Get Your New Canada Workers Benefit on July 2024. On July 12, 2024, eligible Canadians can expect the next quarterly payment for the Advanced Canada Workers Benefit (ACWB). This benefit is crucial in helping the country’s lowest-paid workers meet their daily needs. Administered by the Canada Revenue Agency (CRA), the ACWB is a part of the broader Canada Workers Benefit (CWB) program.
Canada Worker’s Benefit
The Canada Workers Benefit (CWB) is designed to support individuals and families who are employed but have a low income. The CWB consists of two main components: the basic amount and the disability supplement.
In July 2023, the program introduced advance payments through the ACWB, which provides recipients with 50% of their CWB entitlement in three installments.
How Does the Advanced Canada Workers Benefit Work?
The ACWB payments are determined based on the previous year’s tax return. Recipients who received ACWB in 2023 do not need to reapply for 2024; the CRA will automatically issue the payments. This system ensures that eligible workers receive financial support promptly without additional administrative burdens.
Eligibility for Canada Workers Benefit
To qualify for the CWB, applicants must meet the following criteria:
- Residency: Be a resident of Canada for the entire year.
- Age: Be 19 years or older by December 31 or live with a spouse, common-law partner, or child.
- Income: Meet the specific income requirements, which vary by region.
For the 2022 tax year, the income thresholds for eligibility were as follows (2023 levels are yet to be updated by CRA):
| Region | Family with Children | Family without Children | Single with Children | Single without Children |
|---|---|---|---|---|
| Canada (excluding Alberta, Quebec, and Nunavut) | $43,212 | $43,212 | $43,212 | $33,015 |
| Quebec | $35,913 | $45,060 | $21,488 | $29,073 |
| Nunavut | $58,932 | $58,932 | $58,932 | $58,925 |
| Alberta | $43,952 | $43,952 | $43,952 | $33,093 |
Ineligibility for Canada Worker’s Benefit
Certain conditions disqualify individuals from receiving the CWB:
- Full-Time Students: Those studying full-time for more than 13 weeks in the year, unless they have an eligible dependent.
- Incarceration: Individuals who spent at least 90 days in prison or a similar facility during the year.
- Diplomatic Status: Diplomats and their families working in Canada but not liable to pay Canadian taxes.
Eligibility for the Disability Supplement
To receive the CWB disability supplement, applicants must:
- Disability Tax Credit: Qualify for the disability tax credit and have an accepted Form T2201 on file with the CRA.
Income limits for the disability supplement, based on 2022 levels, are as follows:
| Region | Family with Children | Family without Children | Single with Children | Single without Children |
|---|---|---|---|---|
| Canada (excluding Alberta, Quebec, and Nunavut) | $48,124 | $48,124 | $48,124 | $37,932 |
| Quebec | $39,613 | $48,760 | $25,189 | $32,773 |
| Nunavut | $65,757 | $65,757 | $65,757 | $65,750 |
| Alberta | $48,886 | $48,886 | $48,886 | $38,007 |
Payment Amounts for Canada Workers Benefit
- Individuals: For those living alone with an adjusted net income of less than $23,495, the annual CWB is $1,518, decreasing as income increases up to $33,015. Eligible individuals will receive 50% of their benefit, amounting to approximately $253, on July 12.
- Families: For families with an adjusted net income below $26,805, the annual CWB is $2,616, also decreasing as income increases up to $43,212. Eligible families will receive around $436 on July 12.
- Disability Benefit: Individuals with disabilities and an adjusted net income of less than $33,018 are eligible for an annual disability supplement of $737, resulting in a quarterly payment of about $122.
How to Apply for the Canada Workers Benefit
Applications for the CWB can be submitted online using certified tax software or via paper by completing and submitting Schedule 6, Canada Workers Benefit. For the disability supplement, both the base credit and the disability supplement should be claimed if the applicant or their spouse qualifies for the disability tax credit.
For ACWB payments, no separate application is required. The CRA automatically determines eligibility based on the income tax and benefit return. It is crucial to file the income tax return by November 1 of the fiscal year to ensure receipt of advance payments.
Upcoming ACWB Payment Dates
The scheduled ACWB payment dates are:
- July 12, 2024
- October 11, 2024
- January 10, 2025
What to Do If You Do Not Receive Your ACWB Payment
If you do not receive your ACWB payment on the expected date, first verify your eligibility for the CWB. If eligible, contact the CRA. Note that:
- Holiday Payments: Payments scheduled on federal holidays or weekends will be issued on the preceding business day.
- Delayed Payments: Allow 10 business days past the expected date before contacting the CRA regarding a missing payment.
Conclusion
The Advanced Canada Workers Benefit (ACWB) provides essential financial support to low-income workers in Canada, with the next payment scheduled for July 12, 2024. To continue receiving these benefits, ensure you file your income tax return on time and meet the eligibility requirements. This program plays a crucial role in helping workers and their families manage everyday expenses, contributing to financial stability and well-being.
