FPT stands for Federal-Provincial-Territorial payments provided by the Canada Revenue Agency to support the taxpayers of the nation. This tax-free payment which is provided by the FPT government is affected by the individual’s income, number of members in a family and several other factors. The FPT provides tax incentives to enhance and boost economic growth, rationality and social welfare of the country.
The FPT covers several benefit programs administered by the Canada Revenue Agency (CRA). These are:
- GST/HST Credit: The Goods and Services Tax and Harmonized Sales Tax (GST/HST) credit is a monthly credit paid to those who pay GST/HST.
- Canada Child Benefit (CCB): The CCB was introduced to support the families of dependent children.
- Other Provincial and Territorial Benefits: The Provincial and Territorial government provides several other benefits such as- British Columbia Climate Action Tax Credit, Ontario Senior Homeowners’ Property Tax Grant, Alberta Child and Family Benefit.
The below article will provide you with insightful information about the FTP benefits and its benefits.
Highlights of Canada FPT Payment dates 2024
| Title | Canada FPT Payment benefit dates 2024 |
| Country | Canada |
| Authority | Canada Revenue Agency (CRA) |
| Government | Federal, Provincial, and Territorial |
| Beneficiaries | Citizens of Canada |
| Post Category | Finance |
| Official Website | https://www.canada.ca/ |
Eligibility Criteria
The people who are receiving these benefits and those who want to receive these benefits must fulfill these below standards:
- Age Criteria: Every individual applying for these benefits must be at least 19 years old.
- Occupancy: The people must be living in Canada, which means they must have the Canadian Residency proof.
- Income Criteria: The claimants must have low and limited sources of income.
- Income Tax Return: The income tax return must be filed by all the applicants.
- Essential Documents: While applying for these benefits, claimants must have their necessary documents with them such as Social Insurance Number (SIN).
- Dependency of a child: If an individual is applying for the Canada Child Benefit, then their child must be living with them, and they are the primary caretaker of them.
However, the eligibility criteria may differ for each benefit program, such as:
- GST/HST Credit: The net income of the GST/HST Credit beneficiaries must be less than $48,012 for singles, if a couple is filing together then their net income must be less than $52,012. A family with 2 children must have a net income less than $56,012. People who are 19 years and above, who have a spouse, common-law partner or a child are also eligible for the GST/HST credit.
- Canada Child Benefit: People who are applying for the CCB must have a child younger than 18 years. Canadian citizens who are regular tax-payers. A couple with one child must have their net income less than $120,000. A family with two or more children must have their net income less than $140,000.
- Other Provincial and Territorial Benefits: Its income and age criteria is dependent on which province or territory you are residing in.
FPT Payment Dates
- GST/HST Payment Dates 2024
| Month | Date |
| January | 5th of January |
| April | 5th of April |
| July | 5th of July |
| October | 4th of October |
- Canada Child Benefit Dates 2024
| Month | Date |
| January | January 19, 2024 |
| February | February 20, 2024 |
| March | March 20, 2024 |
| April | April 19, 2024 |
| May | May 17, 2024 |
| June | June 20, 2024 |
| July | July 19, 2024 |
| August | August 20, 2024 |
| September | September 20, 2024 |
| October | October 18, 2024 |
| November | November 20, 2024 |
| December | December 13, 2024 |
- Other Provincial and Territorial Payment Dates- The Provincial and Territorial dates are dependent on their government.
Claiming Process
Applying for these benefits can be automatic or you may have to apply for these benefits through an application form. The applying procedure is dependent on which tax credit you’re appealing for. For example- If you are applying for the GST credit, then you do not have to go through an application procedure, it is completely automatic. On the other hand, in CCB the people who want to apply need to go through an application procedure.
| Home Page | https://www.easthamptonchamber.com/ |
FAQs of Canada FPT Payment Dates
The federal, provincial and territorial government works together to create some benefit programs aiming at the low- and middle-class people. These programs help in alleviating the financial strain from the people of the nation.
The payment dates are completely dependent on the type of benefit you are applying for. For example- if you are applying for GST/HST, then it is a quarterly payment given in January, April, July and October. CCB is a monthly payment benefit program.
Residents of Canada, older than or equal to 19 years old and acquire a Social Insurance Number (SIN). Furthermore, every applicant must be filing their income tax return each year.
Riya Claire is the Editor-in-Chief of the East Hampton Chamber Portal. She holds a degree in Mass Communication, an MBA in Finance, and a diploma in HR, making her a versatile professional for an online portal