Should You Expect Benefit Cheques in December 2024 and January 2025?

As December rolls in, many Ontario residents are facing rising living costs and holiday expenses. To alleviate financial pressure, the Canadian government has announced benefit cheques for eligible individuals, arriving in December 2024 and January 2025. Below is a detailed breakdown of the upcoming payments.

Canadian Pension Plan (CPP) and Old Age Security (OAS)

Eligible individuals can receive the following benefits under the CPP and OAS programs:

• CPP: Up to $1,306.57 per month for individuals aged 65 and older.
• OAS Pension:
  • Ages 65-74: Up to $707.68 per month for incomes below $148,451.
  • Ages 75+: Up to $880.44 per month for incomes under $154,196.

OAS adjusts quarterly for inflation based on the Consumer Price Index (CPI), ensuring payments reflect cost-of-living increases.

Payment dates:

• December 20, 2024
• January 29, 2025

Canada Child Benefit (CCB)

The Canada Child Benefit (CCB) provides tax-free monthly assistance to families supporting children under 18. Depending on eligibility, the Ontario Child Benefit may also apply, offering up to $1,607 annually per child.

Payment dates:

• December 13, 2024
• January 20, 2025

Ontario Trillium Benefit (OTB)

The Ontario Trillium Benefit (OTB) includes:

• Ontario Energy and Property Tax Credit
• Northern Ontario Energy Credit
• Ontario Sales Tax Credit

Payment dates:

• December 10, 2024
• January 10, 2025

Canada Carbon Rebate

The Canada Carbon Rebate (formerly Climate Action Incentive) helps Canadians manage carbon tax costs. Most households receive more in rebates than they pay in taxes, with top-ups for rural areas.

Payment date:

• January 15, 2025

Annual rebates for a family of four in Ontario can reach up to $976.

GST/HST Refund

The GST/HST refund provides quarterly financial support for Canadians.

Payment date:

• January 3, 2025

Annual amounts:

• Single individuals: $496
• Married/common-law couples: $650
• Per child under 19: $171

Veteran Disability Pension

The Veteran Disability Pension offers tax-free support to veterans and service members with service-related injuries or illnesses. Eligible individuals can choose:

• Pain and Suffering Compensation (monthly or lump sum)
• Disability Pension, including dependents’ benefits.

Payment date:

• January 30, 2025

Canada Workers Benefit (CWB)

The Canada Workers Benefit (CWB) is a refundable tax credit for low-income workers. It includes:

• Basic amount: Maximum $1,428 for singles and $2,461 for families.
• Disability supplement: Up to $737 for individuals or families.

Payment date:

• January 10, 2025

Eligibility depends on adjusted net income. Single individuals earning more than $33,015, or families with incomes over $43,212, are not eligible for the basic amount.

Property Tax Assistance for Older Adults and Disabled Residents

Low-income older adults (65+) or those with disabilities may qualify for:

• Annual property tax rebates
• Stormwater Charge Subsidies

Eligibility criteria:

1. Must receive benefits under Guaranteed Income Supplement (GIS) or Ontario Disability Support Program (ODSP).
2. Apply by December 31, 2024, or earlier with complete documentation.

Carbon Pricing Refund for Businesses

Small and medium-sized businesses will receive carbon pricing refunds in December 2024, covering taxes from 2019 to 2024. Over $2.5 billion will be distributed, with amounts varying based on location and workforce size.

Missed Payments? Here’s What to Do

If you missed a payment:

1. Check your status in your CRA My Account.
2. Wait 10 days after the payment date before contacting CRA.
3. Call 1-800-959-8281 to request a replacement cheque.

Conclusion

These benefit cheques are a lifeline for Ontario residents, providing financial relief during the holiday season. Check your eligibility to ensure you receive your payments on time.