$1428 Canada Workers Benefit in 2024 – Check CWB Payment Dates & Eligibility

$1428 Canada Workers Benefit: The Canada Workers Benefit (CWB) is a vital tax credit program designed to support working Canadians with low incomes. For 2024, eligible individuals can receive up to $1,428, while families can receive up to $2,461, making it an important financial boost for many households. Administered by the Canada Revenue Agency (CRA), the program aims to reduce poverty, incentivize employment, and ease financial pressures for Canadians across the country.

To better understand how the Canada Workers Benefit 2024 works, this article breaks down the key information you need to know, including payment dates, eligibility criteria, how to apply, and practical examples.

$1428 Canada Workers Benefit 2024

Aspect	Details
Maximum Benefit Amount	$1,428 for individuals; $2,461 for families
Payment Dates	January 12, July 12, October 11, 2024
Eligibility	Low-income earners aged 19+, Canadian residents, with income below regional thresholds
Disability Supplement	Additional $737 for eligible individuals with disabilities
Application Process	Claimed through annual tax return, advance payments available
Official Resource	Canada Workers Benefit (CRA)

The Canada Workers Benefit 2024 is a crucial lifeline for low-income workers, offering financial relief and promoting economic stability. By understanding the eligibility requirements, payment dates, and application process, you can maximize the benefits available to you or your family.

What is the Canada Workers Benefit (CWB)?

The CWB is a refundable tax credit, meaning eligible individuals can receive money even if they owe no taxes. It was introduced to replace the Working Income Tax Benefit (WITB), expanding its reach to provide additional financial support to those with low working incomes.

There are two components to the CWB:

Basic Amount: Available to all eligible individuals and families.
Disability Supplement: An additional payment for eligible individuals with disabilities.

The program is adjusted annually to reflect income thresholds and other criteria, ensuring it meets the needs of Canadians effectively.

Eligibility Criteria for CWB in 2024

To qualify for the Canada Workers Benefit, you must meet the following criteria:

Residency: Be a resident of Canada for the entire year.
Age: At least 19 years old by December 31, 2024, or living with a spouse, common-law partner, or dependent child.
Income Threshold: Your working income must fall below the net income thresholds set for your province or territory.

Ineligibility

You are not eligible for the CWB if:

You are a full-time student enrolled in a recognized educational institution for more than 13 weeks (unless supporting a dependent).
You are incarcerated for at least 90 days during the year.
You are exempt from paying taxes in Canada, such as diplomats or their family members.

For more detailed eligibility guidelines, visit the CRA’s official page.

CWB Payment Amounts for 2024

The benefit amount depends on your income, family size, and eligibility for the Disability Supplement.

Individuals: Maximum benefit is $1,428, reduced as net income exceeds $23,495, and phased out entirely at $33,015.
Families: Maximum benefit is $2,461, reduced as family net income exceeds $26,805, and phased out at $43,212.
Disability Supplement: Adds $737 for eligible individuals, with phase-out thresholds varying by income and family status.

For precise calculations tailored to your situation, use the CRA’s online calculators.

CWB Payment Dates for 2024

The Canada Workers Benefit is paid out in advance payments (up to 50%) and a final payment issued after your tax return is processed. For 2024, the advance payment dates are as follows:

January 12, 2024
July 12, 2024
October 11, 2024

The remaining amount is calculated and distributed after filing your 2024 tax return.

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How to Apply for the $1428 Canada Workers Benefit

To receive the CWB, you need to claim it when filing your annual tax return. Here’s a step-by-step guide:

File Your Tax Return: Complete and submit your return before the deadline. Ensure all income sources are accurately reported.
Complete Schedule 6: Use Schedule 6 (Canada Workers Benefit) to calculate the amount you’re eligible for.
Request Advance Payments: If you’d like to receive part of your benefit in advance, apply through the CRA My Account portal or by completing Form RC201.

Disability Supplement Application

If you qualify for the Disability Tax Credit, ensure Form T2201 is approved by the CRA to receive the additional supplement.

Practical Examples

Example 1: Single Individual

John, a single individual earning $20,000 annually, is eligible for the maximum benefit of $1,428. He opts for advance payments, receiving three installments of $238 each. The remaining amount is issued after filing his tax return.

Example 2: Family with Children

The Smiths, a family earning $30,000 per year, qualify for a partial benefit of $1,500. They apply for advance payments and receive $750 across three installments, with the balance paid after filing their return.