All the benefit cheques coming December 2024 in Ontario

As winter expenses and holiday costs start to add up in the coming months, Ontario residents can find some relief as a round of benefit cheques will be sent out to eligible recipients in December. Here are the scheduled payment dates for the final month of 2024:

Canadian Pension Plan and Old Age Security

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 between ages 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 final payment is:

• December 20

Child Tax Credit

The Canada Revenue Agency (CRA) oversees the tax-free monthly Child Tax Credit benefit, designed 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 years of age in their care.

The last payment date is:

• December 13

Ontario Trillium Benefit

The Ontario Trillium Benefit, disbursed on a monthly basis, includes the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit. The final installment is:

• December 10

Individuals between the ages of 18 and 64 could receive an annual amount of up to $1,194. Those 65 years old and over may receive up to $1,360 per year.

Carbon Pricing Refund

Small and medium-sized businesses in Canada are set to receive long-awaited carbon pricing refunds by the end of this year, according to Finance Minister Chrystia Freeland.

The federal government will distribute over $2.5 billion to approximately 600,000 businesses in December.

These payments will cover carbon price revenues collected from 2019 to 2024 in provinces where the federal fuel charge applies.

The amount each business receives will vary based on location and workforce size. Additionally, the government has finalized a 25 per cent tariff on certain Chinese-made aluminum and steel products, effective Oct. 22, while a 100 per cent tariff on Chinese-made electric vehicles came into on Oct. 20.

If you’ve missed some payments, here’s how you can get them

Residents who have applied for any of these benefits can check the status of their payments online in their “My Account” if they have created an account on the CRA website.

The Canadian government emphasizes that these cheques never expire.

The CRA cannot void the original cheque and reissue a new one unless requested by the account holder. This process involves verification, potentially requiring the completion of forms and the issuance of a replacement cheque if deemed necessary.

If you haven’t received a payment or missed some, the CRA suggests waiting ten days from the payment date before reaching out. Those without a CRA account or who do not have email notifications set up can check on uncashed cheques or missed payments by calling 1-800-959-8281.