Eligible Canadians to receive tax credit payment on Friday

Canadians who are eligible for a GST/HST tax credit can expect to receive their final payment of the year on Friday.

 

The goods and services tax/harmonized sales tax (GST/HST) credit is meant to help offset taxes paid by individuals and families with low to modest incomes.

 

Eligible Canadian citizens and residents can get up to $519 for the year if they are single, $680 if they are married or have a common-law partner, and an additional $179 for each child under the age of 19, according to the Canada Revenue Agency(CRA).

You are automatically considered for the GST/HST credit when you file your taxes. Eligibility depends in part on family net income and number of children, and is outlined in a CRA chart and this  article.

 

Married parents with one child, for example, will need to make $60,000 or less to get a tax credit while a single person without children would need to make $50,000 or less.

 

The tax rebates are sent out quarterly in January, April, July and October. After the Oct. 4 payment, the next one is scheduled for Jan. 3, 2025.

 

Payments received between July 2024 and June 2025 are based on income in the 2023 tax year. Those who haven’t signed up for direct deposits from the CRA may have to wait for a paper cheque.

 

With files from CTVNews.ca Journalist Dorcas Marfo

 

 

 

This article was first reported by CTV News