Get all the latest updates on the Canada Benefit Dates December 2024: CPP, OAS, CCB, CDB, OTB, ACWB, and CAIP Credit Dates Here. Continue browsing to know the accurate payout dates.
Canada Benefit Dates December 2024
Millions of Canadians are eagerly waiting for their benefits through various programs governed by the Canada Revenue Agency. Canada has various retirement programs for citizens over 60 years of age.
Retirement pension payment amounts and dates could be confusing, but this article will guide and help you resolve all your queries regarding the payment schedule for December 2024.
Canada Benefits Types
Old Age Security
The Old Age Security is available to each Canadian after turning 65. If you have been employed in Canada and resided in the nation for around 40 years before turning 65, you could receive Full Old Age Pension.
The OAS is a taxable monthly social security payout accessed by most individuals aged 65 or older with annual income less than $142,609. As of December 2024, the basic OAS amount is $718.33 per month for those aged 65 to 74. Whereas for individuals aged 75 or over, the monthly OAS payment is up to $790.16.
Canada Pension Plan
In 2024, the maximum CPP retirement benefit for new beneficiaries aged 65 would be around $816.52. However, it is important to note that the payment amount will be determined based on your circumstances.
The amount you could get depends on what you own and earn during the working days. The amount you have contributed to the plan during the working period will decide how much you will get. If you have worked less than 40 years and did not contribute much to the CPP, your payout will be reduced.
Canada Child Benefit
Households with children under 18 years can qualify for the Canada Child Benefit, a nontaxable monthly payment to support with cost associated with raising a child. The CCB comprises Child Disability Benefit and other related programs. The primary caregiver responsible for looking after the child can claim for the CCB.
The CCB payment amount will be evaluated on the basis of Adjusted Household total income from July 2023 to June 2024. Unfortunately, if your payment has stopped or has been decreased, you need to inform the officials as soon as possible.
Canada Disability Benefit
Disabled individuals in Canada receive pensions from the Government if they are unable to work. If you are suffering from a disability and cannot perform regular tasks, you can get monthly CDB.
The payment amount depends on the disability percentage. The more severe the disability is the higher would be the payment amount.
Ontario Trillium Benefit
OTB is a refundable tax benefit to support households with low incomes in paying costs associated with energy, sales and property. The credit is usually paid by the Province of Ontario and is governed by the CRA.
In order to receive OTB, you need to file your tax return before the deadline. Applicants with benefits exceeding $360 can opt for monthly or annual payments. While those with benefits less than $360 are funded yearly in July.
Advanced Canada Workers Benefit
ACWB is a support offered by the CRA to individuals who are grappling with low income and rely on households to support their lives. Under this scheme, you could receive a payment worth $2461.
We would like to inform you that instead of the monthly payment, the amount is credited in three instalments. The first and the second instalments have already been issued by the officials in January and July, respectively.
Climate Action Incentive Payment
The Carbon Rebate in Canada is a nontangible amount paid to qualify individuals and households to ease the pricing associated with the cost of federal pollution.
You do not have to apply for the CAIP to receive the payment, as the CRA automatically determines your eligibility while you file your T1 Income Tax and Benefit Return.
CPP, OAS, CCB, CDB, OTB, ACWB, CAIP Credit Dates
Now, the coming main concern is the payment dates for the following month. To help you understand the dates, we have shared a table in this section that includes the benefits along with their payment dates. Here is the payment schedule for various CRA benefits for December 2024.
| Benefits | September Payment Date 2024 |
| CPP | 25 December 2024 |
| OAS | 26 December 2024 |
| CCB | 20 December 2024 |
| CDB (Veteran) | 26 December 2024 |
| OTB | 10 December 2024 |
| ACWB | 12 October 2024 |
| CAIP | 15 October 2024 |
It is important to note if the payment dates clash with the weekend or public holiday, the amount is disbursed on the next working day or a day before the actual payment day.
All We Know
If you believe you are eligible for the payment but did not receive it, it is advisable to contact the officials. But before reaching out to the official, we recommend to wait for 10 working days.
Sometimes, it could take a bit longer for the amount to reflect in your bank account. You can track your payment using the My account or by visiting the leading website of the CRA.
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