This October, the Canada Revenue Agency (CRA) will make different forms of benefit payments to ease the lives of Canadian residents in handling their expenses. These benefits are priceless as they assist families, seniors, and low-income citizens in this country. When you have a right to receive a benefit, it is good to know how much you are entitled to, your eligibility, and crucial dates. Let’s break down the key payments, the amounts, eligibility, and important dates for October 2024.
Key CRA Benefit Payments for October 2024
Here’s a handy table of the CRA payments coming up in October 2024:
| Benefit Name | Payment Date | Maximum Amount | Eligibility |
|---|---|---|---|
| GST/HST Credit | October 4, 2024 | Up to $519 (single); $680 (couples) + $179 per child | Low- to moderate-income individuals |
| Ontario Trillium Benefit (OTB) | October 10, 2024 | Up to $1,013 annually | Ontario residents, based on income |
| Canada Workers Benefit (CWB) | October 11, 2024 | Up to $1,518 (individuals); $2,616 (families) annually | Low-income workers |
| Canada Carbon Rebate (CAIP) | October 15, 2024 | Varies by province | Residents in provinces with federal carbon pricing |
| Canada Child Benefit (CCB) | October 18, 2024 | Up to $7,787 per child annually (under 6 years) | Canadian families with children under 18 |
| Canada Pension Plan (CPP) | October 29, 2024 | Up to $1,364.60 monthly | Canadians aged 60+ who contributed to CPP |
| Old Age Security (OAS) | October 29, 2024 | Up to $800.44 monthly | Canadians aged 65+ with 10+ years in Canada |
Detailed Breakdown of October CRA Benefits
GST/HST Credit
- Payment Date: October 4, 2024
- Amount: Up to $519 for individuals, $680 for couples, plus $179 per child under 19.
- Eligibility: Available to low- and moderate-income households. This payment is automatically applied if you file your taxes in Canada, helping households cover the GST/HST expenses they incur over the year.
Ontario Trillium Benefit (OTB)
- Payment Date: October 10, 2024
- Amount: Up to $1,013 annually, depending on income and living costs in Ontario.
- Eligibility: Ontario residents who have filed their 2023 tax returns and meet the income requirements. The OTB helps residents cover sales taxes, energy costs, and property taxes.
Canada Workers Benefit (CWB)
- Payment Date: October 11, 2024
- Amount: Up to $1,518 for individuals and $2,616 for families annually, divided into three quarterly payments.
- Eligibility: For low-income workers over 19 or those supporting dependents. This benefit aims to support working Canadians with low incomes, helping them maintain a steady income.
Canada Carbon Rebate (CAIP)
- Payment Date: October 15, 2024
- Amount: Varies depending on the province, with higher amounts for families and those in rural or small communities.
- Eligibility: Residents in provinces with federal carbon pricing, like Alberta, Ontario, and Saskatchewan. The rebate offsets carbon taxes, supporting Canadians as they adapt to environmentally friendly policies.
Canada Child Benefit (CCB)
- Payment Date: October 18, 2024
- Amount: Up to $7,787 annually per child under 6 and $6,412 for children aged 6 to 17.
- Eligibility: For Canadian families with children under 18. Payment amounts are based on the family’s income, and the benefit supports families by covering expenses related to raising children.
Canada Pension Plan (CPP)
- Payment Date: October 29, 2024
- Amount: Up to $1,364.60 per month, based on contributions made while working.
- Eligibility: Canadians over 60 who contributed to the CPP. Payments provide financial support during retirement or in case of disability, with higher amounts for those who contributed more.
Old Age Security (OAS)
- Payment Date: October 29, 2024
- Amount: Up to $800.44 monthly for those over 75 and $727.67 for ages 65-74.
- Eligibility: Available to Canadians aged 65+ who have lived in Canada for at least 10 years since turning 18. OAS is a core income support for seniors, helping with daily expenses and reducing the financial burden in later years.
Important Tips for Receiving Your CRA Benefits
- File Your Taxes: Most benefits require that you file an income tax return to receive payments. Even if you don’t owe taxes, filing ensures eligibility.
- Use MyCRA Account: CRA’s online platform allows you to view payment dates, track applications, and update your information.
- Check Provincial Requirements: Some benefits, like the OTB and CAIP, depend on your location. Confirm your eligibility if you’ve moved recently.
Also Read:
- $628 Grocery Rebate in Canada 2024: Relief from Inflation
- $2385 One-Time Payment for Seniors in Canada: Eligibility & Payment Dates
- November CRA $2400 Direct Deposit for Canadian Seniors – Eligibility, Details & Fact Check
Frequently Asked Questions
1. What happens if I don’t receive my CRA payment on time?
CRA advises waiting at least 10 business days after the expected payment date before reaching out. If the delay persists, contact CRA through your MyCRA Account or call them directly.
2. Are these benefits taxable?
Some benefits, like CPP and OAS, are taxable income. However, credits like the GST/HST and CAIP are tax-free.
3. Do I need to apply for each benefit separately?
Most benefits are automatic if you meet the criteria and file taxes. For CPP, though, you must apply when you decide to start receiving it.
I Work as a Content Writer and I like Writing Articles
