The Canada Revenue Agency (CRA) is set to release the quarterly Goods and Services Tax (GST) and Harmonized Sales Tax (HST) credit payments for eligible Canadians in October 2024.
This financial support, designed to assist low- and moderate-income individuals, is provided throughout the year to help cover the additional cost of the GST and HST on everyday purchases.
The next payment is scheduled for October 4, 2024, and in this article, we will cover the eligibility criteria, payment amounts, and other key details.
Canada GST Payment
The GST/HST credit is a quarterly payment issued by the CRA to Canadians who qualify based on their income. These payments are distributed in January, April, July, and October each year. For the fiscal year running from July 2024 to June 2025, the second payment will be released on October 4, 2024.
The amount a recipient gets varies based on several factors, such as income, family status, and number of children.
The maximum amount for an individual in 2024 is $519, and for those with a common-law partner or spouse, the amount can go up to $680. Additionally, each child under 19 years of age qualifies for an extra $179 annually.
Here’s a breakdown of the expected payment amounts for the 2024 financial year:
| Recipient | Amount (Annual) |
|---|---|
| Single applicant | $519 |
| Married/common-law couple | $680 |
| Each child under 19 | $179 |
The CRA calculates these payments based on the previous year’s tax return, so those who have filed their 2023 taxes will be eligible to receive the October 2024 payment, assuming they meet the other requirements.
Eligibility
To be eligible for the GST/HST credit in 2024, Canadians must meet the following conditions:
- Age: The applicant must be 19 years or older.
- Income: For individuals, annual income must be less than $35,000 to qualify. This threshold increases for households with a spouse or children.
- Citizenship: Applicants must be legal residents of Canada and file a tax return for the previous year.
- Children’s Age: If claiming credits for children, they must be under 19 years old.
- Tax Return: Applicants need to have filed their 2023 tax return by the required deadline to be eligible for the GST/HST credit in 2024.
If you meet these requirements, the CRA will automatically assess your eligibility and send the credit as part of the scheduled payment.
Is There an Extra GST Payment?
As of now, the CRA has not announced any extra GST/HST payments for 2024. While rumors about bonus payments sometimes circulate, these are often misunderstandings or exaggerations. The standard payments remain based on income, family status, and other personal factors.
However, it’s worth noting that some provinces may offer additional benefits to GST/HST credit recipients. For instance, residents of British Columbia can receive the BC Climate Action Tax Credit in addition to the federal GST/HST credit.
This is just one example of how provincial programs may provide extra financial relief to low- and moderate-income individuals.
Fact Check on Extra Payments
While some sources may suggest extra GST payments for 2024, it’s important to rely on official government websites for accurate information.
Always check your eligibility and payment status directly with the CRA or other official authorities to avoid misinformation.
The amount you receive depends on your income, family size, and filing status, so there’s no fixed amount that applies to everyone. Be cautious of any claims promising specific “extra” payments unless confirmed by official sources like the CRA.
The GST/HST credit is a crucial support mechanism for low- and moderate-income Canadians, helping to offset the cost of these taxes on daily purchases.
With the next payment scheduled for October 4, 2024, eligible individuals and families can expect financial relief. To ensure you receive your payment, make sure your tax returns are filed on time and that you meet the eligibility criteria set by the CRA.
FAQs
When is the next GST payment in 2024?
The next GST payment is scheduled for October 4, 2024.
What is the maximum GST credit amount for individuals in 2024?
The maximum annual GST credit for individuals is $519.
Who qualifies for the GST payment in Canada?
Canadians over 19 with low to moderate incomes who filed their 2023 tax return qualify.
Can families get additional payments for children?
Yes, families can claim $179 annually for each child under 19.
Are there any extra GST payments for 2024?
No official extra GST payments have been announced for 2024.
