Benefit cheques that will be sent out in January and February of 2024

As the Christmas season approaches its end and holiday expenses become clearer, the anticipation of extra benefit cheques arriving can offer financial relief for Canadians.

Eligibility for these benefits or credits is determined by income, location, and the number of dependents, with the amount typically assessed through income tax filings.

Residents must file their taxes to receive these benefits from the Canada Revenue Agency (CRA) which are usually disbursed through cheques or direct deposit.

Here are the benefit cheques going out in January and February 2024:

Ontario Trillium Benefit

The Ontario Trillium Benefit—disbursed on a monthly basis— includes the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit. The payments are designed to help Ontario residents with low to moderate incomes, alleviating the impact of sales tax on energy and property taxes

The first two payments of 2024 should arrive on:

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• Jan. 10
• Feb. 9

GST/HST refund (goods and services tax/harmonized sales tax)

The GST/HST credit is a tax-free quarterly payment that helps individuals and families with low and modest incomes offset the GST or HST that they pay, according to the federal government. It may also include payments from provincial and territorial programs.

To be eligible for the tax credit, people must at least 19 years old and a Canadian resident. Those who are under 19 years old and live with a spouse or common law partner or who are a parent may be eligible.

In general, residents must make less than $50,000 to be eligible or less than $65,000 if you have children.

For individuals who are single, may receive an annual amount of $496.

Those who are married or have a common law partner are eligible to receive $650.

Parents with a child under the age of 19 could get $171 per child.

The first payment of 2024 is:

• Jan. 5.

Climate Action Incentive Payment

The Climate Action Incentive Payment (CAIP) also known as the carbon tax rebate, is a tax-free financial support aimed at assisting individuals and families in offsetting the expenses related to federal pollution pricing.

It is accessible to residents of Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, Nova Scotia and Prince Edward Island.

As of July 2022, the Government of Canada has shifted the payment method for CAIP from a refundable credit claimed annually on personal income tax returns, to quarterly tax-free payments through the benefit system.

Additionally, these payment amounts vary based on family situations and the province of residence.

The Ontario program provides an annual credit of :

• $488 for an individual
• $244 for a spouse or common-law partner
• $122 per child under 19
• $244 for the first child in a single-parent family

The payment date for the first two months of 2024 will be:

• Jan. 15.

Advanced Workers Benefit

This benefit helps lower-income households deal with rising inflation. It was enhanced in 2023 to expand eligibility.

Canada Workers Benefit will provide up to $2,616 total for an eligible family, and $1,518 total for eligible single workers, split between three advance payments this fiscal year (in July 2023, October 2023, and January 2024)

There is only one payment in the first quarter of 2024:

• Jan. 12.

Canada Child Benefit

The Canada Child Benefit is a monthly support for eligible families, helping with the costs of raising children under 18. It may also include the child disability benefit and align with relevant provincial and territorial programs.

Payment will be sent out to eligible families on:

• Jan. 19
• Feb. 20

Canada Pension Plan and Old Age Security

Canada Pension Plan benefits consist of monthly retirement pensions paid out to individuals aged 60 or older. These payments are not automatic, requiring individuals to submit an application. For the Old Age Security pension, Service Canada may automatically enroll individuals when they reach 65 years of age or older.

The first two payments of 2024 should arrive on

• Jan. 29.
• Feb. 27.

For more information on Canada Revenue benefit payments, see the website here.