As the cost of living continues to rise, the Canada Revenue Agency (CRA) is introducing several benefit programs in January 2025 to provide financial relief to Canadians, including newcomers and temporary residents. These programs aim to support individuals and families in managing expenses and improving their quality of life.
Canada Child Benefit
The Canada Child Benefit (CCB) is a tax-free monthly payment designed to assist families with children under 18 years old. It helps offset the costs of raising children and provides critical financial support to families across Canada.
Eligibility
- Canadian residents, including temporary residents, must meet residency requirements.
- Temporary residents need to live in Canada for at least 18 consecutive months and hold a valid permit by the 19th month.
- Newcomers should apply after settling in Canada.
Payment Amounts
- Families can receive up to $7,786.92 annually (or $648.91 monthly) for each child under six years old.
- For each child aged 6 to 17, families can receive up to $6,570 annually (or $547.50 monthly).
- Payment amounts decrease as family income exceeds $36,502.
GST/HST Credit
The GST/HST credit is a quarterly payment that helps individuals and families with low and modest incomes offset all or part of the GST or HST they pay. This credit provides financial assistance to help cover the cost of GST/HST expenses.
Eligibility:
- Canadian residents, including temporary residents, automatically qualify by filing their taxes.
- No separate application is needed.
Payment Amounts:
- Individuals can receive up to $519 annually.
- Couples can receive up to $680 annually, with an additional $179 per child under 19 years.
Advanced Canada Workers Benefit
The Advanced Canada Workers Benefit (ACWB) provides refundable tax credits to low-income individuals and families, encouraging workforce participation. It offers financial support to those in the workforce with low incomes.
Eligibility:
- Canadian and temporary residents, must meet income thresholds and other criteria.
Payment Amounts:
- Individuals can receive up to $1,518 annually.
- Families can receive up to $2,616 annually.
Canada Carbon Rebate
The Canada Carbon Rebate (CCR), formerly known as the Climate Action Incentive Payment, provides quarterly payments to residents to offset the cost of federal pollution pricing. This rebate helps alleviate expenses related to carbon pricing.
Eligibility:
- Residents of Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, and Saskatchewan are eligible.
Payment Amounts:
- Payment amounts vary by province and family composition.
- For example, a family of four in Ontario can receive up to $976 annually.
| Benefit Program | Eligibility Criteria | Maximum Annual Payment (Individual) | Maximum Annual Payment (Family) | Application Requirement |
|---|---|---|---|---|
| Canada Child Benefit (CCB) | Canadian residents with children under 18; income-based | N/A | Up to $7,786.92 per child under 6 | Application required (Form RC66) |
| GST/HST Credit | Low/modest-income Canadian residents; automatic with tax filing | Up to $519 | Additional $179 per child | No separate application needed |
| Advanced Canada Workers Benefit (ACWB) | Low-income workers; income thresholds apply | Up to $1,518 | Up to $2,616 | Automatic with tax filing |
| Canada Carbon Rebate (CCR) | Residents in eligible provinces; varies by province and family composition | Varies | Up to $976 for a family of four in Ontario | Automatic with tax filing |
These benefit programs are designed to provide financial support to Canadians, helping to alleviate the burden of rising living costs.
By understanding the eligibility criteria and application processes, individuals and families can take full advantage of the assistance available to them.
FAQs
Who is eligible for the Canada Child Benefit (CCB)?
Canadian residents with children under 18 years old are eligible for the CCB. Temporary residents must have lived in Canada for at least 18 consecutive months with a valid permit during the 19th month. Newcomers should apply after settling in Canada.
How do I apply for the GST/HST Credit?
There is no separate application for the GST/HST Credit. Eligibility is determined automatically when you file your taxes. Ensure that you file your tax return to receive this credit.
What is the payment schedule for the Canada Carbon Rebate (CCR)?
The Canada Carbon Rebate is paid quarterly. Upcoming payment dates for 2025 are January 15, April 15, July 15, and October 15.
Can temporary residents receive the Ontario Trillium Benefit (OTB)?
Yes, temporary residents who meet the residency and income requirements are eligible for the Ontario Trillium Benefit. Ensure that you file your tax
