With rising living costs continuing to impact households, the Canada Revenue Agency (CRA) is set to provide much-needed financial relief through several benefit programs. These payments, scheduled for January 2025, aim to support eligible Canadians, including newcomers and temporary residents, in managing expenses.
Here’s a detailed overview of these five key CRA benefit payments, their eligibility criteria, and what you need to do to access them.
1. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment designed to support families raising children under 18 years old.
Eligibility
- Canadian residents, including temporary residents with valid permits, are eligible.
- Temporary residents must have lived in Canada for 18 consecutive months before applying.
- Newcomers can apply once they meet the residency criteria.
Payment Details
- Families can receive up to $7,786.92 annually ($648.91 monthly) for each child under six.
- For children aged 6-17, the annual payment is up to $6,570 ($547.50 monthly).
- Payments decrease as Adjusted Family Net Income (AFNI) exceeds $36,502.
Next Payment Date
January 20, 2025, followed by payments in February and March.
2. GST/HST Credit
The Goods and Services Tax (GST)/Harmonized Sales Tax (HST) credit is a quarterly tax-free payment that helps low- and moderate-income households offset GST/HST costs.
Eligibility
- Residents automatically qualify upon filing their taxes—no separate application is needed.
Payment Details
- Maximum annual amounts:
- $519 for individuals.
- $680 for couples.
- An additional $179 per child under 19.
Next Payment Date
January 3, 2025, with subsequent payments in April, July, and October.
3. Advanced Canada Workers Benefit (ACWB)
The Advanced Canada Workers Benefit (ACWB) provides refundable tax credits to low-income individuals and families, encouraging workforce participation.
Eligibility
- Applicants must be Canadian residents aged 19 or older or live with a spouse or dependent.
- Income thresholds vary by province and family size.
Payment Details
- Annual maximums:
- $1,518 for individuals.
- $2,616 for families.
- Payments are divided quarterly.
Next Payment Date
January 10, 2025, with future installments in April, July, and October.
4. Canada Carbon Rebate (CCR)
The Canada Carbon Rebate (CCR), formerly known as the Climate Action Incentive Payment (CAIP), offsets costs from federal pollution pricing, ensuring environmental policies remain affordable.
Eligibility
- Residents of provinces under federal carbon pricing, including Alberta, Manitoba, Ontario, and Saskatchewan.
- Additional support for rural or small-community residents.
Payment Details
- Annual payments vary by province:
- $1,544 for Alberta families.
- $976 for Ontario families.
Next Payment Date
January 15, 2025, followed by quarterly payments.
5. Ontario Trillium Benefit (OTB)
Exclusive to Ontario residents, the OTB consolidates three credits: Ontario Energy and Property Tax Credit, Ontario Sales Tax Credit, and Northern Ontario Energy Credit.
Eligibility
- Residents who file their 2023 tax return and meet income requirements.
- Temporary residents who meet residency criteria can also qualify.
Payment Details
- Payments can total up to $1,013 annually, with the option of monthly or lump-sum disbursements.
Next Payment Date
January 10, 2025.
Eligibility for Temporary Residents and Newcomers
Temporary residents, including international students and workers, can access these benefits by fulfilling specific residency and income criteria.
Steps to Apply
- Create a CRA My Account: Essential for managing taxes and benefits.
- File Your Taxes: Even if you have no income, this ensures eligibility.
- Submit Required Forms: For example, Form RC66 for the CCB.
- Provide Proof of Residency: Documents like utility bills or rental agreements help establish residency.
Newcomers should apply as soon as they meet residency requirements to maximize benefits.
Key CRA Payment Dates in January 2025
Here’s a quick reference for January’s CRA benefit payments:
- GST/HST Credit: January 3, 2025.
- Ontario Trillium Benefit: January 10, 2025.
- Advanced Canada Workers Benefit: January 10, 2025.
- Canada Carbon Rebate: January 15, 2025.
- Canada Child Benefit: January 20, 2025.
Why These Benefits Matter
The CRA’s benefit programs play a vital role in supporting Canadians during economic challenges. According to Statistics Canada, the national inflation rate rose to 3.8% in 2024, with essential goods like food and housing experiencing the sharpest increases. These payments provide crucial financial relief to vulnerable populations, fostering economic stability and social equity.
January 2025 marks an important month for financial relief in Canada. Whether you’re a long-time resident, newcomer, or temporary worker, understanding these CRA benefits and meeting eligibility requirements can significantly ease your financial burden.
Stay informed, file your taxes on time, and apply for benefits to make the most of these opportunities. For further details, visit the official CRA website.
