5 Exciting New CRA Benefit Payments Arriving January 2025: As Canadians face increased living expenses, the Canada Revenue Agency (CRA) is stepping in to offer a fresh round of benefit payments this January. These payments aim to provide significant financial relief to eligible residents, newcomers, and temporary workers. In this guide, we will highlight the five major CRA benefit payments, including eligibility criteria, payment amounts, and important dates, so you can make the most of the financial support available to you in the new year.
1. Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a tax-free monthly payment designed to assist families in managing the cost of raising children under 18.
Eligibility
To qualify, you must be a Canadian resident or a temporary resident with at least 18 months of residency in Canada. Newcomers should apply once they have settled in Canada.
Payment Amounts
- Up to $7,786.92 annually (or $648.91 per month) for children under six.
- Up to $6,570 annually (or $547.50 per month) for children aged 6-17.
Payments decrease as the Adjusted Family Net Income (AFNI) exceeds $36,502.
Next Payment Dates
- January 20, 2025
- February 19, 2025
- March 18, 2025
How to Apply
Applications can be submitted through the CRA My Account portal or by mailing Form RC66.
2. GST/HST Credit
The GST/HST Credit provides quarterly, tax-free payments to help low- and moderate-income households manage the GST/HST expenses.
Eligibility
Canadian residents, including temporary residents, qualify automatically by filing their taxes.
Payment Amounts
- Up to $519 annually for individuals.
- Up to $680 annually for couples.
- An additional $179 per child under 19.
Next Payment Dates
- January 3, 2025
- April 4, 2025
- July 5, 2025
3. Advanced Canada Workers Benefit (ACWB)
The ACWB is a refundable tax credit aimed at encouraging workforce participation among low-income individuals and families.
Eligibility
Canadian residents aged 19 or older, or those living with a spouse or child, are eligible. Income thresholds may vary based on province and family size.
Payment Amounts
- Up to $1,518 annually for singles.
- Up to $2,616 annually for families, distributed quarterly.
Next Payment Dates
- January 10, 2025
- April 11, 2025
- July 12, 2025
How to Apply
Eligibility is automatically determined when you file your taxes.
4. Canada Carbon Rebate (CCR)
The Canada Carbon Rebate helps offset the costs associated with federal pollution pricing and encourages eco-friendly practices.
Eligibility
This rebate is available to residents in provinces where federal pollution pricing is applied, such as Alberta, Saskatchewan, Manitoba, and Ontario. Additional rebates may be offered for those living in rural or small communities.
Payment Amounts
- Alberta families: Up to $1,544 annually.
- Ontario families: Up to $976 annually.
Next Payment Dates
- January 15, 2025
- April 15, 2025
- July 15, 2025
- October 15, 2025
5. Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit (OTB) combines three separate credits—the Ontario Energy and Property Tax Credit, the Ontario Sales Tax Credit, and the Northern Ontario Energy Credit—to help low- and moderate-income residents of Ontario.
Eligibility
To qualify, you must reside in Ontario and have filed a 2023 tax return. Temporary residents with valid permits may also be eligible.
Payment Amounts
The amount varies based on income and family size, with a maximum of up to $1,013 annually.
Next Payment Date
- January 10, 2025
Payment Options
You can choose to receive monthly payments or opt for a lump sum.
Eligibility for Temporary Residents and Newcomers
Temporary residents, including international students and work permit holders, are eligible for CRA benefits if they meet the residency and income criteria.
Steps to Apply for CRA Benefits
- Create a CRA My Account: Essential for managing your benefits.
- File Taxes: Ensure your eligibility, even if you don’t have income.
- Submit Required Forms: For example, Form RC66 for the Canada Child Benefit (CCB).
- Provide Proof of Residency: Documents such as rental agreements may be required to confirm your residency status.
January 2025 promises substantial financial relief through CRA benefits. Whether you are a long-time resident or a newcomer to Canada, understanding these programs and eligibility criteria can help you maximize the available support.
Frequently Asked Questions:
Who qualifies for the Canada Child Benefit (CCB)?
Eligible individuals include Canadian residents or temporary residents with children under 18 who meet specific income requirements.
Do I need to apply for the GST/HST Credit?
No, the GST/HST Credit is automatically calculated when you file your taxes.
How do I apply for the Advanced Canada Workers Benefit (ACWB)?
Eligibility for the ACWB is determined through the tax filing process, so there is no separate application needed.
