All the Canadian Benefit cheque amounts for 2024

It has been a challenging year financially for many Canadians.

In the face of economic challenges stemming from record inflation, increased grocery expenses, and a rising cost of living, Canadians may find themselves actively seeking additional financial support to alleviate strains on their wallets.

In a recent update, the Federal Government disclosed the 2024 schedule for tax refunds and benefit cheque payments, including approximate amounts that vary based on factors such as income, family size, and age.

Canadian Pension Plan and Old Age Security

The Canadian Pension Plan and Old Age Security payments are sent out monthly. The dates for these payments are:

• January 29
• February 27
• March 26
• April 26
• May 29
• June 26
• July 29
• August 28
• September 25
• October 29
• November 27
• December 20

Residents who are over the age of 65, the maximum monthly payment for the Canadian Pension Plan (CPP) 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.

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 the child disability benefit along with relevant provincial and territorial programs.

The dates for the Child Tax Credit are:

• January 19
• February 20
• March 20
• April 19
• May 17
• June 20
• July 19
• August 20
• September 20
• October 18
• November 20
• December 13

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.

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 payment dates are as follows:

• January 10
• February 9
• March 8
• April 10
• May 10
• June 10
• July 10
• August 9
• September 10
• October 10
• November 8
• December 10

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

Climate Action Incentive

Other benefits, such as the GST/HST credit and the Climate Action Incentive Payment Credit, are sent out quarterly, each on separate days. The Climate Action Incentive serves as a carbon tax refund for taxpayers. Here are the dates when the payments will go out:

• January 15
• April 15
• July 15
• October 1

The annual payment for a family of four in Ontario could be up to $976.

GST/HST refund

The quarterly payment dates for the GST and HST refunds are:

• January 5, 2024
• April 5, 2024
• July 5, 2024
• October 4, 2024

For individuals who are single, may receive an annual amount of $496.

Those who are married or have a common law partner are eligible to receive $650.

Parents with a child under the age of 19 could get $171 per child.

These cheques can all be cashed at any bank in Canada.

— With files from Liam McConnell