Tax credits and rebates for the 2024 tax year — and what to do with them

Jordan Lavin
Nearly half of Canadians (49%) aren’t confident that they know how to maximize their tax credits and benefits to get a bigger tax return, according to a tax survey by H&R Block. Yet a similar number of us (46%) say we’re relying on getting a tax refund to pay for things like debt, bills and everyday expenses.
Whether you need help with the cost of sales taxes, raising a child, or managing the cost of living, let’s explore the tax credits and rebates that can put more money back in your pocket and take the pressure off your finances.
Key takeaways: Tax credits and rebates in Canada
There’s an abundance of tax credits and rebates tailored to various situations. Here are the four most common ones claimed by Canadians:
- GST / HST credit. Up to $340 per adult; up to $179 per child under 19
- Canada child benefit (CCB). Up to $7,787 per child under six years old; up to $6,570 for each child between six and 17
- Canada workers benefit (CWB). Up to $1,590 to individuals and $2,739 to families; a supplement of up to $821 for people with a disability
- Canada carbon rebate (CCR). $95-$270 for individuals; +50% of the base amount for married couples; +25% of the base amount for each child under 19. A 20% supplement for those who live outside of a census metropolitan area
There are also various provincial tax credits and benefits accessible to residents, providing financial relief and incentives based on your specific locations and circumstances.
Tax credits and rebates for the 2024 tax year
There are dozens of tax credits and rebates available depending on your circumstances, but these are some of the most popular.
1. GST/HST credit
You pay goods and services tax (GST) or harmonized sales tax (HST) on just about everything you buy. If you have low to modest income, you can get a quarterly credit from the government to offset the cost of sales tax.
Am I eligible?
The GST/HST credit is available to residents of Canada who are 19 and over, as well as younger people who are married or have dependent children. Individuals and families with income under $54,704 can claim the GST/HST tax credit, and you may qualify with income up to $72,244 depending on your marital status and how many children you have.
How much will I get?
The basic formula for the GST/HST tax credit is $340 per adult, plus $179 per child under 19. You may qualify for an additional credit of up to $179 if you’re a single parent and your household income is over $11,511.
Using this formula, a family of four would be eligible for a credit of up to $1,038.
People | Quantity | Credit | Subtotal |
Adults | 2 | $340 | $680 |
Children | 2 | $179 | $358 |
Total | $1,038 |
If your income exceeds $44,324, your credit will be reduced by $1 for every $20 you earn above that threshold. A single person will no longer qualify once their income exceeds $54,704, while a couple with two children will no longer qualify once their income exceeds $65,084.
When is the credit distributed?
The GST/HST credit is paid in quarterly instalments in January, April, July, and October each year.
How to apply
All you have to do to apply for the GST/HST tax credit is file your taxes each year. Because this is a refundable tax credit, you can receive it even if you don’t have any income to report.
If you are new to Canada, you can apply for the GST/HST tax credit before you file your first tax return. The forms to apply are available on the CRA website.
2. Canada child benefit (CCB)
The Canada Child Benefit is a tax credit that provides parents and guardians of children under 18 years old with a monthly payment.
Am I eligible?
The Canada Child Benefit is available to everyone who is primarily responsible for raising a child under 18 years of age. This is typically presumed to be the female parent, but can also be another parent (including in a same-sex couple), grandparent, or other person who takes the lead role in caring for the child. Only one person can claim the CCB for each child.
You may be eligible to receive a partial benefit if you have shared custody of a child, or full custody on a temporary basis.
How much will I get?
The amount you will receive from the Canada Child Benefit depends on how many children you have, their ages, whether or not you’re married, and your family’s income.
The calculation for the CCB is $7,787 per year for each child under six years old and $6,570 for each child between six and 17. This amount is gradually reduced for families earning over $36,502 and rapidly reduced for families earning over $79,087.
If your child has a disability, you may qualify for the Child Disability Benefit (CDB), which pays up to an additional $3,322 per child.
When is the benefit distributed?
The CCB is paid to parents each month during the year. If your total benefit amount is less than $240 for the year, you’ll receive a single payment in July.
How to apply
You can apply for the Canada Child Benefit as soon as your child is born, or as soon as you become the primary caregiver of a child under 18 years of age.
