Quebec residents can receive payments from these government benefits and credits this July
You could be eligible to receive thousands of $.
The Quebec flag. Right: A person holding Canadian money.
As July rolls around, so does a slew of new government benefits and credits being sent out by Revenu Quebec and the Canada Revenue Agency.
Given the high inflation and escalating cost of living in Quebec, many residents, particularly low-income families, are seeking additional income opportunities, whether through employment or financial aid programs offered by the Canadian and Quebec governments.
Among the benefits and credits scheduled for distribution in July are the Canada Child Benefit, Quebec Pension Plan, and Quebec public-sector pensions. It's important to confirm your eligibility for these benefits and credits, as you may be eligible for thousands of dollars.
Here's everything you need to know:
Quebec Pension Plan (QPP)
The Québec Pension Plan is a mandatory public insurance program designed for individuals aged 18 and above earning more than $3500 annually, per Reveiu Quebec.
It aims to offer essential financial security to those who have worked in Québec and their families in case of retirement, death, or disability. Similar to the Canada Pension Plan elsewhere in Canada, 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), mandates contributions from regular and casual, full-time and part-time employees in the education, public service, and health and social services sectors until they accrue a maximum of 40 years of credited service or until December 30 of the year they turn 69.
The plan uses years of service for both pension calculation and eligibility, with full-time work throughout the year equating to a full year of credited service, and part-time work calculated proportionally.
For those who collect a pension and opt for direct deposit, the public-sector retirement pension will be paid on the 15th of each month for the rest of your life, per Retraite Quebec.
If the 15th falls on a weekend or statutory holiday, your pension will be paid on the preceding business day. If you opted for payment by cheque, the cheque 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 Québec, offers financial support to families through a refundable tax credit, per Retraite Quebec.
It includes two main components: the Family Allowance payment, which provides assistance to all eligible families with dependent children under 18, and a supplement for school supplies amounting to $121 per child aged four to 16 as of September 30th, intended for families receiving the Family Allowance and with 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 designed to assist individuals and families with low to modest incomes by offsetting the GST or HST they pay, per the Canada Revenue Agency.
Eligibility also extends to potential payments from provincial and territorial programs. Automatic consideration for the GST/HST credit occurs upon filing taxes.
Payment Date: July 5, 2024
Canada Workers Benefit (CWB)
According to the CRA, the Canada Workers Benefit is a refundable tax credit aimed at supporting individuals and families with low incomes who are employed. It comprises a basic amount and a disability supplement, both claimable when filing income tax returns.
Eligible recipients may 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 is designed to provide immediate financial relief, assisting workers in managing the increasing cost of living.
Payment Date: July 12, 2024
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly payment provided to eligible families to assist with the costs associated with raising children under 18 years old. This benefit may also include the Child Disability Benefit and contributions from provincial and territorial programs.
Families with 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