As February 2025 unfolds, Ontario residents can anticipate three significant benefit payments from the Canada Revenue Agency (CRA). These payments aim to support families, seniors, and individuals in managing living expenses.
Canada Child Benefit (CCB)
The Canada Child Benefit is a tax-free monthly payment designed to assist families with children under 18 years old.
Eligibility requires being a Canadian resident and the primary caregiver of a child under 18. The maximum annual payment is up to $7,787 per child under 6 and $6,570 per child aged 6 to 17, with amounts adjusted based on family income. The CCB payment for February 2025 is scheduled for February 20.
Ontario Trillium Benefit (OTB)
The Ontario Trillium Benefit combines three credits: the Ontario Sales Tax Credit, the Ontario Energy and Property Tax Credit, and the Northern Ontario Energy Credit.
To qualify, individuals must be Ontario residents as of December 31 of the previous year and file an annual income tax return.
The benefit amount varies based on income and specific credits, with payments for February 2025 scheduled for February 10.
CPP and OAS Payments
For seniors, the Canada Pension Plan (CPP) and Old Age Security (OAS) provide essential financial support.
Eligibility for CPP requires being at least 60 years old and having made contributions to the plan, while OAS eligibility requires being 65 or older with at least 20 years of residency in Canada after age 18.
Both CPP and OAS payments for February 2025 are set for February 26.
| Benefit | Eligibility | Maximum Annual Payment | February 2025 Payment Date |
|---|---|---|---|
| Canada Child Benefit (CCB) | Canadian residents, primary caregivers of children under 18 | Up to $7,787 per child under 6; up to $6,570 per child aged 6-17 | February 20 |
| Ontario Trillium Benefit (OTB) | Ontario residents as of December 31 of the previous year | Varies based on income and specific credits | February 10 |
| Canada Pension Plan (CPP) and Old Age Security (OAS) | CPP: Age 60+ with contributions; OAS: Age 65+ with 20 years residency in Canada after age 18 | Varies based on individual contributions and residency | February 26 |
These CRA benefits scheduled for February 2025 are designed to provide financial assistance to eligible Ontarians, supporting families with children, helping with living expenses, and ensuring income security for seniors.
By understanding these benefits and their payment dates, residents can better plan their finances and access the support available to them.
FAQs
What is the Canada Child Benefit (CCB)?
The CCB is a tax-free monthly payment to assist families with children under 18 years old in covering the costs of raising children.
How do I qualify for the Ontario Trillium Benefit (OTB)?
To qualify for the OTB, you must be an Ontario resident as of December 31 of the previous year and file an annual income tax return.
When are the CPP and OAS payments for February 2025?
Both CPP and OAS payments are scheduled for February 26, 2025.
