Last Updated On 24 December 2023, 9:52 AM EST (Toronto Time)
The Canadian government provides a range of credits and rebate payments to assist individuals in dealing with rising living costs and most Canadians wait for the next payment dates.
If you’re wondering what the upcoming CRA payment dates are in December 2023 and early 2024, then you are at the right place.
Most of the CRA benefits are available to all Canadian taxpayers, including work permit holders and international students.
Below are the four upcoming CRA benefit payments that are yet to be delivered to the pockets of eligible Canadians.
GST/HST Credit
GST/HST credit will be paid out to Canadian taxpayers on January 5 and April 5 in 2024.
The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit, a tax-free quarterly payment, is intended to help individuals and families with low to moderate incomes by offsetting their tax burden.
The next payment is expected to be sent on January 5, 2024, and eligible recipients may be eligible to receive up to:
- $496 for single individuals
- $650 for married couples or common-law partners
- $171 for each child under the age of 19
You do not need to apply for this credit because it is applied for automatically when you file your taxes. Current calculations are based on the tax that you filed in 2023.
Canada Child Benefit (CCB)
The upcoming dates for Canada Child Benefit, or CCB payment are set for eligible Canadian families on December 13, 2023, and January 20, 2024.
Since January 20, 2024, falls on Saturday, it is expected to be paid out on or before January 19, 2024.
The government provides the CCB, a monthly stipend that is tax-free, to help with child-rearing expenses.
If you are a temporary resident, you must have lived in Canada for 18 months straight and have a valid permit in your 19th month before applying for the Canada Child Benefit and any related provincial and territorial programs.
Your income in 2022 and the age of your children affect the amount you receive.
Advanced Canada Workers Benefit (ACWB)
The next Advanced Canada Workers Benefit (ACWB) payment is expected to go into the pockets of eligible Canadians on January 12, 2024.
The CWB is a refundable tax benefit that is intended to help low-income individuals and families.
To be qualified for the basic CWB amount, you must do the following:
- Be 19 or older on December 31, or live with a spouse, common-law partner, or child.
- Be a Canadian resident throughout the year and work while earning less than the net income amount stipulated for your province or territory.
For single Canadians, the potential amount is up to $1,428 in four quarterly payments.
Families might get a total of up to $2,461 in additional disability benefits based on their annual income.
The application process includes an assessment during the filing of your yearly tax return.
Learn more about the Canada Workers Benefit (CWB) by clicking here.
Climate Action Incentive Payment (CAIP)
The CAIP is a tax-free payment designed to assist individuals and families in offsetting the costs associated with federal pollution pricing.
Residents of Alberta, Saskatchewan, Manitoba, Ontario, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island are eligible.
The Climate Action Incentive Payment (CAIP) is set to be released on January 15, 2024.
The payment is made quarterly and includes a base amount as well as an additional supplement for residents of small and rural regions.
Click here to learn more about the Climate Action Incentive Payment (CAIP) amount and calculation.
The Canadian government provides various avenues for financial assistance to its residents.
These benefits range from tax credits such as the GST/HST Credit to assistance for raising children through the Canada Child Benefit, support for low-income workers through the Canada Workers Benefit, the Canada Dental Benefit, and even assistance with environmental costs through the Climate Action Incentive Payment.
By investigating and utilizing these avenues, Canadians can obtain vital assistance in improving their financial status and general well-being.
What are the upcoming CRA payments?
What are the CRA payment dates 2024?
The upcoming CRA payment dates for 2024 are as follows:
1. GST/HST Credit: January 5 and April 5
2. Canada Child Benefit payment dates: December 13, 2023, and January 20, 2024
3. Advanced Canada Workers Benefit (ACWB): January 12, 2024
4. Climate Action Incentive Payment (CAIP): January 15, 2024
Please note that these CRA payment dates are subject to change, so it’s always a good idea to double-check with the Canada Revenue Agency (CRA) for any updates.