about Canadian getting extra money 2024 and what other benefits are available for Canadians in 2024.
Canada Benefit Payment 2024
As we step into a new year, let’s think about the future and the money challenges ahead. Before we discuss the Canada Benefit Payment in 2024, it’s important to know that different benefits will be given on different dates. Starting January 2024, Canadians can apply for benefits like: employment insurance benefits, housing assistance, disability benefits, public pensions, among others. All qualified Canada citizens benefit from these financial aids as monthly compensation via direct deposit.
This post dives deep into each benefit the CRA offers, and all of them will still be around in 2024. It’s essential to understand these benefits and how they can help you. So, if you want to know more about the Canada Benefit Payment in 2024, take a moment to read this post.
Are Canadian Getting Extra Money 2024?
Yes, Canadians are eligible to receive extra money from the Canadian government in 2024 through various employment insurance benefits, Public Pensions, disability benefits, among others. Canadian citizens struggling to pay groceries, rent, among other obligations will be getting extra money in 2024. Recipients who can qualify are advised to check their eligibility status 2024.
What Is the Canadian Benefit for 2024?
In 2024, Canadians will be getting extra money on top of their eligible benefits. Canada Government is offering several advantages to its citizens to improve Canadians health care, housing, infrastructure, education, insurance, among others.
For instance, eligible single Canadians can receive up to $1,428, while families get up to $2,461. The Canada Child Benefit for qualified children aged 6 years will receive annual financial assistance of up to $7,437 and between the ages of 7-17 years will get annual aid of up to $6,275. In addition, $737 disability supplement depending on recipients’ annual income.
Furthermore, the Old Age Security (OAS) benefits for seniors have been increased, with retirees receiving an extra $1,580 every month. There’s also $1400 monthly extra OAS coming for seniors.
Related articles:
These measures aim to provide financial support to Canadians facing the challenges of the high cost of living, housing, and other expenses.
You might also like:
Please continue reading this article to learn what are the eligibility requirements for government credits and subsidies in Canada 2024, Canada benefits payment date, deadline for applying, and the maximum amount you can get.
What are the Eligibility Requirements for Government Credits and Subsidies, for a Canadian Getting Extra Money 2024?
The eligibility requirements for government credits and subsidies in Canada in 2024 vary depending on the benefit, credit, or subsidy. Eligibility is based on factors such as income levels, family size, marital status, and other criteria.
For instance;
- The Canada Workers Benefit (CWB) is a refundable tax credit that helps individuals and families with low income, and the benefit amount varies based on income levels and family status.
- The Old Age Security (OAS) benefits for seniors have been increased, with retirees receiving an extra $1,580 every month.
What Government Payments Come in January 2024?
The Canadian government offers its residents several benefits through Canada Revenue Agency. To qualify for the benefits, one must fulfil the specified criteria.
These benefits are paid to low- and modest-income families struggling with the high cost of living and also international students. These federal benefits get paid directly to the beneficiary’s account.
Payments Coming in January 2024 Canada
Here are the government payments coming January 2024:
- Canada Child Benefit (CCB): It’s a tax free monthly stipend benefit to help low families with the costs of raising children.
- Old Age Security (OAS): It’s a pension benefit to those aged 65 and more, the CRA payment rising to CAD 68,500 in 2024 from CAD 66,500. To get the OAS Payment 2024, one must have made contributions to the CRA Plan.
- Veteran Disability Pension: Aim to help disabled citizens improve their health.
- Advanced Canada Workers Benefit: It’s a refundable tax credit benefit to help low-income Canadians working families. It includes two payments: Supplementary and disability benefits.
- Canada Pension Plan (CPP): Monthly taxable Canada Pension Plan Payment from a certain portion of your salary during your working days. Given to 60 years old and more. In addition, you must have contributed to the CPP at least one contribution to be eligible.
- Climate Action Incentive Payment (CAIP): It’s a tax free payment to canadian citizens to help them balance federal pollution pricing expenses.
- GST/HST Credit: Tax-free quarterly Goods and Services Tax/Harmonized Sales Tax crest to assist financial low moderate income families reduce tax burden.
- Alberta Child and Family Benefit (ACWB):Benefit to help families with children under the age of 18.
- Ontario Trillium Benefit (OTB): It includes sales tax credit, energy and property tax credit.
Canada Benefits 2024 Payment Dates
Here are payment dates of major benefits offered by the Canadian Government via CRA.
| Benefit | Payment Dates |
| OAS | January 29, 2024February 27, 2024March 26, 2024April 26, 2024May 29, 2024June 26, 2024July 29, 2024August 28, 2024September 25, 2024October 29, 2024November 27, 2024December 20, 2024 |
| CCB | January 19, 2024February 20, 2024March 20, 2024April 19, 2024May 17, 2024June 20, 2024July 19, 2024August 20, 2024September 20, 2024October 18, 2024November 20, 2024December 13, 2024 |
| GST/HST | January 5, 2024April 5, 2024July 5, 2024October 4, 2024 |
| CPP | January 29, 2024February 27, 2024March 26, 2024April 26, 2024May 29, 2024June 26, 2024July 29, 2024August 28, 2024September 25, 2024October 29, 2024November 27, 2024December 20, 2024 |
| CWB | January 12, 2024July 12, 2024October 11, 2024 |
| CAIP | January 15, 2024April 15, 2024July 15, 2024October 15, 2024 |
| OTB | January 10, 2024February 9, 2024March 8, 2024April 10, 2024May 10, 2024June 10, 2024July 10, 2024August 9, 2024September 10, 2024October 10, 2024November 8, 2024December 10, 2 |
| ACFB | February 27, 2024May 27, 2024August 27, 2024November 27, 2024 |
Canada Benefits Payment Frequently Asked Questions
Are there any benefits for unemployed in Canada?
Yes, from Employment and Social Development Canada. Unemployed workers receive temporary income from Employment Insurance (EI) before they get employed.
What is the new benefit for workers in Canada?
Advanced Canada Workers Benefit (ACWB) from CRA. Single workers can receive $1,518, and up to $2,616 for families.
Who is eligible for Canada benefits 2024?
- Be a Canada resident throughout the year
- Be 19 years and more on December 31st
- Earning working income below your set province threshold
How much benefits do you get in Canada?
55% of your average insurable weekly earnings. Starting January 1, 2024, Canadians will be getting extra money, maximum yearly insurable earnings is $63,200, that is $668 per week.
