Government of Canada Unveils Improved Benefits Program for 2024

December 29, 2023

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10 min read

The government of Canada provides a variety of benefits programs to help Canadians with everything from the cost of raising children to supporting you in retirement. Learn which federal government benefits program you qualify for and which government benefits are getting enhancements in 2024.

CPP Benefit Enhancements

The Canada Pension Plan (CPP) is a mandatory government program that covers most workers in Canada. The purpose of the CPP is to provide retirement income to working Canadians and their families.

Starting in January 2019, most Canadians made an additional contribution to their CPP as part of the enhancement program. All Canadians who paid this additional amount will receive a boost to their CPP retirement pension, post-retirement benefits, disability pension, and survivors pension when they retire.

The idea is that you pay a little extra now to gain more security in retirement. By enhancing the CPP, the government is trying to reduce the number of Canadian families who don’t have enough savings for retirement.

CPP Enhancements in 2024

As of January 1, 2024, the second additional CPP contribution comes into effect. This addition is referred to as CPP2.¹ This contribution is aimed at high earners. Those who meet the financial threshold criteria for CPP2 will make this contribution in addition to the base CPP and the first additional CPP contribution.

In 2024, if you earn less than $68,500, you don’t have to pay the second additional CPP contribution.

To qualify:

Must be 60 years or over
Have made one valid contribution to the CPP

To receive Canadian Pension Plan payments, you must apply through Service Canada. This is not an automatic payment.

The amount you receive depends on:

When you start your pension
Contributions to CPP
Average annual earnings

CPP payment dates for 2024 are²:

January 29, 2024
February 27, 2024
March 26, 2024
April 26, 2024
May 29, 2024
June 26, 2024
July 29, 2024
August 28, 2024
September 25, 2024
October 29, 2024
November 27, 2024
December 20, 2024

Canada OAS

Canada Old Age Security (OAS) is a monthly payment available to those 65 years and over. If the government has enough of your information on file, you’ll be enrolled automatically. Otherwise, you’ll have to apply for the benefit.

Eligibility criteria:

For those living in Canada, you must meet the following criteria:

65 years or older
Canadian citizen or legal resident
Resided in Canada for at least 10 years since you were 18 years old

For those living outside of Canada, you must meet the following criteria:

65 years or older
You were a Canadian citizen or legal resident on the day before you left Canada
Resided in Canada for at least 20 years since you were 18 years old

Maximum payments:

65 to 74 is $707.88 per month
75 and over $778.45 per month

OAS payment dates for 2024 are:

Payment dates are the same as CPP

Dental Coverage

In December 2022, the interim Canada Dental Benefit (CDB) was introduced to help families who make less than $90,000 a year and don’t have dental benefits to cover the cost of dental care for children under 12. You can apply for this plan until June 30, 2024.

Eligibility criteria for CDB:

You must meet all of the following requirements to be eligible for the benefit period ranging from July 1, 2023 to June 30, 2024:

You have a child under 12 years old
Your child receives dental care in Canada between July 1, 2023, and June 30, 2024
Your child isn’t covered by private dental insurance
Your child’s dental costs aren’t covered by another government program
You’re the only parent receiving CDB or half of CDB if you share custody
You and your spouse or common-law partner filed your 2022 tax returns
Your income is less than the yearly threshold (e.g., $90,000 in 2022)
Only one application per benefit period

The maximum CDB payment:

$260, $390, or $650 depending on your income
Maximum of 2 payments per child

Canadian Dental Care Plan

In January 2024, the CDB interim benefit ends, and is replaced by the Canada Dental Care Plan (CDCP). This is a federally delivered public dental plan available to eligible Canadians of all ages.

Eligibility criteria for CDCP:

To be eligible, you must meet all of the following requirements:

You have no access to dental insurance
You have a family net income of less than $90,000
You are a Canadian resident
You filed your taxes the previous year

When can you apply?

The CDCP is set to open in the following phases:

December 2023 - Seniors 87 years and above
January 2024 - Seniors 77 to 86
February 2024 - Seniors 72 to 76
March 2024 - Seniors 70 to 71
May 2024 - Seniors 65 to 69
June 2024 - Adults with a valid Disability Tax Credit certificate
June 2024 - Children under the age of 18

Canada Child Benefit

The Canada Child Benefit (CCB) is a tax-free monthly payment made to eligible families to assist with the cost of raising kids. You can apply through the Canada Revenue Agency (CRA).

Eligibility criteria:

You live with a child under 18 years old
You are the primary caregiver
You are a resident of Canada
You, your spouse, or common-law partner must be a Canadian citizen, permanent resident, protected person, temporary resident, or valid permit holder, qualify under the Indian Act

The maximum CCB payments for July 2023 to June 2024 for each child are:

Under 6 years: $7,437 per year ($619.75 per month)
6 to 17 years: $6,275 per year ($522.91 per month)

CCB payment dates for 2024 are:

January 19, 2024
February 20, 2024
March 20, 2024
April 19, 2024
May 17, 2024
June 20, 2024
July 19, 2024
August 20, 2024
September 20, 2024
October 18, 2024
November 20, 2024
December 13, 2024

Goods and Services Tax/Harmonized Sales Tax

The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free payment delivered quarterly to Canadians with low to modest monthly income. The purpose is to help offset the GST/HST that you pay. As long as you file your income tax return, you are automatically considered for this credit.

Eligibility criteria:

Canadian resident
19 years or above
If under 19, you must have (or had) a spouse or common-law partner or have children

The maximum GST/HST tax credit for July 2023 to June 2024:

$496 if single
$650 if married or you have a common-law partner
$171 for each child under 19

CCB payment dates for 2024 are:

July 5
October 5
January 5
April 5

Canada Workers Benefit

Low-earning individuals and families might also be eligible for the Canada Workers Benefit (CWB). This is a refundable tax credit you can claim when you file your income tax return. If you already receive CWB, you don’t need to reapply.

The CWB is made up of two parts:

Basic amount
Disability supplement

Eligibility criteria:

Resident of Canada
19 years or above
Or you live with your spouse, common-law partner, or child
Income is below the net income level set by your province or territory

The maximum CWB tax credit for July 2023 to June 2024:

Basic amount
$1,428 for single individuals
$2,461 for families
Disability supplement
$737 for singles
$737 for families

CWB payment dates for 2024 are:

January 12, 2024
July 12, 2024
October 11, 2024

Use Your Benefits to Get a Cash Advance

Simply by filing your tax returns each year, you are automatically considered for many government of Canada benefits and tax credits. The purpose is to provide you with additional financial assistance and a guaranteed income supplement to help with the costs of daily life.

If you need a cash advance before you receive your next benefit payment, try Bree. You can use your government benefit payments as a valid source of income to help you qualify for a cash advance of up to $250.

For more information on Government of Canada benefits and tax credits, visit the Government of Canada website.