Canadian seniors and low-income individuals could receive significant financial relief this month with three new potential payments for Canadians: $2800, $1850, and $960.
These payments are designed to help with the rising cost of living, particularly for seniors and those facing economic hardships. Here’s what you need to know about these potential payments, including eligibility criteria, payment dates, and other important details.
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Potential $2800, $1850 & $960 New Payments For Canadians
The Canadian government has introduced several programs to support citizens during tough economic times. This month, three potential payments could be issued:
- $2800 Payment: This is related to the Canada Emergency Response Benefit (CERB), which was initially offered to employed and self-employed Canadians affected by the COVID-19 pandemic. Although the CERB program has ended, there is speculation about a one-time top-up payment for eligible recipients.
- $1850 Payment: This payment is associated with the Canada Housing Benefit (CHB), designed to help low-income renters with their housing costs. An increase in benefits this month could potentially raise annual support to $1850.
- $960 Payment: This amount pertains to the Old Age Security (OAS) pension, which provides monthly payments to Canadian seniors aged 65 and over. The OAS payment is adjusted annually for inflation, and this month’s increase could add an additional $960 to the annual pension.
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Eligibility Criteria
CERB ($2800)
- Eligibility: CERB was originally available to employed and self-employed Canadians who lost income due to the pandemic. The potential $2800 top-up is expected to be available to those who previously qualified for CERB. However, official criteria for this new payment have not yet been released.
CHB ($1850)
To get the Canada Housing Benefit, you must:
- Be a low-income renter paying rent for your primary residence.
- Have a household income that falls below the federal government’s threshold.
- Be an existing recipient of CHB payments, as the increase is expected to be applied automatically to current recipients.
OAS ($960)
The OAS pension is available to Canadian citizens or permanent residents who:
- Are 65 years old or older.
- Have resided in Canada for at least ten years after turning eighteen.
- To get the entire OAS payment, you must meet the minimum income criteria.
Deposit News and Payment Dates
CERB Top-Up Payment ($2800)
- Deposit News: There is no official confirmation or announcement yet regarding the $2800 top-up payment for CERB recipients. Consequently, deposit dates are currently unknown. Stay updated with information from the Canadian government for any new developments.
Canada Housing Benefit ($1850)
- Deposit News: The increase in the Canada Housing Benefit (CHB) is expected to be reflected in payments starting this month. If you already receive CHB payments, the increase should be put automatically into your bank account. The Canada Revenue Agency (CRA) is anticipated to announce the specific deposit dates soon, likely towards the end of the month.
Old Age Security ($960)
- Deposit News: OAS pension payments are usually issued on the first of each month. The increase, which adds an additional $960 annually, should be reflected in your payment on August 1, 2024.
Key Dates to Remember
- CERB Top-Up: No confirmed dates are available at this time. For the latest updates, regularly check the Canada Services website.
- CHB Increase: Payments are expected to start by the end of this month, with funds likely arriving at the beginning of next month.
- OAS Payment: The increase should be reflected in the payment scheduled for August 1, 2024.
These potential payments could provide significant financial relief for eligible Canadians. While the $2800 CERB top-up remains uncertain, the $1850 CHB increase and the $960 OAS adjustment are more likely and could offer a welcome boost to many households.
If you believe you might be eligible for any of these payments, ensure your details are current with the relevant authorities and stay informed through official announcements.
FAQs
Who is eligible for the $2800 CERB payment?
Eligibility is likely to include those who previously received CERB. However, official criteria for this potential top-up have not been released yet.
How can I qualify for the $960 OAS increase?
To qualify, you must be 65 or older, a Canadian resident, and meet the residency and income requirements for the OAS pension.
When will the $1850 Canada Housing Benefit be paid?
The increase is expected to start by the end of this month, with deposits likely arriving in early August.
