Canada Benefit Payment Dates and Tax Benefits for Dependents in 2024

dependant tax benefit in Canada

The government of Canada provides several tax-free benefits and credits to support low and middle income individuals and families. These benefits are distributed on specific dates throughout the year by the Canada Revenue Agency (CRA). Here are the key payment dates for major federal benefits in 2024:

Canada Child Benefit (CCB)

The Canada Child Benefit provides tax-free monthly payments to help eligible families with the cost of raising children under 18 years old.

CCB Payment Dates in 2024:

  • January 19
  • February 20
  • March 20
  • April 19
  • May 17
  • June 20
  • July 19
  • August 20
  • September 20
  • October 18
  • November 20
  • December 13

The maximum CCB payment in 2024 is $7,787 per year ($649 per month) for each eligible child under 6 years old and $6,570 per year ($548 per month) for each eligible child aged 6-17 years old. Payments are reduced based on family net income.

Canada Pension Plan (CPP)

The CPP provides retirement, disability, survivor, children's and death benefits. CPP payments are made on the following dates in 2024:

  • January 29
  • February 27
  • March 26
  • April 26
  • May 29
  • June 26
  • July 29
  • August 28
  • September 25
  • October 29
  • November 27
  • December 20

Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit

The GST/HST Credit provides tax-free quarterly payments to help individuals and families with low and modest incomes offset all or part of the GST or HST that they pay.

GST/HST Credit Payment Dates in 2024:

  • January 5
  • April 5
  • July 5
  • October 4

Old Age Security (OAS)

The OAS program provides monthly payments to seniors aged 65+ years. OAS payment dates in 2024:

  • January 29
  • February 27
  • March 26
  • April 26
  • May 29
  • June 26
  • July 29
  • August 28
  • September 25
  • October 29
  • November 27
  • December 20

Tax Benefits for Dependents in 2024

The government of Canada offers various non-refundable tax credits and benefits to taxpayers with eligible dependents to help offset the costs of raising and caring for them. Here are some of the key tax benefits available in 2024:

Canada Child Benefit (CCB)

As mentioned previously, the CCB provides tax-free monthly payments to help eligible Canadian families with children under 18 years old. The maximum CCB payment in 2024 is $7,787 per year ($649 per month) for each eligible child under 6 years old and $6,570 per year ($548 per month) for each eligible child aged 6-17 years old.

Child Disability Benefit (CDB)

The CDB is a tax-free benefit for families who care for a child under age 18 with a severe and prolonged impairment in physical or mental functions. The maximum CDB amount in 2024 is $2,985 per eligible child per year ($249 per month).

Canada Caregiver Credit (CCC)

The CCC is a non-refundable tax credit to help caregivers reduce their tax owing. The maximum amounts for 2024 are:

  • $7,525 for eligible dependents 18 years or older
  • $2,350 for eligible dependents under 18 years old and infirm dependents age 18 or older

Family Caregiver Tax Credit

This credit allows caregivers to claim up to $2,400 for each eligible infirm dependent relative age 18 or older (max credit $7,200 if 3 or more infirm dependents).

Adoption Expense Tax Credit

This non-refundable credit covers eligible adoption-related expenses. The maximum claim for 2024 is $18,210 per child.

Registered Disability Savings Plan (RDSP)

The RDSP helps parents and others save for the long-term financial security of a person with a disability. The federal government provides matching Canada Disability Savings Grants and Canada Disability Savings Bonds.

Conclusion

The Canadian government provides a range of tax-free payments and non-refundable tax credits to support families in caring for dependent children and relatives. Understanding the eligibility criteria and payment schedules can help families access this important financial assistance.

Written By:
Salman Rundhawa
Salman Rundhawa is the founder of Filing Taxes. Salman provides valuable tax planning, accounting, and income tax preparation services in Toronto, Mississauga, Oakville, and Hamilton.

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