Key Takeaway Box
- CRA benefit payments include Canada Pension Plan (CPP), Old Age Security (OAS), Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit, Canada Child Benefit (CCB), Ontario Trillium Benefit (OTB), Climate Action Incentive Payment (CAIP), and Advanced Canada Workers Benefit (ACWB).
- CRA benefit payment dates vary depending on the type of benefit and the payment method. You can check the payment dates on the CRA website or sign up for direct deposit to receive your payments faster and more securely.
- The CRA benefit payment dates for February 2024 are as follows:
| Benefit | Payment Date |
| CPP | February 27, 2024 |
| OAS | February 27, 2024 |
| GST/HST | February 5, 2024 |
| CCB | February 20, 2024 |
| OTB | February 9, 2024 |
| CAIP | February 15, 2024 |
| ACWB | February 12, 2024 |
Hey, Hustlers! ๐
Are you wondering when your next CRA benefit payment is coming? Do you want to know how much money you can expect to receive from the government in February 2024? If so, youโve come to the right place. In this article, weโll tell you everything you need to know about the CRA benefit payment dates for February 2024, including what benefits are available, how to check your payment status, and how to get your payments faster and more securely. Letโs get started!
What are CRA benefit payments?
CRA benefit payments are monthly or quarterly payments that the Canada Revenue Agency (CRA) sends to eligible individuals and families who qualify for various federal and provincial programs. These payments are designed to help you with your living expenses, reduce your taxes, and support your financial well-being.
Some of the most common CRA benefit payments are:
- Canada Pension Plan (CPP): This is a monthly payment that provides retirement income, disability benefits, survivor benefits, and childrenโs benefits to eligible contributors and their families.
- Old Age Security (OAS): This is a monthly payment that provides income support to seniors aged 65 and older who meet the legal status and residence requirements.
- Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit: This is a quarterly payment that helps low- and modest-income individuals and families offset the GST/HST they pay on goods and services.
- Canada Child Benefit (CCB): This is a monthly payment that helps eligible parents with the cost of raising children under 18 years of age.
- Ontario Trillium Benefit (OTB): This is a monthly or annual payment that combines the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit for eligible residents of Ontario.
- Climate Action Incentive Payment (CAIP): This is an annual payment that helps offset the cost of the federal carbon pollution pricing system for residents of Alberta, Saskatchewan, Manitoba, and Ontario.
- Advanced Canada Workers Benefit (ACWB): This is a quarterly payment that provides a refundable tax credit to low- and modest-income workers who are employed or self-employed.
How to check your CRA benefit payment status?
If you want to know how much money you will receive from the CRA benefit payments, or if you want to confirm that your payment has been issued, you can check your payment status online using one of the following methods:
- My Account: This is a secure online portal that allows you to access your personal tax and benefit information, including your payment history, benefit calculations, and direct deposit information. You can log in to My Account using your CRA user ID and password, or by using your online banking credentials through the [Sign-in Partner] option.
- MyBenefits CRA: This is a mobile app that allows you to view your benefit and credit payment amounts and dates, update your personal information, and manage your direct deposit information. You can download the app for free from the [App Store] or [Google Play].
- Automated Benefits Application: This is a toll-free phone service that allows you to apply for the CCB and the GST/HST credit, and to check the status of your benefit payments. You can call 1-800-387-1193 and follow the instructions.
IMPORTANT LINKS:
- What Expenses Can You Deduct from Your Rental Income? (Updated 2024)
- How to Get Your EITC Refund Faster in 2024
- CPP, RRSP, TFSA, FHSA, AMT and OAS Changes: What You Need to Know for 2024
- What Happens to Your CPP and OAS Benefits When Your Spouse Dies?
- How to Get the Grocery Rebate Payments in Canada in January 2024
How to get your CRA benefit payments faster and more securely?
If you want to receive your CRA benefit payments faster and more securely, you can sign up for direct deposit. Direct deposit is a service that allows you to have your payments deposited directly into your bank account, without having to wait for a cheque in the mail or go to a financial institution to cash it. Direct deposit is also safer, as it reduces the risk of lost, stolen, or damaged cheques.
To sign up for direct deposit, you can use one of the following methods:
- My Account: You can log in to My Account and select โDirect depositโ under the โPaymentsโ tab. You will need to provide your bank account information, such as your financial institution number, branch number, and account number. You can also update or cancel your direct deposit information through My Account.
- MyBenefits CRA: You can use the app to manage your direct deposit information, such as adding, changing, or removing a bank account. You will need to provide the same information as above.
- Financial institution: You can sign up for direct deposit through your online banking service, if your financial institution offers this option. You will need to provide your social insurance number and select the type of payment you want to receive by direct deposit, such as CPP, OAS, GST/HST, CCB, OTB, CAIP, or ACWB.
- By phone: You can call the CRA at 1-800-959-8281 and provide your bank account information and the type of payment you want to receive by direct deposit. You will need to have your social insurance number and your most recent notice of assessment or benefit statement handy.
What are the CRA benefit payment dates for February 2024?
Now that you know what CRA benefit payments are, how to check your payment status, and how to sign up for direct deposit, letโs look at the payment dates for February 2024. The payment dates vary depending on the type of benefit and the payment method. Here is a summary of the payment dates for February 2024:
| Benefit | Payment Date |
| CPP | February 27, 2024 |
| OAS | February 27, 2024 |
| GST/HST | February 5, 2024 |
| CCB | February 20, 2024 |
| OTB | February 9, 2024 |
| CAIP | February 15, 2024 |
| ACWB | February 12, 2024 |
As you can see, most of the benefit payments are made at the end of the month, except for the GST/HST credit, which is paid quarterly, and the OTB and the ACWB, which are paid monthly or annually depending on your preference. The CAIP is also paid annually, but the payment date may vary depending on your province of residence.
If you receive your payments by cheque, you can expect to receive them within 10 business days after the payment date. However, if you sign up for direct deposit, you can receive your payments on the same day as the payment date, or even earlier in some cases.
Conclusion
We hope this article has helped you understand the CRA benefit payment dates for February 2024, and how to get the most out of your benefit payments. If you have any questions or concerns, you can contact the CRA by phone, mail, or online. You can also visit the [HustleHub] website for more tips and resources on how to manage your money, grow your income, and achieve your financial goals. Thanks for reading, and happy hustling! ๐ฏ
Source:ย (1) Benefit payment dates โ Canada.ca. https://www.canada.ca/en/revenue-agency/services/child-family-benefits/benefit-payment-dates.html. (2) Benefits payment dates โ Canada.ca. https://www.canada.ca/en/services/benefits/calendar.html.