Canadians can receive payments from these 5 government benefits and credits in September
You could be eligible to receive thousands of dollars this month.
Canadian money (illustrative).
September is here, and that means it's time to check out the latest government benefits and credits you might be eligible for. With a fresh month comes new opportunities to receive financial help from the Government of Canada.
You could be entitled to receive thousands of dollars this month through various tax credits and benefit payments, so it's worth seeing if you qualify. Some of the programs that the feds are paying out in September include the Canada Pension Plan, Old Age Security, the Canada Child Benefit and more.
Here's a quick rundown of everything you need to know about the benefits available this month, including how much you can get and when the payments will be made.
Ontario Trillium Benefit
The Ontario Trillium Benefit (OTB) is a monthly payment that helps low- to moderate-income Ontario residents with their energy costs, property taxes and sales taxes.
The OTB is an amalgamation of three provincial credits: the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit and the Ontario Sales Tax Credit. The total amount you'll receive depends on which of the three credits you're eligible for, your income, and a few other factors.
To get the OTB, you need to have filed your 2023 income tax return. If you meet the eligibility requirements and have an income below the threshold, you should already have begun receiving payments on the 10th of each month starting in July 2024. If your total benefit for the year is $360 or less, you'll get all your money in one payment instead of monthly.
Next Payment Date: September 10, 2024
Canada Child Benefit
The Canada Child Benefit (CCB) is a tax-free payment designed to help families with the cost of raising a child. The Canada Revenue Agency sends this money every month to eligible families. The CCB can also include extra help for children with disabilities.
To get the CCB, you need to live with and take care of a child under 18. You must be a resident of Canada, and you or your partner need to meet specific requirements, like being a Canadian citizen or permanent resident.
How much you get depends on how many children you have, their ages, and your family's income. If your adjusted net income is less than $36,502, you'll get the maximum amount. For each child under 6, you could get up to $7,787 per year, and for children aged 6 to 17, up to $6,570 per year. Payments decrease as your income increases.
Next Payment Date: September 20, 2024
Canada Pension Plan
The Canada Pension Plan (CPP) retirement pension is a monthly payment that helps replace your income when you retire. It's a benefit you can receive for the rest of your life, as long as you qualify.
To be eligible for the CPP, you need to be at least 60 years old and have made at least one contribution to the CPP during your working years. Contributions come from work done in Canada or from credits transferred after a relationship ends.
The amount you receive each month depends on a few things, like when you start collecting your pension, how much you contributed, and your earnings throughout your life. The maximum monthly payment for 2024 at age 65 is $1,364.60, but the average payment is usually less. You can check how much you might get by logging into your My Service Canada Account.
Next Payment Date: September 25, 2024
Old Age Security
The Old Age Security (OAS) pension is a monthly payment you can get if you're 65 or older. It's designed to help seniors with their living expenses, and you can receive it even if you've never worked or are still working.
Most people are automatically enrolled in OAS, and Service Canada will let you know if you are. If you don't get a letter from them the month after you turn 64, you might need to apply.
To qualify for OAS, you need to be at least 65 years old and have lived in Canada for at least 10 years after turning 18. If you're living outside Canada, you need to have lived here for at least 20 years. The amount you'll receive is based on your age, how long you've lived in Canada and your income.
The maximum monthly payment for those aged 65 to 74 is $718.33, and for those 75 and over, it's $790.16. Payments are adjusted every three months to keep up with the cost of living. If you turn 75 after July 2022, your OAS payment will automatically increase by 10% the month after your birthday.
Next Payment Date: September 25, 2024
Veteran Disability Pension
The Veteran Disability Pension is a monthly payment given to veterans who have a disability related to their military service. To qualify, you need to be an eligible veteran of the Canadian Armed Forces, including those who served in the Second World War or the Korean War. Some current or former members of the Royal Canadian Mounted Police (RCMP) and some civilians who served in the Second World War may also be eligible.
To get the Veteran Disability Pension, you must have a diagnosed medical condition that is connected to your service. If you qualify, the pension provides a lifetime monthly benefit. If you have dependents, like a spouse or children, your payment will be higher to help support them too.
Next Payment Date: September 26, 2024
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