Canadian citizens may receive financial assistance in 2024 through federal government benefits, tax credits, and discounts.
GST Tax Credit:
- The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a quarterly tax-free payment.
- Payments are expected on January 5, April 5, July 5, and October 4, 2024.
- Aimed at offsetting taxes for individuals and families with low to modest incomes.
- Potential amounts: $496 for singles, $650 for married/common-law couples, $171 per child under 19.
- Automatically assessed when filing taxes; no registration required.
Canada Child Benefit (CCB):
- Monthly tax-free payments to support child-rearing.
- Planned monthly payments throughout the year.
- Managed by the Canada Revenue Agency (CRA).
Canada Workers Benefit (CWB):
- Tax credit refunds for individuals and families with low incomes.
- Expected payments on January 12, July 12, and October 11, 2024.
- Eligibility criteria include age, residence, work, and income below the prescribed net income for the province.
Single eligible Canadians may receive up to $1,428, while eligible families can receive up to $2,461. You may also receive up to $737 for a supplemental amount for disabilities based on your annual income.
Climate Action Incentive Payment (CAIP):
- Tax-free incentives to help individuals and families offset federal pollution pricing costs.
- Expected payments on January 15, April 15, July 15, and October 15, 2024.
- For residents of specific provinces (Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, Nova Scotia, Prince Edward Island).
- Includes a basic amount and a supplement for residents in small communities and rural areas.
- Quarterly payments.
Provincial benefits such as Ontario Trillium Benefit and Alberta Family and Child Benefit are also available.
