As July arrives, so do a range of new government benefits and credits from Revenu Quebec and the Canada Revenue Agency.
With high inflation and the rising cost of living in Quebec, many residents, especially low-income families, are looking for additional income opportunities, whether through jobs or financial aid programs from the Canadian and Quebec governments.
Among the benefits and credits distributed in July are the Canada Child Benefit, Quebec Pension Plan, and Quebec public-sector pensions. It’s essential to check your eligibility for these benefits and credits, as they could amount to thousands of dollars.
Quebec Pension Plan (QPP)
The Quebec Pension Plan is a mandatory public insurance program for individuals aged 18 and above earning more than $3,500 annually, according to Revenu Quebec.
It aims to provide financial security to those who have worked in Quebec and their families in cases of retirement, death, or disability. Similar to the Canada Pension Plan, the QPP consists of a base plan and an additional plan introduced in 2019.
Payment Date: July 31, 2024
Public-sector Pension Plan (RREGOP, PPMP)
The Government and Public Employees Retirement Plan (RREGOP) requires contributions from regular and casual, full-time and part-time employees in the education, public service, and health and social services sectors until they reach a maximum of 40 years of credited service or until December 30 of the year they turn 69.
The plan calculates pensions and eligibility based on years of service, with full-time work equating to a full year of credited service and part-time work calculated proportionally.
For those receiving a pension via direct deposit, the public-sector retirement pension is paid on the 15th of each month for life, according to Retraite Quebec.
If the 15th falls on a weekend or holiday, your pension will be paid on the preceding business day. If you opted for payment by cheque, it will be issued no later than 48 hours before that date.
Payment Date: July 15, 2024
Family Allowance
The Family Allowance, funded by the Government of Quebec, offers financial support to families through a refundable tax credit, according to Retraite Quebec.
It includes the Family Allowance payment for all eligible families with dependent children under 18 and a supplement for school supplies of $121 per child aged four to 16 as of September 30th, intended for families receiving the Family Allowance and having custody of the child during the payment month.
Payment Date: July 2, 2024
GST/HST Credit
The GST/HST credit is a tax-free quarterly payment to help individuals and families with low to modest incomes offset the GST or HST they pay, according to the Canada Revenue Agency.
Eligibility also includes potential payments from provincial and territorial programs. You are automatically considered for the GST/HST credit when you file your taxes.
Payment Date: July 5, 2024
Canada Workers Benefit (CWB)
According to the CRA, the Canada Workers Benefit is a refundable tax credit designed to support low-income individuals and families who are employed. It includes a basic amount and a disability supplement, both claimable when filing income tax returns.
Eligible recipients can receive advance payments of up to 50% of the CWB through the Advanced Canada Workers Benefit (ACWB), issued automatically in three installments without requiring an application. This initiative provides immediate financial relief to help workers manage the rising cost of living.
Payment Date: July 12, 2024
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly payment to eligible families to help with the costs of raising children under 18. This benefit may also include the Child Disability Benefit and contributions from provincial and territorial programs.
Families with an adjusted family net income (AFNI) below $36,502 receive the maximum benefit amount per child, which is $7,787 annually ($648.91 per month) for children under 6 years old and $6,570 annually ($547.50 per month) for children aged 6 to 17 years old.
Payment Date: July 19, 2024
Be sure to confirm your eligibility for these benefits and credits to make the most of the available support.