In November 2024, Ontario residents will receive two important benefit payments from the Canada Revenue Agency (CRA): the Canada Child Benefit (CCB) and the Ontario Trillium Benefit (OTB). These benefits are crucial for helping eligible residents, particularly low- and moderate-income households, manage rising living costs and essential expenses.
Importance of the Benefits
With the increasing costs of living, the CCB and OTB serve as vital sources of support for Ontario families. The CCB helps cover necessary expenses related to raising children, such as school supplies, food, and clothing. Meanwhile, the OTB provides relief from sales tax, property tax, and energy expenses, enabling households to better manage their monthly budgets. Notably, Canada also recognizes the contributions of eligible temporary residents by allowing them access to these benefits, supporting their integration into Canadian society.
Overview of the Benefits
In this article, we will explore each benefit’s purpose, eligibility requirements, maximum payment amounts, payment dates, and guidelines for temporary residents in Canada.
1. Canada Child Benefit (CCB)
Eligibility for CCB
To qualify for the CCB, applicants must meet the following criteria:
- Residency: Must live in Canada and hold Canadian citizenship, permanent residency, or qualifying immigration status.
- Primary Caregiver: Typically, only the primary caregiver of the child can apply, usually a parent.
- Income-Based: Payments are income-tested; families with lower incomes receive higher amounts.
Temporary Residents may qualify if:
- They have lived in Canada for at least 18 months on valid status.
- Their permit does not restrict access to social benefits.
Maximum Payment Amount for Canada Child Benefit in 2024
- Children under 6 years: Up to $7,787 annually per child.
- Children aged 6 to 17: Up to $6,570 annually per child.
Upcoming Payment Date for CCB in November 2024
The CCB is issued monthly, with the November payment scheduled for November 20.
2. Ontario Trillium Benefit (OTB)
Eligibility for OTB
Eligibility for the OTB is based on:
- Residency: Applicants must be Ontario residents as of December 31 of the previous tax year.
- Income Limit: It is income-tested; higher-income individuals may receive reduced payments.
- Filing a Tax Return: Eligibility depends on filing a tax return for the previous year.
Temporary Residents can qualify if:
- They reside in Ontario on December 31 of the previous tax year and file their tax return by the deadline.
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Maximum Payment Amount for OTB in 2024
- Ontario Sales Tax Credit: Up to $360 per adult or child annually.
- Ontario Energy and Property Tax Credit: Maximum is $1,248 for non-seniors and $1,421 for seniors.
- Northern Ontario Energy Credit: Maximum is $180 for singles and $277 for families annually.
Upcoming Payment Date for OTB in November 2024
Eligible Ontario residents can expect their next OTB payment on November 8, 2024.