The Goods and Services Tax (GST)/Harmonized Sales Tax (HST) credit is a vital financial aid for low- and moderate-income Canadians. With the 2024 payment schedule now released, understanding how it works can help you stay prepared.
From eligibility criteria to checking your payment status, here’s everything you need to know about Canada’s next extra GST payment.
Canada GST Payment
The GST/HST credit is a quarterly payment designed to offset the taxes Canadians pay on everyday goods and services. Here are the key details for 2024:
| Feature | Details |
|---|---|
| Next Payment Date | October 4, 2024 |
| Maximum Annual Amount | $519 for singles, $680 for couples, $179 per child |
| Eligibility | Canadian residents, 19+ with filed 2023 taxes |
| Payment Frequency | Quarterly (January, April, July, October) |
| Application Required | No separate application required; just file taxes |
Payment Dates for 2024
GST/HST payments follow a quarterly schedule. The upcoming dates are:
- October 4, 2024
- January 3, 2025
- April 4, 2025
These dates ensure consistent support throughout the year, allowing Canadians to better manage their finances.
Payment Amounts
For the 2023 tax year (payments from July 2024 to June 2025), the credit amounts are:
- Single individuals: Up to $519
- Married/common-law couples: Up to $680
- For each child under 19: $179
The exact amount depends on your adjusted family net income, with lower-income households receiving the maximum benefit.
Eligibility Criteria
To qualify for the GST/HST credit, you must:
- Be at least 19 years old (or a parent or spouse/common-law partner).
- Reside in Canada for income tax purposes.
- File a 2023 tax return before the deadline.
Eligibility is primarily based on your family income. For example, a single individual earning less than $20,000 annually is likely to receive the full $519.
Checking Your Payment Status
Staying on top of your GST payments is simple. Here’s how you can check your status:
- Log in to your CRA My Account on the Canada Revenue Agency website.
- Go to the Benefits and Credits section.
- View details of your GST/HST Credit, including amounts and dates.
If you haven’t received your payment within 10 business days of the scheduled date, contact the CRA for assistance.
Tips for Smooth Payments
Avoiding delays and maximizing your GST credit benefits is easy with these tips:
File Your Taxes on Time
Filing your 2023 tax return is the most critical step. Without it, you won’t qualify for the credit.
Update Your Information
Changed addresses or family situations? Notify the CRA immediately to avoid payment disruptions.
Opt for Direct Deposit
Direct deposit ensures faster, hassle-free payments. Funds are transferred directly to your bank account, saving you the wait for a cheque.
Use CRA Tools
Estimate your GST credit using the CRA’s Child and Family Benefits Calculator. It provides a clear picture of what to expect based on your income and family size.
Explore Additional Benefits
Beyond the GST credit, several provinces offer complementary programs:
- BC Climate Action Tax Credit (British Columbia)
- Ontario Trillium Benefit (Ontario)
Check your provincial programs to see if you qualify for additional financial support.
By staying proactive and informed, you can make the most of the GST credit and other available benefits in 2024. Timely action will ensure smooth payments and provide valuable support throughout the year.
