In November 2024, Ontario residents will receive two significant CRA benefit payments: the Canada Child Benefit (CCB) and the Ontario Trillium Benefit (OTB). Designed to aid low- and moderate-income households, these benefits offer financial relief amidst rising living costs, helping families with essentials from child care to energy expenses.
1. Canada Child Benefit (CCB): Financial Support for Families
The Canada Child Benefit (CCB) is a tax-free monthly payment for families with children under 18. It aims to ease the financial burden of raising children, assisting with education, healthcare, and child-related needs like clothing and food.
Eligibility for CCB
To qualify for the CCB, applicants must reside in Canada and have either Canadian citizenship, permanent residency, or other qualifying status. The primary caregiver, usually a parent, must apply for the benefit. In cases of shared custody, the CCB can be split between parents. Importantly, the CCB amount is income-tested, offering higher payments to families with lower incomes.
Temporary residents can qualify for the CCB if they meet specific conditions, including 18 months of valid temporary residency in Canada and unrestricted access to social benefits. Applicants must submit proof of status and primary caregiver documentation.
Maximum Payment for 2024 and Upcoming Payment Date
The CCB payment varies based on family income and the child’s age:
- Under age 6: Families can receive up to $7,787 annually per child.
- Ages 6-17: Up to $6,570 per child each year.
November’s CCB payment is scheduled for November 20, 2024, with funds directly deposited for those enrolled or mailed as checks to others.
2. Ontario Trillium Benefit (OTB): Easing Monthly Expenses
The Ontario Trillium Benefit (OTB) is a provincial benefit designed to offset costs associated with sales tax, property tax, and energy. The OTB combines three tax credits—the Ontario Sales Tax Credit, Ontario Energy and Property Tax Credit, and the Northern Ontario Energy Credit—into one payment, providing essential financial relief to Ontario’s low- and moderate-income residents.
Eligibility for OTB
To receive the OTB, applicants must have Ontario residency as of December 31 of the previous tax year and meet income limits. Since the benefit is income-tested, individuals with higher incomes receive reduced or no payments. Filing a tax return is required, as eligibility is determined based on the prior year’s tax details.
Temporary residents can qualify for the OTB if they were Ontario residents as of December 31 of the previous year, possess a valid status permit, and file their tax return on time. Eligibility is then determined by residency, income, and filed tax information.
Maximum Payment Amounts and Upcoming Payment Date for OTB
Each component of the OTB has a different maximum:
- Ontario Sales Tax Credit: Up to $360 per adult or child annually.
- Ontario Energy and Property Tax Credit: Up to $1,248 for non-seniors and $1,421 for seniors.
- Northern Ontario Energy Credit: Up to $180 for singles and $277 for families.
The upcoming OTB payment is scheduled for November 8, 2024, for eligible residents.
How to Apply for the CCB and OTB
Eligible applicants can apply for the Canada Child Benefit through the CRA My Account online or by mailing a paper form, which may require proof of status and caregiver documentation. For the Ontario Trillium Benefit, applicants only need to file their annual tax return, and the CRA will determine eligibility based on income and residency details.
These monthly CRA benefits provide crucial support for Ontario families and individuals, making it easier to manage the essentials amidst rising living costs.
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