As Canadians gear up to welcome the winter, many end up with arms stretched to the benefits offered by the government for some income security. The Child Disability Benefit (CDB), Ontario Trillium Benefit (OTB), Alberta Child, and Family benefit (ACWB), Canada Pension Plan (CPP), Old Age Security (OAS), or Canada Child Benefit (CCB) are a few to name that help satisfy part of the financial needs of such payments. Knowing the important dates around these benefits would enable Canadians to plan their finances more effectively. Here is a payment schedule of several benefits for December 2024 to January 2025.
1. Canada Child Benefit (CCB)
The Canada Child Benefit is important financial assistance for families with children who are under 18 years of age. For the above period, CCB payments are paid on monthly basis. Generally, the issuing date for the CCB is the 20th of each month. If the 20th happens to fall on a weekend or holiday, however, payments are generally made on the next business day. Hence, with regards to December 2024, the payment will be December 20, 2024, while for January 2025, this will be January 22, 2025.
2. Ontario Trillium Benefit (OTB)
This Ontario Trillium Benefit would assist an Ontario resident in the following areas: energy costs, property taxes, and sales tax relief. OTB payments are allocated on a monthly basis during the December 2024 – January 2025 period. For that reason, the OTB payment schedule is for December 10, 2024, and January 10, 2025.
3. Alberta Child and Family Benefit (ACWB)
This is the Alberta Child and Family Benefit (ACWB) that provides for families with low to moderate incomes in Alberta. As for the ACWB payments during this time, coverage is from December 2024 to January 2025 and it would generally be quarterly payments but recipients will get them as scheduled. The December payment date is for December 15, 2024, with the next one expected on January 15, 2025.
4. Canada Pension Plan (CPP)
The Canada Pension Plan (CPP) provides for retirement, disability, and survivor benefits to qualifying Canadians. The CPP pays on a monthly basis, usually on the third last business day of the month, making the payment for December 2024 on December 27, 2024, and the payment for January 2025 on January 29, 2025. The recipients can expect to have the funds deposited directly to their bank account on these dates.
5. Old Age Security (OAS)
Old Age Security (OAS) is a monthly payment offered for seniors 65 years of age and older who meet a certain residency requirement. OAS payments are paid monthly, December to January 2025, with a payment typically made on the last business day of the month. OAS payment for December 2024 will be on December 27, 2024, and for January 2025, it will be made on January 29, 2025.
6. Child Disability Benefit (CDB)
CDB refers to Child Disability Benefit, a tax-free benefit designed to give some relief to families with children suffering from a serious disability. The CDB is given together with the Canada Child Benefit (CCB) on the same dates of payment. Thus, the CDB will be paid on December 20, 2024, and January 22, 2025, the same as the CCB.
7th. Benefit for Workers in Canada: CAIP
Canada Workers Benefit (CAIP) is a financial provision that brings assistance to low-income working individuals and families. Although this provision is given on an annual basis, it may instead appear as normal payroll or tax adjustments for the eligible worker during December 2024 to January 2025. It is essential for such persons to keep their tax filings updated for the timely receipt of this benefit.
Also Read: Canada’s $7,500 Tax Credit For December 2024: Payment Dates and Eligibility Explained
