Five New CRA Benefit Payments Set For Release In January 2025

Canadians are preparing for a new round of benefit payments from the Canada Revenue Agency (CRA) in January 2025, offering financial support to eligible residents, including newcomers and temporary workers. As the cost of living rises, these payments are a crucial relief for many. Below is a breakdown of the five main benefits and how to access them.

1. Canada Child Benefit (CCB)

The Canada Child Benefit is a monthly, tax-free payment aimed at supporting families with children under 18. This payment is vital for offsetting the costs of raising children.

Eligibility:

• All Canadian residents, including temporary residents, who meet residency criteria.
• Temporary residents must have lived in Canada for at least 18 consecutive months with a valid permit.
• Newcomers can apply once they settle in.

Payment Amount:

• Families with children under 6 can receive up to $7,786.92 annually ($648.91 monthly).
• Families with children aged 6 to 17 can receive up to $6,570 annually ($547.50 monthly).
• Payments decrease as family income exceeds $36,502.

How to Apply:

• Newcomers can apply online or by mail with Form RC66.
• Payments are scheduled for January 20, February 19, and March 18, 2025.

2. GST Credit

The GST/HST credit is designed to help low- and moderate-income households cover the cost of sales taxes.

Eligibility:

• Available to all Canadian residents, including temporary residents, who file taxes.

Payment Amount:

• Individuals can receive up to $519 annually.
• Couples can get up to $680.
• An additional $179 per child under 19.

Next Payment Date:

• January 3, 2025, with subsequent payments on April 4, 2025, and July 5, 2025.

3. Advanced Canada Workers Benefit (ACWB)

The ACWB is a refundable tax credit that supports low-income individuals and families, encouraging work participation.

Eligibility:

• Available to Canadian residents aged 19 or older, or those with a spouse or child.
• Income limits vary based on province and family size.

Payment Amount:

• Single individuals may receive up to $1,518 annually.
• Families may receive up to $2,616 annually, distributed quarterly.

How to Apply:

• Eligibility is determined when filing taxes, no separate application is required.
• Payments are set for January 10, April 11, and July 12, 2025.

4. Canada Carbon Rebate (CCR)

The CCR, formerly known as the Climate Action Incentive Payment (CAIP), helps offset the cost of federal pollution pricing.

Eligibility:

• Available to residents of provinces with federal pollution pricing, including Alberta, Saskatchewan, Manitoba, and Ontario.

Payment Amount:

• Alberta families can receive up to $1,544 annually.
• Ontario families can get up to $976 annually.

Next Payment Date:

• January 15, 2025, with additional payments on April 15, July 15, and October 15, 2025.

5. Ontario Trillium Benefit (OTB)

The OTB combines three credits to provide relief to low- to moderate-income Ontario residents, including the Ontario Energy and Property Tax Credit, the Ontario Sales Tax Credit, and the Northern Ontario Energy Credit.

Eligibility:

• Residents of Ontario who have filed their 2023 tax return.
• Temporary residents who meet residency requirements are also eligible.

Payment Amount:

• Payments can reach up to $1,013 annually, depending on income and family size.

Next Payment Date:

• January 10, 2025.

Eligibility for Temporary Residents and Newcomers

Temporary residents, including international students and work permit holders, can qualify for these benefits if they meet the residency and income requirements.

Steps to Apply:

• Create a CRA My Account to manage benefits and taxes.
• Submit necessary forms, such as Form RC66 for the Canada Child Benefit.
• File taxes, even with no income, to stay eligible for benefits.
• Provide proof of residency (e.g., rental agreements or utility bills).

Key CRA Benefit Payment Dates in January 2025

Here’s a quick overview of the upcoming payment dates:

• GST/HST Credit: January 3, 2025
• Ontario Trillium Benefit: January 10, 2025
• Advanced Canada Workers Benefit: January 10, 2025
• Canada Child Benefit: January 20, 2025
• Canada Carbon Rebate: January 15, 2025

As Canadians face higher living costs, these upcoming payments are a lifeline for many. Whether you're a long-time resident or a newcomer, understanding these benefits is essential. Be sure to file taxes on time, meet eligibility requirements, and apply for the financial support available to you.