The CRA (Canada Revenue Agency) offers a variety of benefits to support Canadians, including payments related to the GST and HST (Harmonized Sales Tax), CPP (Canada Pension Plan), OAS (Old Age Security), and the CAIP (Climate Action Incentive Payment). Knowing about the payment dates, eligibility criteria, amounts, and application procedure for these advantages is vital for beneficiaries to regulate their finances valuably. The CRA administers the CCB, providing tax-free monthly payments to shortlisted families to help with the costs of growing children not greater than 18. This program is aimed at reducing child poverty and supporting family income stability. Check the CRA Payment Dates August 2024 for the various benefits from the post below.
CRA Payment Dates August 2024
The CRA (Canada Revenue Agency) is an integrated agency accountable for managing tax laws and bringing several social and economic advantages schemes on behalf of the Government of Canada. Established to ensure the integrity and fairness of the tax system, the CRA plays a crucial role in collecting revenue and providing services to Canadians. The CRA collects income taxes from individuals, corporations, and trusts. It ensures compliance with tax laws by overseeing tax filings, processing returns, and collecting taxes owed. This comprises both personal & corporate income taxes, ensuring the proper reporting and CRA Payment Dates August 2024 of taxes due.
canada.ca CRA Benefits 2024- Overview
| Topic | CRA Payment Dates August 2024 |
| Organized by | Government of Canada |
| Beneficiary | Canadians |
| CRA Payment Dates August 2024 | Check Table Below |
| Year | 2024 |
| OAS Payment Date August 2024 | 28-07-2024 |
| Category | Finance |
| Website | canada.ca |
CRA Payment Dates August 2024
- GST/HST Credit – Payments for the GST/HST credit are made quarterly. For 2024, the payment dates are 5th January, 5th April, 5th July, and 4th October.
- (Canada Pension Plan) CPP – CPP benefits are paid monthly. The payment date for August 2024 is August 28.
- Old Age Security (OAS) – OAS benefits are also paid monthly. The payment date for August 2024 is August 28.
- (Climate Action Incentive Payment) CAIP – CAIP payments are made quarterly. For 2024, the dates include 15th April, 15th July, 15th October, and 15th January, 2025.
| Benefit | Payment Date |
| GST/HST Credit | 5th January, 5th April, 5th July, and 4th October, 2024 |
| Canada Pension Plan (CPP) | August 28, 2024 |
| Old Age Security (OAS) | August 28, 2024 |
| Climate Action Incentive Payment (CAIP) | 15th October, and 15th January, 2025 |
| Alberta child and family benefit (ACFB) | August 27, 2024 |
| Veteran disability pension | August 29, 2024 |
| Ontario trillium benefit (OTB) | August 9, 2024 |
| Canada child benefit (CCB) | August 20, 2024 |
CRA Benefit Eligibility 2024
- GST/HST Credit – To be eligible for the GST/HST credit, individuals must be Canadian residents and meet the income requirements set by the CRA. The credit is made for low – moderate income group families and singles. Selection is made on the basis of annual tax returns.
- CPP – Eligibility for CPP advantages consists of the individual having constructed a minimum 1 valid donation to the CPP while their years of working. The amount they get is dependent upon the no. of years and the amount donated.
- OAS – To get shortlisted for OAS, singles should be 65 years or more and have lived in Canada for minimum 10 years when he/she accomplished the age of 18. The amount depends on how long they have lived in Canada since turning 18.
- CAIP – The CAIP is available to residents of provinces that do not own their own carbon pricing systems. Eligibility is automatic based on tax return information.
Canada CRA Benefit Payment Amount 2024
- GST/HST Credit – For the period from July 2023 to June 2024, the maximum annual amounts are $496 for singles, $650 for married or those with a partner by common-law, and $171 per child not greater than 19.
- CPP – The amount of CPP benefits varies depending on the individual’s contributions. The average monthly amount for new beneficiaries (as of October 2023) is approximately $710.41, while the maximum monthly amount is $1,306.57.
- OAS – The maximum monthly OAS payment is $707.68 as of the most recent update. There are additional supplements for low-income seniors.
- CAIP – The payment amounts vary by province. For example, in Ontario, the quarterly payment is approximately $244 for a single adult and $122 per child under 18.
How To Claim CRA Payment August 2024
- GST/HST Credit – Individuals do not need to apply separately for the GST/HST credit; eligibility is automatically assessed when filing your annual income tax return. The candidate must make sure that he/she shall file their tax return on time to receive the credit.
- CPP – To apply for CPP, individuals can do so online through their My Service Canada Account or by completing a paper application. It is recommended to enroll approx six months before the candidate wants his/her pension to start.
- OAS – Applications for OAS can be submitted online through My Service Canada Account or by mailing a completed application form. Individuals should apply six months before they turn 65.
- CAIP – No separate application is needed for CAIP. Eligibility and payments are automatically determined based on your tax return information.
FAQS On CRA Payment Dates August 2024
Payments are typically deposited directly into the candidate’s bank account. If he/she misses a payment, contact the CRA to ensure that the banking information is correct and the candidate’s application is up to date.
For most benefits like CPP and OAS, the candidate can receive payments outside of Canada, provided he/she meets the eligibility requirements. However, the GST/HST credit and CAIP require them to be living in Canada.
The candidate can update their banking information electronically via CRA My Account or by contacting the CRA directly.
Some benefits, like the GST/HST credit and CAIP, are non-taxable. However, CPP and OAS benefits are declared to be taxable income and must be interpreted on their tax return.
Yes, the candidate can appeal decisions related to the candidate benefit applications. The process varies depending on the benefit but generally involves submitting a formal request for reconsideration
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