4 CRA Benefits Set to Increase in August 2024, benefits, Important dates, Check details, Know all

Published on: September 11, 2024

4 CRA Benefits Set to Increase in August 2024 : The Canada Revenue Agency (CRA) acts as a tax department for the government of Canada, provinces and territories. With the rise in the cost of living, several additional key benefits will be provided to Canadians.

The changes may apply from the July end or in August 2024. The program has been launched by the Canadian government to reduce financial stress among people.

The maximum amount an individual can receive per year will increase from $1,428 to $1,518 and for couples it will be $650 to $680.

4 CRA Benefits Set to Increase in August 2024: Overview

Aspects	Details
Program name	CRA payment increase August 2024
Managing government	Canadian government
Authority name	Canada revenue agency (CRA)
Increased CRA benefit payment eligibility 2024	A candidate should be 19 years old or moreOne should have a legal domicile in Canada
Article category	Finance
Official website	www.canada.ca

CRA benefits dates!

Aspect	Dates
Canada child benefit	19^th July 2024
GST/HST credit	5^th July 2024
Advanced Canada workers benefit	12^th July 2024
Canada carbon rebate	15^th July 2024

How to claim the new CRA benefits?

Candidates who are eligible for CRA benefits can file a claim easily using the below-given steps:

Head over to the official website www.canada.ca.
Navigate the CRA option there on the homepage.
Click on CRA and go through the initials.
Navigate the online application form and follow all the given instructions carefully.
Fill out the application form by entering all the required information correctly. Make sure you have entered all the credentials properly and accurately.
Upload all the required documents as asked by following all the given instructions.
Recheck the entered information and click on the submit button. You will get notified regarding your claim soon.

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4 CRA Benefits Set to Increase in August 2024

The Canada Revenue Agency provides numerous benefits to the candidates including OAS, CPP, CCR, ACWB, ODSP, and many others. The payment amount under each benefit is different with different eligibility criteria. This year, CRA payment dates are:

CCB (Canada child benefit)

The child benefits under six years of age have been increased from $7,437 to $7,786.92. Also, there will be a proportionate increase for children aged between six to seventeen years. In this, the adjusted family net income is calculated at first and included in the tax returns to determine the benefit.

CRA payment schedule
August	20^th August 2024
September	20^th September 2024
October	18^th October 2024
November	20^th November 2024
December	13^th December 2024

GST/HST credit

There is an increase in the maximum annual credit for a single person from $496 to $519 and for a couple, it increases from $650 to $680. Families and individuals with low to moderate incomes can use this tax-free quarterly contribution to live a better standard of living. Yearly, the amount is changed according to the living costs and income levels.

GST/HST payment schedule
January	5^th January 2024
April	5^th April 2024
July	5^th July 2024
October	4^th October 2024

Gain for advanced Canadian workers

The maximum yearly amount of low-income worker subsidy has increased from $1,428 to $1,518. The main purpose of this benefit is to promote labor participation encouraging people to work while providing financial gain.

ACWB payment dates
January	12^th January 2024
July	12^th June 2024
October	11^th October 2024

Canada carbon rebate

This benefit is also called the climate action incentive payment. It has been implemented in rural supplement to meet the living cost at various locations. All the qualifying rural people will get 20% of the additional benefit. This benefit helps lower federal pollution pricing costs.