If you become responsible for a child by way of birth, you can apply for the CCB at the same time you register the birth with your province or territory. If you become responsible for a child another way, or you didn’t apply when you registered the birth, you can apply online through the CRA My Account or by mail.
3. Canada workers benefit (CWB)
The Canada Workers Benefit is a tax credit that helps people who are working and earn a low income.
Am I eligible?
The Canada Workers Benefit is available to residents of Canada 19 years of age and older, except full-time students, who earn employment income less than the specified threshold for their province. If you qualify for the CWB and the disability tax credit, you may also qualify for a disability supplement.
How much will I get?
The Canada Workers Benefit pays up to $1,590 to individuals and $2,739 to families, plus a supplement of up to $821 for people with a disability.
The maximum benefit is paid to singles who earn less than $26,149 and families with income under $29,833. Individuals and families may be eligible for a partial benefit with income under $36,749 and $48,093, respectively.
The maximum disability supplement is paid to individuals with income under $36,748 and families with income under $48,091. Partial benefits may be paid to individuals and families with income less than $42,222 and $53,565, respectively.
Note that the maximum income to receive the CWB is lower in Quebec, but higher in Alberta and Nunavut.
When is the benefit distributed?
The Canada Workers Benefit is paid as a refundable tax credit when you file your income taxes.
When you first become eligible for the CWB, the CRA will automatically send you in advance payments totalling 50% of your benefit. These payments are made three times per year, in January, July, and October. The remainder will be paid at the end of the year when you file your taxes.
How to apply
To apply for the Canada Workers Benefit and/or the disability supplement, complete Schedule 6 and submit it when you file your tax return.
4. Canada carbon rebate (formerly climate action incentive payment (CAIP))
The Canada Carbon Rebate (CCR) is a tax credit designed to help Canadians with the cost of the federal carbon tax. The program includes an additional supplement for residents of small and rural communities.
Am I eligible?
The CCR is available to residents of participating provinces who are 19 years of age and older.
Participating provinces | Non-participating provinces |
Alberta | British Columbia |
Saskatchewan | Yukon Territory |
Manitoba | Northwest Territories |
Ontario | Nunavut |
Newfoundland and Labrador | Quebec |
New Brunswick | |
Nova Scotia | |
Prince Edward Island |
A 20% supplement for residents of small and rural communities is available to residents of participating provinces who live outside a census metropolitan area. You can get detailed information on whether you qualify from the CRA website.
How much will I get?
The amount you receive depends on where you live and how many children you have. The payment is highest for residents of Alberta, and lowest for residents of New Brunswick. It is not offered to residents of British Columbia, Quebec, or the territories.
The annual benefit ranges from $95 to $270 for individuals, plus an additional 50% of the base amount for married couples, plus an additional 25% of the base amount for each child under 19. A supplement of 20% of the total payment is added for those who live outside of a census metropolitan area.
The CCR is a universal tax credit, so there is no minimum or maximum income to qualify for the full amount.
When is the payment distributed?
CCR payments are made four times per year in January, April, July, and October.
How to apply
Your application for the Canada Carbon Rebate is made automatically when you file your taxes. In order to receive payments for your children, they will need to be registered for the Canada Child Benefit.
Discontinued tax credits and benefits
Canada Worker Lockdown Benefit
The Canada Worker Lockdown Benefit was a temporary financial support program introduced by the federal government during the Covid-19 pandemic. It provided $300 per week to eligible Canadians who were unable to work due to government-imposed lockdowns and did not qualify for Employment Insurance. The benefit was discontinued on May 7, 2022.
Temporary GST/HST Exemption
There was a temporary break on the GST or HST on certain items from December 14, 2024 to February 15, 2025. During the break, no tax was charged on qualifying items including most foods and beverages and children’s items.
Ontario Staycation Tax Credit
The Ontario Staycation Tax Credit was a temporary tax credit that allowed Ontario residents to claim 20% of eligible accommodation expenses when travelling within the province, up to $1,000 for individuals and $2,000 for families. This non-refundable tax credit was only available during the 2022 tax year.
Other provincial tax credits and benefits
1. Ontario trillium benefit (OTB)
Residents of Ontario may be eligible for the Ontario Trillium Benefit, an amalgamation of three tax credits designed to help low-income individuals and families with the cost of energy, property taxes, and sales tax.
Am I eligible?
