Biggest benefit cheques in 2024 based on dollar amount in Canada

The distribution of monthly or quarterly benefit cheques can offer financial support for many Canadians and their families.

Individuals who qualify for multiple programs may receive even greater assistance through these benefits.

Here are some of the largest government payouts scheduled for 2024.

Canadian Pension Plan and Old Age Security

For the Old Age Security (OAS) pension, individuals between ages 65 to 74 with an annual income of less than $142,609 are eligible for a monthly payment of up to $707.68. Those between the ages of 75 and over with an annual income of less than $148,179 may receive up to $778.45 per month for a maximum annual amount $9,341.40.

Here are the scheduled distribution dates of CPP and OAS for 2024:

• January 29
• February 27
• March 26
• April 26
• May 29
• June 26
• July 29
• August 28
• September 25
• October 29
• November 27
• December 20

Child Tax Credit

The Canada Revenue Agency (CRA) oversees the tax-free monthly Child Tax Credit benefit, designed for eligible families supporting children under 18. The CCB may incorporate the child disability benefit along with relevant provincial and territorial programs.

The Ontario Child Benefit offers a maximum annual amount of up to $1,607 per child, based on the family’s net income and the number of children under 18 in their care.

Over the 18-years, the total could reach a maximum amount of $28,926 per child.

The first payment of 2024 was sent out on Jan. 19.

The remaining payment dates for the Child Tax Credit are:

• February 20
• March 20
• April 19
• May 17
• June 20
• July 19
• August 20
• September 20
• October 18
• November 20
• December 13

Climate Action Incentive

Climate Action Incentive Payment Credit, are sent out quarterly. The CAIP serves as a carbon tax refund for taxpayers.

The annual payment for a family of four in Ontario could be up to $976.

The first payment for 2024 was sent out on Jan. 15. Here are the remaining dates when the payments are expected to go out:

• April 15
• July 15
• October 1

GST/HST refund

The goods and services tax/harmonized sales tax (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. It may also include payments from provincial and territorial programs.

Individuals are automatically considered for the GST/HST credit when they file their taxes.

The first quarterly payment was sent out on Jan. 5. The remaining 2024 payment dates are as follows:

• April 5, 2024
• July 5, 2024
• October 4, 2024

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.

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.

Individual between the ages of 18 – 64 could receive an annual amount of up to $1,194. For those 65 years old and over may receive up to $1,360 per year. Additionally, these payments work out to approximately $100 per month.

The amount an individual receives is based on the previous year’s income tax return which runs from July to June 30. If the recipient’s payment is under $360, they will get the total amount in July.

If it’s over $360, individuals will automatically receive monthly payments. However, applicants can also opt for a lump sum at the end instead of 12 monthly payments, though they will have to make the request in advance before the new year.

The first payment for 2024 was sent out on Jan. 10. Here are the remaining dates that the payments are expected to go out:

• February 9
• March 8
• April 10
• May 10
• June 10
• July 10
• August 9
• September 10
• October 10
• November 8
• December 10