Whether you're a parent with young children, married without kids, or a single person, money is up for grabs from benefits and credits that payout throughout the year.
That includes the climate action incentive payment, Canada Workers Benefit, GST/HST credit, Canada Child Benefit and more.
Now, here's what you need to know about federal benefits, credits and payments you could get money from in 2024.
GST/HST credit
Canada's goods and services tax/harmonized sales tax credit — which is also known as the GST/HST credit — is a tax-free quarterly payment that offsets the GST or HST that individuals and families with low and modest income pay.
It can also include payments from provincial and territorial programs.
With the GST/HST credit, you could get up to:
- $496 if you're single
- $650 if you're married or have a common-law partner
- $171 for each child under 19 years old
You don't need to apply for the GST/HST credit because you're automatically considered for it when you file your taxes each year.
You're eligible for this credit if you are a resident of Canada for income tax purposes at the beginning of the month the CRA makes a payment and are at least 19 years old in the month before the CRA makes a GST/HST credit payment.
GST/HST credit payment dates for 2024 are:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
Canada Child Benefit
The Canada Child Benefit (CCB) is a tax-free monthly payment that's made to eligible families to help with the cost of raising children who are under 18 years old.
You must meet all of the following conditions to get the CCB:
- you live with a child who is under 18 years old
- you are primarily responsible for the care and upbringing of the child
- you are a resident of Canada for tax purposes
- you or your spouse or common-law partner is a Canadian citizen, a permanent resident, a protected person, a temporary resident, or an individual who is registered or entitled to be registered under the Indian Act
The maximum CCB amount is $7,437 a year — which breaks down to $619.75 per month — for each child under six years old and $6,275 a year — which is $522.91 per month — for each child between 6 and 17 years old.
Money goes out every month and the Canada Child Benefit payment dates for 2024 are:
- January 19, 2024
- February 20, 2024
- March 20, 2024
- April 19, 2024
- May 17, 2024
- June 20, 2024
- July 19, 2024
- August 20, 2024
- September 20, 2024
- October 18, 2024
- November 20, 2024
- December 13, 2024
If you want to get the CCB, you need to apply through birth registration, online with CRA My Account, or by mail.
Advanced Canada Workers Benefit
The Canada Workers Benefit (CWB) is a refundable tax credit that's paid to individuals and families who are working and earning a low income.
Now, the CWB will provide advance payments equal to 50% of the CWB across three payments under the Advanced Canada Workers Benefit (ACWB).
You are eligible for the basic amount of the CWB if you:
- earn working income and your net income is below the net income level set for your province or territory of residence
- are a resident of Canada throughout the year
- are 19 years of age or older on December 31 or you live with your spouse or common-law partner or your child
The amount you can get from the CWB depends on your income and your province or territory of residence.
The maximum basic amount for the CWB is $1,428 for single individuals and $2,461 for families but the maximum basic CWB amount will vary for residents of Quebec, Nunavut and Alberta.
ACWB payment dates in 2024 are:
- January 12, 2024
- July 12, 2024
- October 11, 2024
Climate action incentive payment
The climate action incentive payment is a tax-free amount paid to help individuals and families offset the cost of federal pollution pricing.
It's available to residents of Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, Nova Scotia, P.E.I., and New Brunswick.
You are eligible for this credit if you're a resident of Canada for income tax purposes at the beginning of the month the CRA makes a payment.
Also, to be eligible, you must be a resident of a province that's part of the program on the first day of the payment month.
You don't need to apply to receive the climate action incentive payment, the CRA will determine your eligibility when you file your income tax return.
If you have a spouse or common-law partner, only one of you will get the payment for the family.
It will be paid to the spouse or common-law partner whose tax return is filed first.
You can also get more money from the climate action incentive payment if you have a child.
The Ontario climate action incentive payment 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
Manitoba's program provides an annual credit of:
- $528 for an individual
- $264 for a spouse or common-law partner
- $132 per child under 19
- $264 for the first child in a single-parent family
In Saskatchewan, the climate action incentive payment provides an annual credit of:
- $680 for an individual
- $340 for a spouse or common-law partner
- $170 per child under 19
- $340 for the first child in a single-parent family
The Alberta climate action incentive payment program gives out an annual credit of:
- $772 for an individual
- $386 for a spouse or common-law partner
- $193 per child under 19
- $386 for the first child in a single-parent family
Newfoundland and Labrador's program provides a quarterly credit of:
- $164 for an individual
- $82 for a spouse or common-law partner
- $41 per child under 19
- $82 for the first child in a single-parent family
In Nova Scotia, the climate action incentive payment gives a quarterly credit of:
- $124 for an individual
- $62 for a spouse or common-law partner
- $31 per child under 19
- $62 for the first child in a single-parent family
The P.E.I. program provides quarterly credit of:
- $120 for an individual
- $60 for a spouse or common-law partner
- $30 per child under 19
- $60 for the first child in a single-parent family
The New Brunswick climate action incentive payment program provides a quarterly credit of:
- $92 for an individual
- $46 for a spouse or common-law partner
- $23 per child under 19
- $46 for the first child in a single-parent family
If you're wondering when you'll get money from this credit, the climate action incentive payment dates in 2024 are:
- January 15, 2024
- April 15, 2024
- July 15, 2024
- October 15, 2024
When that date is on a Saturday, a Sunday, or a federal statutory holiday, the payment will be made on the last business day before the 15th.
Canada Learning Bond
The Canada Learning Bond (CLB) is money from the federal government that helps pay for post-secondary education.
It provides an initial payment of $500 into a Registered Education Savings Plan (RESP) and $100 for each subsequent year of eligibility, up to the year in which the beneficiary turns 15 years old.
There's a maximum of $2,000 that will be given by the federal government.
Parents don't have to make contributions to the RESP to get money from the CLB.
Eligibility for the CLB is based on family income. Also, the beneficiary must:
- be born on or after January 1, 2004
- be a resident of Canada
- have a valid Social Insurance Number
- be named as a beneficiary to an RESP
The CLB is retroactive which means it can be requested on behalf of an eligible child and that child can still receive the entire amount they would've been eligible for had they gotten it from birth.
Also, if you were eligible for the CLB as a child but didn't receive it, you can apply to get the money yourself when you turn 18 years old.
You have until the day before you turn 21 years old to apply to receive the CLB retroactively.
Canada Dental Benefit
The Canada Dental Benefit is a payment that helps lower dental costs for eligible families who earn less than $90,000 per year.
Parents and guardians can be eligible if they pay for dental care for a child under 12 years old who doesn't have access to a private dental insurance plan.
Depending on your adjusted family net income, a tax-free payment of $260, $390 or $650 is available for each eligible child.
You can apply for a maximum of two payments per child.
Applications are open until June 30, 2024, at 11:59 p.m. PT for:
- dental care received between July 1, 2023, and June 30, 2024
- one additional payment if you meet the criteria
Then, you can expect to receive payments by direct deposit after up to five business days or by mail after 10 business days.
This article's cover image was used for illustrative purposes only.
