As the winter blues subside and monthly bills loom, Ontarians can look forward to some relief from additional government benefits coming in February and March.
Canada’s pension system and old age security
For residents aged 65 and over, the maximum monthly Canada Pension Plan (CPP) payment is $1,306.57.
For Old Age Security (OAS) pensions, individuals between the ages of 65 and 74 with annual incomes of less than $142,609 are eligible to pay up to $707.68 per month. People age 75 and older who earn less than $148,179 per year can receive up to $778.45 per month.
Canada Pension Plan and Old Age Security payments are sent monthly. Some upcoming dates for these payments are:
Ontario factory or emergency assistance
For people facing financial hardship, such as purchasing necessities like food or paying for housing, the Ontario government provides assistance known as Ontario Works, or social assistance.
In addition, emergency assistance provides short-term financial support during a crisis or emergency.
Eligibility is based on household income, ownership, and family size, and only one application is required per family. Upcoming payment dates are:
child tax credit
The Canada Revenue Agency (CRA) oversees the tax-free monthly Child Tax Credit benefit for eligible households with dependent children under the age of 18. CCBs may incorporate child disability benefits in conjunction with relevant state and territory programs.
The Ontario Child Benefit provides up to $1,607 per year per child, depending on an individual’s net household income and the number of children under the age of 18 in their care.
The next two payments will be:
Ontario trillium benefits
The Ontario Trillium Benefit, which is paid monthly, includes the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.
Individuals between the ages of 18 and 64 can receive up to $1,194 per year. If you’re 65 or older, you can receive up to $1,360 per year.
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