Residents of Canada will receive another set of benefit payments in October 2024 from the Canada Revenue Agency (CRA). These payments are intended to help people cope with increasing living expenses and provide essential support for all Canadians, including temporary workers and newcomers. This month, five main benefits will be distributed, offering a wide range of assistance to households throughout Canada.
Table of Contents
Upcoming Payments to Support Canadians
The CRA is set to roll out these payments to assist Canadians facing higher living costs. Whether you are a citizen, permanent resident, or a temporary resident like a work permit holder or international student, these benefits aim to provide crucial financial help.
What Canadian Benefit Payments Are Scheduled for October 2024?
October is a significant month for benefit disbursements, providing essential financial assistance through various programs. Here’s a look at the key benefits available:
- Canada Child Benefit (CCB): Starting October 18, 2024, families can receive up to $7,787 annually for each child under 6, assisting families with children under 18.
- GST/HST Credit: Available on October 4, 2024, this credit offers $519 for individuals and $680 for couples, targeting low- and moderate-income households.
- Canada Workers Benefit (CWB): Set for October 11, 2024, this benefit provides $1,518 for individuals and $2,616 for families, aimed at low-income workers.
- Canada Carbon Rebate (CCR): Launching on October 15, 2024, this rebate varies by region and helps offset costs from federal pollution pricing.
- Ontario Trillium Benefit (OTB): Available on October 10, 2024, this benefit supports low- and moderate-income residents of Ontario with payments up to $1,013 per year.
Key Details on Each Benefit
1. Canada Child Benefit (CCB)
The CCB is crucial for families with children, offering monthly tax-free payments based on family income. Families can expect payments to decrease as income rises above $36,502.
2. Advanced Canada Workers Benefit (ACWB)
The ACWB provides financial support to low-income workers, encouraging job retention. Eligible individuals can receive up to $1,518, while families may receive up to $2,616.
3. GST/HST Credit
This quarterly payment helps low-income households with the Goods and Services Tax. Automatic payments are provided after tax filing, with individual benefits of up to $519 and $680 for couples.
4. Canada Carbon Rebate (CCR)
The CCR aids Canadians in regions with federal carbon pricing, supporting families in managing these additional costs. Payment amounts depend on provincial regulations.
5. Ontario Trillium Benefit (OTB)
The OTB combines multiple credits to help residents manage property taxes and energy costs, with eligibility extending to some temporary residents.
$300 Canada Federal Payment 2024 – Are You Jobless? When will it be paid?
CRA Notice of Assessment: What It Means & How to Read?
Canada FPT Deposit Payment Dates 2024: Who is Eligible & How to Apply?
$300 For Canadian Senior Citizens: What is & Who Qualifies Senior One-time Payment?
$1,200 for Low-Income Seniors: Fact Check, Eligibility, and Payment Dates
These benefits are crucial for supporting Canadians, particularly those facing financial hardships. Be sure to check your eligibility and stay informed about the payment dates to ensure you receive the benefits you deserve.
Leave a Reply