How do February's extra days affect your benefit payments?

February 2024 is a leap year, which means that the month will have 29 days. But does a leap year affect when residents will be getting federal and provincial tax benefits?

According, to the Canada Revenue Agency (CRA), there are several key dates to remember when it comes to benefit payments this coming February. 

Canada Child Benefit (CCB)

Eligible parents will be seeing their Canada Child Benefit (CCB) mid-month, on February 20. Those who qualify for the federal government's Canada Child Benefit, are also automatically eligible for the Alberta Child and Family Benefit. The provincial portion of the benefit will be paid out on February 27.

"The Canada Revenue Agency administers the Alberta Child and Family Benefit, which is a Canada Child Benefit (CCB) related program, on behalf of the Alberta provincial government,"

Amounts paid from June 2023 till June 2024 include: 

• $1,410 ($117.50 per month) for the first child
• $705 ($58.75 per month) for the second child
• $705 ($58.75 per month) for the third child
• $705 ($58.75 per month) for the fourth child

ACFB payments are made separately from the CCB payments and issued in August, November, February and May.

Canada Pension Plan (CPP) 

Those who receive CPP, retirement pension and disability, children's and survivor benefits will see payments on February 27.

Old Age Security 

Old Age Security payments, including Guaranteed Income Supplement, Allowance and Allowance for the Survivor will also be paid out on February 27.

GST/HST credit

In February there is no GST/HST tax credit paid out. The next payment date for this credit is April 2024.

Canada Workers Benefit

Those who are eligible for the Canada Workers Benefit will not see payments until July 2024.

Veteran disability pension

Those who are eligible will see payments on February 28.

Climate Action Incentive Payment

These payments will not occur again until April 2024.

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