6 Federal Benefits, Credits & Payments You Can Get Money From In 2024 If You're Single
A lot of federal benefits and credits have payments going out to Canadians throughout the year.
You can get hundreds and even thousands of dollars from these benefits in 2024 if you're single!
That includes the climate action incentive payment, Advanced Canada Workers Benefit, Canada Child Benefit and more.
So, here's what you need to know about which benefits and credits are paying out, how much money you can get, and when the payment dates in 2024 are.
GST/HST credit
The GST/HST credit is a tax-free payment to help people with low and modest incomes offset the goods and services tax/harmonized sales tax that they pay.
Your GST/HST credit payments are based on:
- your adjusted family net income — the amount from line 23600 of your income tax return if you're single
- the number of children under 19 years old you have registered for the Canada Child Benefit and the GST/HST credit
You could receive up to $496 from this credit if you're single.
If you also have children, you could get up to $171 for each child under 19 years old.
The GST/HST credit payment dates this year are:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
Advanced Canada Workers Benefit
The Canada Workers Benefit (CWB) is a refundable tax credit to help individuals who are working and earning low income.
If you're entitled to receive the CWB, you will get up to 50% of your CWB in advanced payments through the Advanced Canada Workers Benefit (ACWB).
If you're entitled to receive the disability supplement, you'll also get 50% of your disability supplement amount with your advanced payments.
The maximum basic amount for the CWB is $1,428 for single individuals. That's gradually reduced if your adjusted net income is more than $23,495.
No basic amount is paid out if your adjusted net income is more than $33,015.
The maximum amount for the disability supplement is $737 for single individuals. That's gradually reduced if your adjusted net income is over $33,018.
No disability supplement is paid if your adjusted net income is more than $37,932.
The ACWB payment dates this year are:
- January 12, 2024
- July 12, 2024
- October 11, 2024
Canada Pension Plan
The Canada Pension Plan (CPP) retirement pension is a monthly, taxable benefit that replaces part of your income when you retire.
If you qualify, you'll get CPP payments for the rest of your life.
To qualify for CPP you must be at least 60 years old and have made at least one valid contribution to the CPP.
For 2024, the maximum monthly CPP amount you could receive if you start your pension at age 65 is $1,364.60.
The CPP payment dates for this year are:
- January 29, 2024
- February 27, 2024
- March 26, 2024
- April 26, 2024
- May 29, 2024
- June 26, 2024
- July 29, 2024
- August 28, 2024
- September 25, 2024
- October 29, 2024
- November 27, 2024
- December 20, 2024
Old Age Security
The Old Age Security (OAS) pension is a monthly payment you can get if you're 65 years of age and older.
In most cases, Service Canada will automatically enroll you for OAS and you don't have to apply.
Maximum monthly payment amounts for OAS are $713.34 if you're 65 to 74 years old and $784.67 if you're 75 years of age and older.
OAS payment dates this year are:
- January 29, 2024
- February 27, 2024
- March 26, 2024
- April 26, 2024
- May 29, 2024
- June 26, 2024
- July 29, 2024
- August 28, 2024
- September 25, 2024
- October 29, 2024
- November 27, 2024
- December 20, 2024
Canada Child Benefit
If you're a single parent, you can still get money from the Canada Child Benefit.
The Canada Child Benefit (CCB) is a tax-free monthly payment to help with the cost of raising children under 18 years old.
You could get a maximum CCB payment of $7,437 per year — $619.75 per month — for each child under six years old and $6,275 per year — $522.91 per month — for each child 6 to 17 years old.
If your adjusted family net income is under $34,863, you get the maximum amount for each child.
Your payments gradually start decreasing when the adjusted family net income is more than $34,863.
CCB payment dates this year 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
Climate action incentive payment
The climate action incentive payment is a tax-free amount that's paid to help eligible people offset the cost of federal pollution pricing.
How much money you get depends on your family situation but you can get payments even if you're not married and if you're a single parent.
In Alberta, the payment is $193 for an individual, $48.25 per child under 19, and $96.50 for the first child in a single-parent family each quarter.
Saskatchewan offers $170 for an individual, $42.50 per child under 19, and $85 for the first child in a single-parent family.
In Manitoba, quarterly payments are $132 for an individual, $33 per child under 19, and $66 for the first child in a single-parent family.
Ontario's climate action incentive payment gives $122 for an individual, $30.50 per child under 19, and $61 for the first child in a single-parent family each quarter.
New Brunswick has quarterly payments of $92 for an individual, $23 per child under 19, and $46 for the first child in a single-parent family.
P.E.I. offers $120 for an individual, $30 per child under 19, and $60 for the first child in a single-parent family every quarter.
Nova Scotia's climate action incentive payment gives $124 for an individual, $31 per child under 19, and $62 for the first child in a single-parent family each quarter.
In Newfoundland and Labrador, quarterly payments are $164 for an individual, $41 per child under 19, and $82 for the first child in a single-parent family.
So, with four payments in 2024, you could get from $368 to $772 for yourself and hundreds of more dollars if you're a single parent.
The climate action incentive payment dates are:
- January 15, 2024
- April 15, 2024
- July 15, 2024
- October 15, 2024
This article's cover image was used for illustrative purposes only.
