Karen Minn
The Canada Revenue Agency (CRA) is set to begin issuing a major combined payment of up to $2,600 this Friday to eligible Canadians.
This lump-sum payout includes various federal benefits such as OAS, CPP adjustments, Canada Workers Benefit (CWB) advance payments, and GST/HST credits, all intended to support low- and moderate-income earners.
With the July 15 deadline approaching fast, it’s crucial to know if you qualify, how to claim, and what steps to take right now to avoid missing out.
What Is the $2,600 CRA Payment?
The CRA is consolidating multiple benefit streams for eligible Canadians into one larger direct deposit. The payment includes:
- Old Age Security (OAS) and Canada Pension Plan (CPP) increases or retroactive adjustments.
- CWB Advance Payments for low-income working individuals or families.
- GST/HST Credit for eligible individuals.
- Provincial or territorial supplements, depending on residency.
When bundled together, these benefits can total as much as $2,600, providing timely support for those facing rising living expenses.
CRA Payment Timeline
The bulk deposit will be made on Friday, July 11 or July 12, depending on your financial institution. If you’ve already set up direct deposit and filed your taxes for 2024, you’re likely on track to receive it.
However, if you haven’t filed your return or updated your banking info, the deadline to do so is July 15, 2025, to be included in this round of payments.
Breakdown of Potential CRA Payments
| Benefit Name | Estimated Maximum Amount |
|---|---|
| OAS & CPP Adjustments | Up to $1,800 combined |
| Canada Workers Benefit (CWB) Advance | Up to $600 |
| GST/HST Credit (Quarterly) | Up to $266.50 |
| Regional Supplements | Varies by province/territory |
Depending on your personal situation, you may receive the full amount or only some of the components.
Eligibility Criteria
You may qualify for this $2,600 deposit if you meet any of the following:
- Are a senior receiving OAS and CPP.
- Are a low-income worker eligible for CWB.
- Have filed your 2024 tax return.
- Are eligible for the GST/HST credit.
- Reside in a province offering additional supplements.
- Have direct deposit enabled through CRA or your bank.
It’s essential that all information, including your bank details and tax status, is accurate and up to date with the CRA.
How to Claim Your Payment
To ensure you receive your payment this week, follow these steps:
- File your 2024 tax return if you haven’t already. This ensures CRA has your income data to assess eligibility.
- Set up direct deposit through your CRA My Account or via your bank.
- Review your CRA profile to confirm you’re enrolled in eligible benefit programs.
- Check your bank account on Friday for incoming deposits.
Why You Shouldn’t Wait
The July 15 deadline is the cut-off for this current round of CRA payments. If you delay filing or updating your details, your payment could be deferred to the next cycle, or worse, not issued at all.
Missing out means potentially losing access to hundreds—or thousands—of dollars meant to support your household.
Why It Matters
This large CRA deposit can help you:
- Offset grocery and utility costs.
- Reduce credit card debt.
- Support elderly family members or dependents.
- Save for unexpected emergencies.
Even if you don’t qualify for the full $2,600, you might still receive a substantial portion, depending on which benefits you’re eligible for.
The CRA’s upcoming $2,600 deposit is a rare opportunity for eligible Canadians to receive bundled financial support in one convenient payment. With the Friday release date and July 15 deadline, it’s important to act now.
Make sure your taxes are filed, your bank details are current, and you’re enrolled in applicable CRA programs. Whether you’re a senior, a worker, or a low-income household, this payment can offer vital relief during challenging financial times.
FAQs
Will I automatically receive this payment?
Yes, if you’ve filed your 2024 taxes and qualify for any of the eligible benefits. No separate application is needed.
What if I only qualify for one benefit, like the GST credit?
You will only receive the portion you’re eligible for. However, it may still be deposited along with other payments if you’re receiving multiple benefits.
What happens if I file after July 15?
You may still receive benefits, but they will be delayed until the next payment cycle. To get this week’s deposit, act before July 15.