The residents of Ontario are set to receive significant financial support through various benefit programs in September 2024. These benefits aim to assist low and middle-income families and include payments related to the Canada Pension Plan (CPP), Old Age Security (OAS) pensions, and various other credits. In this article, we’ll outline the details of the Ontario Benefit Cheque for September 2024, including payment dates and eligibility criteria.
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Key Benefits for Ontario Residents in September 2024
Canada Pension Plan (CPP) and Old Age Security (OAS) Pension
For eligible Ontarians, the Canada Pension Plan (CPP) and Old Age Security (OAS) pensions will be distributed every month. CPP benefits are provided to individuals aged 65 and over who have made contributions to the plan. In September 2024, eligible CPP recipients will receive a monthly benefit amount of $1,364.60. The payment for this benefit will be issued on the 25th of September 2024.
Similarly, the OAS pension, available to individuals aged 65 and older, will provide a yearly benefit of $8,560. Payments for OAS will also be made on the 25th of September 2024. These benefits are credited directly to the recipient’s accounts without the need for an application process.
GST/HST Tax Credit
The GST/HST Tax Credit is designed to reduce the tax burden on eligible residents. Payments are made quarterly, and the next payment will be issued on October 4, 2024. To qualify for this credit, individuals must be aged 19 years or older and meet certain income criteria.
Child Tax Credit
The Child Tax Credit is a significant benefit for families with children under 18 years of age. Payments are based on the Adjusted Net Family Income from the previous year. Families with an Ontario Trillium Benefit (OTB) of $360 or less for 2024 will receive this benefit as a lump sum in early September. The payment date for the Child Tax Credit in September 2024 is the 20th.
Ontario Trillium Benefits
Ontario Trillium Benefits are provided to support residents with various credits, including Energy and Property Tax Credit, Energy Credit, and Sales Tax Credit. For September 2024:
- Energy and Property Tax Credit: $1,194 for individuals aged 18-64 and $1,360 for those aged 65 and over.
- Sales Tax Credit: $345.
- Energy Credit: Up to $265, depending on household size.
Payments for these benefits will be made on September 10, 2024, through direct deposit.
Climate Action Incentive Payment
To combat rising pollution prices, the Climate Action Incentive Payment will be provided as a non-taxable benefit. This payment aims to offset the costs associated with pollution and will be distributed quarterly. For September 2024, the payment will be made on October 15, 2024.
Summary of Payment Dates for September 2024
Here is a summary of the payment dates for various benefits in Ontario:
- Canada Pension Plan (CPP): September 25, 2024
- Old Age Security (OAS): September 25, 2024
- GST/HST Tax Credit: October 4, 2024
- Child Tax Credit: September 20, 2024
- Ontario Trillium Benefits: September 10, 2024
- Climate Action Incentive Payment: October 15, 2024
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The Ontario Benefit Cheque for September 2024 will provide crucial financial support to many residents, including pensioners, families with children, and those affected by pollution costs. By staying informed about these benefits and their payment dates, Ontarians can better manage their finances and make the most of the support available to them. For more detailed information and updates, visit the Canada Revenue Agency website.