Benefit cheques that are coming in the first quarter of 2025

With holiday spending on the rise, many residents may feel the pinch this season. However, a new round of government benefit cheques set to be distributed in the first three months of 2025 is expected to provide some much-needed relief for eligible individuals.

Canadian Pension Plan and Old Age Security

The Canadian retirement benefits system includes the Old Age Security pension, guaranteed income supplement, allowance, and allowance for the survivor, along with the Canadian Pension Plan.

• CPP: Residents over 65 are eligible for a maximum monthly payment of $1,306.57.
• OAS Pension: Individuals aged 65 to 74 with an annual income below $148,451 can receive up to $707.68 per month. Those 75 and over with an income below $154,196 may receive up to $880.44 monthly.

Eligible individuals should note that the OAS pension is reviewed quarterly—in January, April, July, and October—to reflect increases in the cost of living based on the Consumer Price Index. Importantly, payments will not decrease if the cost of living goes down.

The Canadian Pension Plan and Old Age Security payments are sent out monthly. Here are the upcoming payment dates:

• Jan. 29
• Feb. 26
• March 27

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:

• Jan. 20
• Feb. 20
• March 20

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.

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:

• Jan. 10
• Feb. 10
• March 10

Canada Carbon Rate

• Jan. 15

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:

• Jan. 3

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

Those 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.

Veteran disability pension

The veteran disability pension is a tax-free monthly payment that supports veterans and service members with service-related injuries or illnesses. Payment dates are as follows:

• Jan. 30
• Feb. 28
• March 27

Eligibility includes Canadian Armed Forces members, RCMP members, and Second World War or Korean War veterans, including some who served in the Second World War. Recipients can choose either Pain and Suffering Compensation—a lifetime monthly or lump sum payment—or a Disability Pension with added support for dependents.

Advanced Canada Workers Benefit

The Canada Workers Benefit (ACWB) is a refundable tax credit to help low-income individuals and families who are working. The benefit consists of a basic amount and a disability supplement. These are the payment dates:

• Jan. 10

As per the CRA’s website, the maximum basic amount for the benefit is $1,428 for single individuals and $2,461 for families. Single individuals with an adjusted net income exceeding $33,015 are not eligible for the basic amount, while for families, the adjusted net income is $43,212.

The disability supplement offers a maximum of $737 for singles and families. Ineligibility applies to individuals if their net income exceeds $37,932, and for families, it’s a household income between $48,124 and $53,037, depending on spouse eligibility.

Tax assistance for residents

Low-income seniors (65+ years) or individuals with disabilities who have owned and lived in their homes for at least one year can apply for an annual property tax rebate if they meet specific criteria.

To be eligible, every property owner must receive benefits under the Guaranteed Income Supplement (GIS) Program or the Ontario Disability Support Program (ODSP).

Alternatively, the spouse of an owner receiving GIS or ODSP benefits also qualifies.

Some instances include:

• If a married couple owns the property, either one must receive GIS or ODSP.
• If a married couple, along with a sibling, owns the property, the sibling and either spouse must receive GIS or ODSP.
• If two siblings own the property, both must receive GIS or ODSP.

Qualifying for the tax rebate automatically makes you eligible for a Stormwater Charge Subsidy.

Single-family homes receive subsidies on their Region of Peel water bill, while condominiums receive a mailed cheque from the City of Mississauga.

Applications must be submitted by December 31 of the current tax year, but submission is possible at any point in the year if all required documentation is available.