As the holiday season looms, one might be wondering if some extra funds will be hitting his bank account.
The rising cost of living has left many people struggling to make ends meet. However, some Canadians might be happy to know that they will get some benefit cheques before the end of the year, with lower- and modest-income households getting more support.
Below are the benefit cheques that some Canadians are eligible to get and when they’ll be arriving:
Canada Child Benefit (CCB)
This is a tax-free monthly benefit that is administered by the Canada Revenue Agency (CRA). It is available to eligible families to help cushion the cost of raising children that are below 18 years of age. The CCB may be in form of child disability benefit and related provincial and territorial programs.
How much a family can get depends on how many children the family has and the adjusted family net income (AFNI). If the AFNI is less than $34,863, the family could get $7,437 per year ($619.75 per month) for children below the age of six. For children between the ages of six and 17, the family could get $6,275 per year ($522.91 per month).
The upcoming payment dates are November 20, 2023 and December 13, 2023.
Child disability benefit (CDB)
This is a tax-free monthly payment availed to families who care for a child below 18 years with a critical and prolonged impairment in physical or mental functions. The benefit comes at the same time as the CCB and amounts vary depending on AFNI. Families with an AFNI below $74,000 and one disabled child can get $264.41 a month while families with an AFNI of $245,000 or more are not eligible for the benefit.
Ontario Trillium Benefit
The Ontario Trillium Benefit helps low- to moderate-income Ontario residents pay for energy costs, sales and property tax. The last cheque was issued on November 10 and the next one will be sent out on December 8.
Advanced Canada Workers Benefit
This supports lower-income households. Though payments have been sent out for this year, those who are eligible for the cheque will get one on January 12, 2024.
For more details, click here.
