More benefit cheques coming out in May in Ontario
Published May 9, 2024 at 2:56 pm
With spring in full bloom and summer on the horizon, many Canadians might be hoping for a little extra support to make the warmer months a little more manageable–especially those who are retired, earning less or caring for children.
Here’s a look at some cheques that will be hitting Ontarians’ bank accounts this month:
Canada Child Benefit (CCB)
This tax-free monthly benefit is available for eligible families supporting children under 18. The CCB may incorporate child disability benefits and relevant provincial and territorial programs.
The Ontario Child Benefit offers up to $1,607 annually per child, depending on an individual’s family net income and the number of children under 18 in their care.
The next payment will be issued on May 17.
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Ontario Works or emergency assistance
The Ontario government offers assistance to those facing financial difficulties who need support purchasing essentials such as food and shelter. Additionally, emergency assistance provides short-term financial support during crises or emergencies.
Eligibility is based on household income, ownership, and family size and only one application is needed per family. Applicants must be at least 16 years old, Ontario residents with Canadian status, and willing to participate in employment-related activities.
This month’s payment will be issued on May 31.
Canadian Pension Plan and Old Age Security
This benefit includes the Canada Pension Plan (CPP) retirement pension and disability, as well as children’s and survivor benefits. The maximum monthly payment for the Canadian Pension Plan (CPP) for residents over 65 is $1,306.57.
For the Old Age Security (OAS) pension, individuals aged 65 to 74 with an annual income of less than $142,609 are eligible for a monthly payment of up to $707.68. Those between the ages of 75 and over with an annual income of less than $148,179 may receive up to $778.45 per month.
The Canadian Pension Plan and Old Age Security payments are sent out monthly.
The next payment will be issued on May 29.
Ontario Trillium Benefit
The Ontario Trillium Benefit, disbursed monthly, includes the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit. Individuals between the ages of 18 and 64 could receive an annual amount of up to $1,194, and those 65 years old and over may receive up to $1,360 per year.
The next payment will be issued on May 10.
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