Discover the new CRA boosted benefits for families and individuals. Learn about the increased support, eligibility criteria, and how to apply. Stay informed to maximize your financial benefits and support from the Canada Revenue Agency.
As of August 2024, there haven’t been any announcements of new boosted benefits introduced by the CRA.
However, it’s important to note that existing benefits might have seen adjustments due to factors like inflation or economic conditions.
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Potential Benefit Adjustments
While not new, these existing benefits might have experienced increases:
- Canada Child Benefit (CCB): This benefit is adjusted annually based on the cost of living.
- GST/HST Credit: This credit is also adjusted annually based on the cost of living.
- Canada Workers Benefit (CWB): This benefit may have seen adjustments based on economic conditions.
Canada Child Benefit (CCB) Increase
The CCB is adjusted annually to reflect the cost of living. For the 2024-2025 benefit year, families can receive:
- Up to $7,787 per child under age 6
- Up to $6,570 per child aged 6 through 17
This represents an increase of approximately 4.7% compared to the previous year.
Upcoming CCB Payment Date
The next CCB payment for 2024 is scheduled for August 16th, 2024.
GST/HST Credit Increase and Payment Dates
There has been an increase in the GST/HST credit for the 2023 base year (payment period from July 2024 to June 2025).
The exact amount of the increase depends on your family situation and income. However, you can generally expect to receive more than in previous years.
Upcoming GST/HST Credit Payment Dates
The GST/HST credit is paid out quarterly. For the 2023 base year, the payment dates are:
- July 5, 2024
- October 4, 2024
- January 3, 2025
- April 4, 2025
Canada Workers Benefit (CWB) Increase and Payment Dates
Yes, there was an increase in the Canada Workers Benefit (CWB) for the 2023 tax year. The CWB was enhanced to provide more support to low-income working individuals and families.
CWB Payment Dates
The CWB is typically paid as an advance and a final payment.
- Advance payments: These were made in July, October, and January 2024.
- Final payment: The remaining amount of the CWB is included in your tax refund when you file your income tax return.
Note: The specific amount of your CWB depends on your income and family situation.
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