July is just around the corner. And for many Canadians, that means crucial financial support is on its way! The Canada Revenue Agency (CRA) is set to disburse 5 important federal benefits this month. Make sure you know exactly when to expect your payments:
1. July 4, 2025: Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit
Kicking off the month, the GST/HST credit provides a tax-free quarterly payment to help individuals and families with low and modest incomes offset the GST or HST that they pay. Get ready for this early boost!
2. July 11, 2025: Advanced Canada Workers Benefit (ACWB)
This benefit is designed to help support low-income workers. If you’re eligible for the ACWB, keep an eye on your bank account for this important payment.
3. July 17, 2025: NEW! Canada Disability Benefit (CDB) – First Payment Date!
The highly anticipated Canada Disability Benefit is making its very first payment to eligible Canadians. This new federal benefit aims to reduce poverty and support the financial security of working-age persons with disabilities. If you’ve applied and been approved, your first payment is days away!
4. July 18, 2025: Canada Child Benefit (CCB)
For families with children, the Canada Child Benefit provides a tax-free monthly payment. Be ready for this vital support for your little ones.
5. July 29, 2025: Old Age Security (OAS) and Canada Pension Plan (CPP)
Our seniors and those receiving disability or survivor benefits through CPP can expect their payments towards the end of the month. These crucial funds provide essential income support.
Ontario Trillium Benefit
For our Ontario residents, your provincial support is also arriving soon:
- July 10, 2025: Ontario Trillium Benefit (OTB) combines the Ontario sales tax credit, the Ontario energy and property tax credit, and the Northern Ontario energy credit. This payment helps eligible Ontarians with energy costs and sales/property taxes. It is set to arrive mid-month!
What You Need to Do NOW:
Your financial well-being is important. By marking these July 2025 benefit payment dates, you can ensure a smoother month ahead by proactively managing your finances.
- Verify Your Direct Deposit: The fastest and most secure way to receive your benefits is via direct deposit. Double-check your CRA My Account to make sure your banking information is up-to-date. If you’re still receiving cheques, consider switching to direct deposit today to avoid any postal delays.
- File Your Taxes: Remember, most of these benefits require you to file your income tax and benefit return annually, even if you have no income. Ensure your 2024 tax return was filed to avoid payment interruptions.
- Stay Informed: Keep an eye on your CRA My Account for personalized payment details and any updates.
- New CDB Recipients: If you’ve applied for the Canada Disability Benefit, July 17th is the day! Be sure to confirm your application status and payment details.
Stay On Top of Your Benefit Payments
Many Canadians miss out on these benefits because they don’t fully understand their financial options. Get experts on your case with Legend Fusions. Our team helps you uncover tax savings, streamline your finances, and build strategies tailored to your goals.
Don’t wait for the next payment to take action. Contact us now and get expert guidance today.
Jeffrey Ross
Jeffrey Ross is an experienced tax accountant focused on US-Canada cross-border taxation, with over three years in the industry, including a key role as client manager at a Canadian tax firm. He provides expertise in corporate and personal tax planning, specializing in non-resident tax, capital gains, CRA and IRS compliance, and retirement planning. Known for his personalized approach, Jeffrey is dedicated to guiding clients with clear, practical advice tailored to complex tax scenarios, aligned with the evolving tax laws.