The Canadian government provides various financial assistance programs to support its citizens, including seniors, families, veterans, and low-income individuals. These programs help manage essential expenses such as housing, food, and healthcare, especially amid rising living costs. Understanding the details of these benefits and their payment schedules is crucial for effective financial planning.
Canada Pension Plan (CPP) and Old Age Security (OAS):
Seniors receive financial support through CPP and OAS. CPP payments are based on contributions made during working years, while OAS eligibility depends on age and residency. For 2025, OAS payments are scheduled for April 28 and May 28. These payments are adjusted quarterly to reflect inflation. Additional support is available through the Guaranteed Income Supplement (GIS).
Canada Child Benefit (CCB):
The CCB provides tax-free monthly payments to families with children under 18, assisting with the cost of raising children. Payment amounts are determined by household income and the number of children. For 2025, CCB payments are scheduled for April 19 and May 17. These amounts are reviewed annually to account for the cost of living.
Ontario Trillium Benefit (OTB):
The OTB assists low- to moderate-income Ontario residents with energy costs and property taxes. It combines the Ontario Energy and Property Tax Credit, Northern Ontario Energy Credit, and Ontario Sales Tax Credit. Payments are issued monthly, with upcoming dates on April 10 and May 9, 2025.
Veteran Disability Pension:
Veterans with service-related disabilities receive tax-free monthly payments. For 2025, payment dates include April 29 and May 29. These payments provide financial support in recognition of their service and sacrifices.
GST/HST Credit:
The GST/HST credit is a quarterly payment that helps individuals and families with low and modest incomes offset the goods and services tax or harmonized sales tax they pay. The next payment is scheduled for April 4, 2025.
Canada Carbon Rebate (CCR):
Formerly known as the Climate Action Incentive Payment, the CCR assists individuals in provinces where the federal carbon tax applies. The final payment is scheduled for April 22, 2025. To receive this payment, individuals must have filed their 2024 income tax and benefit return electronically by April 2, 2025.
Financial Assistance for Students Under 25:
Students aged 18 to 24 may qualify for financial aid if their parent is deceased or disabled. The Canada Student Financial Assistance Program offers grants and loans to help students pay for post-secondary education. Funding is available to full- and part-time students, with amounts depending on financial need and other factors.
Property Tax Assistance for Low-Income Homeowners:
Low-income seniors (65+) and individuals with disabilities may be eligible for property tax assistance programs, such as the Ontario Senior Homeowners’ Property Tax Grant (OSHPTG). This grant provides annual payments to help offset property taxes for eligible homeowners. Applications must be submitted annually when filing income tax returns.
How to Claim a Missing Payment:
If a scheduled payment has not been received, individuals should:
- Check the status through the CRA’s “My Account” online portal.
- Wait 10 business days after the expected payment date.
- Contact the CRA at 1-800-959-8281 to report the missing payment.
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Request a replacement cheque if necessary.
Government-issued cheques do not expire, so past payments can still be cashed.