Millions of Canadians rely on various government benefits to support their families, healthcare, and daily expenses. December 2024 brings critical payment dates for benefits like CPP, OAS, CCB, and others.
This article provides an in-depth guide to these programs, their payment schedules, and key details to ensure you’re well-prepared for the month.
Contents
Types of Canada Benefits and Their Key Details
Old Age Security (OAS)
The Old Age Security (OAS) program is a monthly taxable benefit for Canadians aged 65 and older. It is accessible to those with an annual income below $142,609.
- Basic OAS Amount (Dec 2024):
- $718.33/month (ages 65–74)
- $790.16/month (ages 75+)
- Eligibility requires at least 40 years of residence in Canada post-18 years of age.
Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) provides retirement income to Canadians who have contributed during their working years.
- Maximum CPP (Dec 2024): $816.52/month (new beneficiaries aged 65).
- Payment depends on the amount contributed and the duration of contributions.
Canada Child Benefit (CCB)
The Canada Child Benefit (CCB) is a non-taxable monthly benefit for households with children under 18 years old.
- Calculation Basis: Adjusted household income from July 2023 to June 2024.
- Primary caregivers can apply to receive this benefit. It also includes the Child Disability Benefit (CDB) for eligible children with disabilities.
Canada Disability Benefit (CDB)
The Canada Disability Benefit (CDB) supports individuals unable to work due to disabilities.
- Payment Amount: Depends on the severity of the disability.
- Eligibility: Verified disability status by medical professionals.
Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit (OTB) assists low-income households with property taxes, energy costs, and sales taxes.
- Annual Benefits: Individuals with less than $360 receive payments in July, while higher amounts are distributed monthly or annually.
Advanced Canada Workers Benefit (ACWB)
The Advanced Canada Workers Benefit (ACWB) offers financial aid to low-income working households.
- Maximum Benefit: $2,461/year.
- Paid in three installments, with the final one scheduled for October 2024.
Climate Action Incentive Payment (CAIP)
The CAIP helps mitigate the costs of federal pollution pricing.
- Eligibility: Determined automatically through annual tax returns.
- Payments are issued quarterly.
December 2024 Payment Schedule
Below is a detailed table of benefit payment dates for December 2024:
| Benefit | Payment Date |
|---|---|
| Canada Pension Plan (CPP) | 25 December 2024 |
| Old Age Security (OAS) | 26 December 2024 |
| Canada Child Benefit (CCB) | 20 December 2024 |
| Canada Disability Benefit (CDB) (Veteran) | 26 December 2024 |
| Ontario Trillium Benefit (OTB) | 10 December 2024 |
| Advanced Canada Workers Benefit (ACWB) | 12 October 2024 |
| Climate Action Incentive Payment (CAIP) | 15 October 2024 |
Note: If the scheduled date falls on a weekend or public holiday, payments are issued the preceding or next working day.
How to Track Your Payments
- My CRA Account: Easily monitor benefit payment status by logging into the CRA’s secure portal.
- CRA Website: Provides up-to-date information about your eligibility and payment details.
- Wait Time: Allow up to 10 business days after the payment date for funds to reflect in your account before contacting officials.
Key Facts and Figures
- OAS Basic Amount: Up to $790.16/month (75+ years old).
- CPP Maximum Benefit: $816.52/month for eligible retirees.
- CAIP Quarterly Payments: Automatic for eligible individuals.
- CCB Adjustments: Based on household income for the previous year.
December 2024 brings timely benefits for millions of Canadians. Understanding the eligibility criteria, benefit amounts, and payment dates is essential for effective financial planning.
Ensure your personal information and tax filings are up-to-date to avoid payment delays. If any issues arise, promptly contact the CRA.
What should I do if I don’t receive my payment on time?
Wait for 10 business days after the payment date before contacting the CRA. Use the My CRA Account to track your payments.
Can I receive the OAS if I live outside Canada?
Yes, but eligibility depends on your residency history in Canada. Ensure your application reflects your current situation.
Are CAIP payments automatic?
Yes, CAIP payments are issued automatically when you file your income tax return, provided you meet the eligibility criteria.
