The Canada Revenue Agency (CRA) will be introducing five new benefit payments in April 2025 for the purpose of financially assisting eligible Canadians. These payments are intended to help families, low-income individuals, seniors, and those facing economic challenges. The advanced cost of living makes the new benefits all the more relevant to ensure more Canadians receive the support they require.
Canada Child Benefit (CCB) Increase
The Canada Child Benefit (CCB) will be increased in April 2025, thereby enhancing the amount of money paid on a monthly basis to families with children. Such a new rate will provide assistance to parents in terms of expenses involved in raising children, which are connected with education, health care, and daily needs. The updated benefits will be offered according to family income and the number of children living in the family unit.
GST/HST Credit Boost
Adjustments to the GST/HST credit shall be made in order to increase the level of support to be given to low- and moderate-income Canadians. This tax-free payment proceeds by way of a quarterly remittance intended to offset expenditures incurred due to goods and services taxes. April 2025 payments will be increased for eligible recipients based on their household income and family status.
Canada Workers Benefit (CWB) Expansion
In 2025, the Canada Workers Benefit (CWB), which helps low-income earners, will be expanded further. Payments under the new, enhanced Canada Workers Benefit will deliver increased financial assistance to those who fall below a certain earnings threshold. The intention of this change is to promote people joining the workforce while enabling low-income earners to have sufficient financial support to pay for their basic living needs.
Variables for the Old Age Security (OAS) and Guaranteed Income Supplement (GIS)
The seniors receiving Old Age Security (OAS) and Guaranteed Income Supplement (GIS) will have their payments increased in April 2025. These adjustments have been made in order to accommodate inflation as the price of goods and services increases, thus allowing seniors to purchase more with the help of adjustment payments. The adjustment payments will depend on either income level or age eligibility under the OAS and GIS programs.
Climate Action Incentive Payment
A higher rebate to eligible Canadians is also expected for the Climate Action Incentive Payment (CAIP). This support is meant to offset costs associated with carbon pricing and is distributed quarterly. Increased support in April 2025 will help them with their payments for energy and fuel. Five new benefit payments should help the CRA offer more assistance to eligible Canadians by April 2025.
