In November 2024, the Canada Revenue Agency (CRA) distributed key benefit payments to provide financial support to Canadians. These payments aim to help families, low-income workers, and individuals manage rising living costs, inflation, and specific regional challenges, including carbon pricing. Programs such as the Canada Child Benefit (CCB), the Canada Workers Benefit (CWB), and the GST/HST Credit deliver targeted assistance to those who need it most.
Payment Programs and November 2024 Schedule
Canada Child Benefit (CCB)
The Canada Child Benefit offers tax-free payments to families with children under 18, providing critical financial support for expenses like food, childcare, and clothing. The benefit is adjusted annually to account for inflation, ensuring families receive adequate assistance as living costs increase.
Payment Date: November 20, 2024
- For children under six: Up to $648.91 per month per child
- For children aged 6 to 17: Up to $547.50 per month per child
- Income adjustments: Families with net incomes over $36,502 receive reduced payments, tapering off as income rises.
GST/HST Credit
The GST/HST Credit provides quarterly tax-free payments to individuals and families with low to moderate incomes, helping them offset federal consumption taxes. This benefit ensures that essential goods remain affordable, particularly during times of economic uncertainty.
Next Payment Date: January 5, 2025
- Individuals without children: Up to $496 annually
- Couples or families with children: Up to $650 annually, plus additional payments for each dependent under 19
Canada Workers Benefit (CWB) – Advance Payments
The Canada Workers Benefit supports low-income workers by providing a portion of the benefit throughout the year, helping them manage ongoing financial needs rather than waiting for tax season.
Next Payment Date: January 10, 2025
- Base amount: Up to $1,428 annually for eligible workers
- Disability supplement: Additional $737 for individuals with disabilities
- Family payments: Increased amounts for families with children
- Eligibility: Applicants must be at least 19 years old (exceptions apply for those with a spouse or dependent) and have employment or self-employment income.
Canada Carbon Rebate (Climate Action Incentive Payment)
The Climate Action Incentive Payment (CAIP) offsets carbon pricing costs in provinces where federal carbon pricing applies. This quarterly payment helps households manage increased energy expenses.
Next Payment Date: January 15, 2025
- Single adult or first child in a single-parent household: $193–$250 per quarter, depending on the province
- Second adult or additional child: 50% of the first recipient’s payment
- Each additional child: 25% of the first recipient’s payment
Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit combines multiple programs, including the Ontario Energy and Property Tax Credit, Ontario Sales Tax Credit, and the Northern Ontario Energy Credit, into a single monthly payment for Ontario residents.
Payment Date: November 8, 2024
- Ontario Energy and Property Tax Credit: Up to $1,277 annually for non-seniors and $1,702 for seniors
- Ontario Sales Tax Credit: Up to $324 annually per person
- Northern Ontario Energy Credit: Up to $162 annually for individuals or $249 for families
- Eligibility: Payments are calculated based on the previous year’s tax returns and are issued via direct deposit or mailed cheques.
Conclusion
The CRA’s November 2024 benefit payments reflect the government’s commitment to supporting Canadians with tailored financial assistance. By addressing the diverse needs of families, workers, and individuals, these programs aim to reduce financial pressures and foster economic stability.
