Starting in January 2025, people living in Canada, including newcomers and those here temporarily, will begin to receive a new set of payments from the Canada Revenue Agency (CRA). These payments are designed to help individuals and families manage the increasing costs of living.
According to Immigration News Canada (INC), the government has introduced five important benefit programs. It’s crucial for eligible individuals to understand how they can access these benefits.
Here’s a breakdown of each program:
- Canada Child Benefit (CCB):
- This program provides monthly payments that are tax-free for families with children under 18. Its purpose is to help with the financial burden of raising kids.
- To qualify, you need to be a resident of Canada. This includes temporary residents who have lived in the country for at least 18 consecutive months with a valid permit during the 19th month. Newcomers can apply for this benefit once they are settled.
- Families can receive up to $7,786.92 per year for each child under six and $6,570 for each child aged six to 17. The amount you get decreases if your family’s income goes above $36,502. Newcomers can apply online or by mail using a specific form (Form RC66).
- The next payments for CCB will be distributed on January 20th, February 19th, and March 18th, 2025.
- GST/HST Credit:
- This credit aims to assist low- to middle-income households with their Goods and Services Tax (GST) and Harmonized Sales Tax (HST) payments.
- You don’t need to apply separately for this; as long as you file your taxes, you will automatically be considered.
- Individuals may receive up to $519 a year, while couples can get up to $680. There’s also an additional $179 for each child under 19 years old. The next GST/HST payments will be made on January 3rd, April 4th, and July 5th, 2025.
- Advanced Canada Workers Benefit (ACWB):
- This is a refundable tax credit designed for low-income workers. It encourages people to join the workforce and assists those with limited income.
- Individuals can receive up to $1,518 annually, and families can get as much as $2,616, with the money divided into quarterly payments. You don’t need to apply separately; as long as you’re eligible based on your residency and income, you will receive this benefit. Upcoming payments for ACWB will be on January 10th, April 11th, and July 12th, 2025.
- Canada Carbon Rebate (CCR):
- Previously known as the Climate Action Incentive Payment (CAIP), this rebate helps to offset extra costs related to federal pollution pricing in specific provinces (Alberta, Saskatchewan, Manitoba, and Ontario).
- Families in Alberta can receive up to $1,544, while families in Ontario may get up to $976. The rebate payment dates are set for January 15th, April 15th, July 15th, and October 15th, 2025.
- Ontario Trillium Benefit (OTB):
- This benefit is for low- to moderate-income residents of Ontario, combining three types of credits: the Ontario Energy and Property Tax Credit, the Ontario Sales Tax Credit, and the Northern Ontario Energy Credit.
- You must be an Ontario resident and have filed your 2023 tax return to qualify. Temporary residents who meet the residency criteria can also apply.
- Payments vary based on your income and family size, but the maximum amount is $1,013 per year. The next OTB payment will be on January 10th, 2025.
How Can Temporary Residents and Newcomers Apply?
Temporary residents, such as international students and those on work permits, can qualify for these benefits if they meet certain residency and income requirements.
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To apply, they should:
- Set up a CRA My Account.
- File their taxes.
- Complete any required forms, such as Form RC66 for the Canada Child Benefit.
- Provide proof of residency, which can include documents like rental agreements or utility bills.
Upcoming Payment Dates in January 2025
Here are the scheduled payment dates for various benefits in January 2025:
- GST/HST Credit: January 3, 2025
- Canada Carbon Rebate: January 15, 2025
- Ontario Trillium Benefit: January 10, 2025
- Advanced Canada Workers Benefit: January 10, 2025
- Canada Child Benefit: January 20, 2025
For more detailed information about each benefit, individuals can visit the CRA website to ensure they receive all the financial support available to them.
