CRA Payment Dates 2024: Financial security is essential for individuals and families across Canada. Programs like the Canada Pension Plan (CPP), Old Age Security (OAS), Canada Workers Benefit (CWB), Child and Family Benefits (CAIP), Goods and Services Tax (GST), and Harmonized Sales Tax (HST) credits play a pivotal role in supporting Canadians in various circumstances. These payments ensure that retirees, low-income workers, families with children, and others receive much-needed assistance.
Knowing the CRA Payment Dates 2024 is crucial to managing your finances effectively. In this guide, we’ll provide a detailed overview of the payment schedules, eligibility criteria, and maximum amounts for these key benefits. By staying informed, you can ensure you don’t miss any payments and make the most of the support available.
Overview of CRA Payment Dates 2024
| Benefit | Eligibility | Frequency | 2024 Payment Dates | Maximum Annual Amount |
| Canada Pension Plan (CPP) | Retirees, survivors, people with disabilities | Monthly (3rd of each month) | Jan 3, Feb 3, Mar 3, etc. | Up to $1,306.57/month |
| Old Age Security (OAS) | Seniors 65 and older | Quarterly (4x/year) | Jan 29, Apr 29, Jul 29, Oct 28 | Up to $1,050.23/month |
| Canada Workers Benefit (CWB) | Low-income workers and families | Monthly or annual lump sum | Feb 5, Mar 5, Apr 5, etc. | Up to $5,200 (family) |
| Child and Family Benefits (CAIP) | Families with children under 18 | Monthly | Jan 20, Feb 20, Mar 20, etc. | $500–$1,500/month |
| GST/HST Credit | Low/modest-income individuals/families | Quarterly | Jan 5, Apr 5, Jul 5, Oct 5 | Up to $800/year (family) |
Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) provides monthly financial support to individuals who have retired, are living with disabilities, or are surviving family members of deceased contributors. CPP is funded through contributions made by working Canadians and their employers during employment.
Eligibility
- Retirement Benefits: Individuals aged 60 or older who contributed to CPP while working.
- Disability Benefits: Individuals under 65 who can no longer work due to a disability.
- Survivor Benefits: Spouses, common-law partners, or children of deceased contributors.
Payment Dates
CPP payments are issued on the 3rd day of each month. If the 3rd falls on a weekend or holiday, payments are made on the next business day. Key 2024 dates include:
- January 3, 2024
- February 3, 2024
- March 3, 2024
Maximum Amounts
The maximum monthly amount for a new retiree in 2024 is $1,306.57. The actual amount depends on an individual’s contributions and work history.
Old Age Security (OAS)
Old Age Security (OAS) is a federal government program providing monthly payments to seniors aged 65 or older. Unlike CPP, OAS does not require prior contributions and is funded through general tax revenue.
Eligibility
To qualify for OAS, you must:
- Be 65 or older.
- Have lived in Canada for at least 10 years after the age of 18.
- Be a Canadian citizen or legal resident.
Payment Dates
OAS payments are issued quarterly:
- January 29, 2024
- April 29, 2024
- July 29, 2024
- October 28, 2024
Maximum Amounts
The maximum monthly payment for OAS in 2024 is $1,050.23. Payments may be reduced for individuals with higher incomes.
Canada Workers Benefit (CWB)
The Canada Workers Benefit (CWB) is a refundable tax credit for low-income workers and families, designed to provide additional financial support to those employed but facing financial challenges.
Eligibility
- Be a Canadian citizen or permanent resident.
- Be at least 19 years old.
- Meet specific income thresholds based on family size.
Payment Dates
CWB payments can be received monthly or as an annual lump sum. Monthly payment dates in 2024 include:
- February 5, 2024
- March 5, 2024
- April 5, 2024
Maximum Amounts
- Up to $5,200 annually for families.
- Up to $2,700 annually for single individuals.
Child and Family Benefits (CAIP)
The Child and Family Benefits, including the Canada Child Benefit (CCB) and Climate Action Incentive Payment (CAIP), offer monthly financial assistance to families with children under 18.
Eligibility
- Must have at least one child under 18 years old.
- Be a Canadian resident.
- Meet income-based eligibility requirements.
Payment Dates
These benefits are issued monthly, with key 2024 dates as follows:
- January 20, 2024
- February 20, 2024
- March 20, 2024
Payment Amounts
Families may receive between $500 and $1,500 per month per child, depending on their income and family size.
GST/HST Credit
The Goods and Services Tax (GST) and Harmonized Sales Tax (HST) credits provide financial relief to low- and modest-income families by offsetting indirect tax costs.
Eligibility
- Be at least 19 years old.
- Be a Canadian citizen or permanent resident.
- Meet income thresholds.
Payment Dates
GST/HST credits are issued quarterly on the following dates:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 5, 2024
Maximum Amounts
- Up to $800 annually for families, depending on income and family size.
How to Apply for CRA Benefits
- File Your Taxes: Filing your annual tax return is the first step to determining eligibility for CRA benefits. Even if you don’t owe taxes, filing ensures you receive all applicable benefits.
- Set Up Direct Deposit: Direct deposit is the fastest and most reliable way to receive payments. Update your banking information through your CRA My Account.
- Keep Your Information Updated: Ensure your marital status, address, and dependents are correctly listed with CRA.
FAQs on CRA Payment Dates 2024
When are CPP payments issued in 2024?
CPP payments are made monthly on the 3rd day of each month.
How frequently are OAS payments issued?
OAS payments are issued quarterly in January, April, July, and October.
What is the maximum amount for GST/HST credits in 2024?
The maximum annual amount for GST/HST credits is $800 for families.
Can CWB payments be received monthly?
Yes, CWB payments can be received monthly or as a lump sum during tax refunds.
Final Thoughts
Understanding the CRA Payment Dates 2024 is essential for planning your finances and ensuring timely receipt of benefits. Programs like CPP, OAS, CWB, CAIP, GST, and HST provide critical financial support to millions of Canadians. By staying informed about payment schedules, eligibility criteria, and application processes, you can make the most of these programs.
If you have any questions or need further guidance, visit the official CRA website or contact their support services. Plan ahead, stay organized, and take full advantage of the benefits you’re entitled to!