Eligibility for the Ontario Trillium Benefit is determined individually for each of the three programs it comprises:
- Energy and property tax: The energy and property component is available to residents of Ontario who pay rent, property taxes, live on a reserve, or live in a public or non-profit long-term care home.
- Northern Ontario Energy Credit: The Northern Ontario Energy Credit is available to residents of Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury (including the City of Greater Sudbury), Thunder Bay, and Timiskaming who pay rent or property taxes, live on a reserve, or live in a public or non-profit long-term care home.
- Ontario Sales Tax Credit: The Ontario Sales Tax Credit is available to residents of Ontario 19 years of age and older.
How much will I get?
The amount you can get from the Ontario Trillium Benefit depends on how you qualify for each of the three embedded programs:
- Energy and property tax: The energy and property tax component pays a maximum of $1,248 for adults and $1,421 for seniors. The benefit is reduced by $1 for every $50 you earn over $33,169.
- Northern Ontario Energy Credit: The Northern Ontario Energy Credit pays up to $180 for individuals and $277 for families. The amount is reduced by $1 for every $100 you earn over $59,704 for families and $46,436 for individuals.
- Ontario Sales Tax Credit: The Ontario Sales Tax Credit pays up to $360 for each family member. The benefit is reduced by $1 for every $25 you earn over $33,169 for families, or $26,535 for individuals.
When is the payment distributed?
If you’re eligible for the Ontario Trillium Benefit, you will receive a payment each month. If your entitlement is $360 or less, you will receive one payment in July.
How to apply
You can apply for the Ontario Trillium Benefit when you file your taxes. The Ontario Sales Tax Credit portion is handled automatically, but you’ll need to complete the form ON-BEN to apply for the energy, property tax, and Northern Ontario energy components.
2. Alberta child and family benefit
The Alberta Child and Family Benefit is a tax credit for residents of Alberta to help with the cost of raising children.
Am I eligible?
The Alberta Child and Family Benefit is open to residents of Alberta who qualify for the Canada Child Benefit.
How much will I get?
The Alberta Child and Family Benefit is divided into two components: base and working.
The base component is paid to everyone who is eligible, and pays up to $1,469 for the first child plus $735 for each additional child under 18 years of age to a maximum of four children.
The working component is paid to everyone with employment income of at least $2,760 and pays an additional amount depending on the number of children you have. Families with one child receive $752, families with two children receive $1,437, families with three children receive $1,847 and families with four or more children receive $1,982.
The base component is gradually reduced for families earning over $27,024 and the working component is gradually reduced for families earning over $45,285.
When is the benefit distributed?
This tax credit is paid by mail or direct deposit in quarterly installments in February, May, November, and August of each year.
How to apply
You can apply for the Alberta Child and Family Benefit at the same time you apply for the Canada Child Benefit – most commonly when you register a birth online with the Alberta Online Birth Registry.
What to do with your tax credits and rebates
If you’re eligible for these tax credits, you’re probably feeling the pinch of higher prices and rising interest rates. Here are a few ideas to put your tax credits to good use:
- Pay off high interest debt: As interest rates go up, it’s becoming more and more expensive to carry debt. Consider using your tax credits to pay off your highest interest debt, like credit cards and unsecured lines of credit.
- Pay for essentials: It goes without saying that life is more expensive in Canada than it has ever been before. Use your tax credits to help pay for essentials like rent, hydro, gas, and groceries.
- Start or add to an emergency fund: If you’ve paid off all your high-interest debt, consider starting an emergency fund to save for a rainy day. Choose a high-interest savings account to grow your savings faster.
- Save for a large expense (down payment, education/upskilling): Whether you’re planning to buy a house, a car, or a postsecondary education, you may want to use your tax credits to help you get closer to your goal. Don’t forget to use the right savings programs to take advantage of further tax savings.
- Consider GICs: If you have extra money but aren’t sure what to do with it, a guaranteed investment certificate (GIC) is a great way to invest it for the short-term. You can get terms ranging from one month to five years, and get a guaranteed return without having to worry about what’s happening in the economy.
Also read: 7 smart ways to spend your tax refund
The bottom line
Make the most of the tax credits you’re entitled to. Make sure you apply for all the programs you think you may be eligible for, and put your payments to good use by paying off debt and saving for your future.