If you’re looking for the payment dates for Canada’s GST & HST, CPP, OAS, and CAIP benefits for August 2024, you’re in the right place. The Canada Revenue Agency (CRA) regularly updates the payment schedules for these benefits, ensuring that beneficiaries are informed of when they can expect their payments. Knowing these dates is crucial for managing personal finances, as it helps citizens plan their budgets, pay bills on time, and reduce financial stress. Below, we’ll break down the payment dates for each benefit for August 2024 and provide an overview of how these payments are structured.
GST/HST Credit Payment Date for August 2024
The GST/HST credit is a quarterly tax-free payment designed to offset the cost of GST or HST for eligible low- to moderate-income individuals and families. This credit is paid on the 5th of the first month of each quarter. However, there is no scheduled payment for August 2024. Here is the 2024 payment schedule for the GST/HST credit:
| Month | Payment Day | GST/HST Credit Payment Date 2024 |
|---|---|---|
| January | Friday | 5th |
| April | Friday | 5th |
| July | Friday | 5th |
| October | Friday | 4th |
CPP Payment Date for August 2024
The Canada Pension Plan (CPP) provides monthly payments to those who have contributed to the plan during their working years. These payments are taxable and serve as a source of income during retirement. For August 2024, the CPP payment will be made on Wednesday, August 28th. Below is the complete schedule for CPP payments in 2024:
| Month | Payment Day | CPP Payment Date 2024 |
|---|---|---|
| January | Monday | 29th |
| February | Tuesday | 27th |
| March | Tuesday | 26th |
| April | Friday | 26th |
| May | Wednesday | 29th |
| June | Wednesday | 26th |
| July | Monday | 29th |
| August | Wednesday | 28th |
| September | Wednesday | 25th |
| October | Tuesday | 29th |
| November | Wednesday | 27th |
| December | Friday | 20th |
CAIP Payment Date for August 2024
The Climate Action Incentive Payment (CAIP) is a quarterly payment provided to residents of certain provinces to offset carbon pricing costs. Payments are made on the 15th of the first month of each quarter. There is no payment scheduled for August 2024. Below is the CAIP payment schedule for 2024:
| Month | Payment Day | CAIP Payment Date 2024 |
|---|---|---|
| January | Monday | 15th |
| April | Monday | 15th |
| July | Monday | 15th |
| October | Tuesday | 15th |
OAS Payment Date for August 2024
The Old Age Security (OAS) pension is a monthly payment available to Canadians aged 65 and older. Like the CPP, OAS payments are taxable. The OAS payment for August 2024 is scheduled for Wednesday, August 28th. Here is the full OAS payment schedule for 2024:
| Month | Payment Day | OAS Payment Date 2024 |
|---|---|---|
| January | Monday | 29th |
| February | Tuesday | 27th |
| March | Tuesday | 26th |
| April | Friday | 26th |
| May | Wednesday | 29th |
| June | Wednesday | 26th |
| July | Monday | 29th |
| August | Wednesday | 28th |
| September | Wednesday | 25th |
| October | Tuesday | 29th |
| November | Wednesday | 27th |
| December | Friday | 20th |
Knowing these dates can significantly help in managing your financial planning and reducing anxiety related to uncertain payment arrivals. Make sure to mark your calendar with these dates to ensure that you’re prepared when the payments are made.
FAQs:
What happens if a payment date falls on a weekend or holiday?
Payments are typically made on the last working day before the weekend or holiday.
Are GST/HST credits taxable?
No, GST/HST credits are tax-free and do not need to be reported as income.
Can I receive my payment through direct deposit?
Yes, all CRA payments can be received via direct deposit for faster and more secure transactions.