Canadians will soon receive GST/HST credit payments. How much?
These tax-free quarterly payments will go out to eligible Canadians who earn low and modest incomes on Friday.
Canadians will receive their final goods and services tax (GST) or harmonized sales tax (HST) credits of the year this week, with payments from the federal government set for Friday.
These tax-free quarterly payments are intended to help low- and modest-income individuals and families offset the GST or HST they pay.
How much can Canadians receive?
The amount of the GST/HST credit is determined based on adjusted family net income and the number of children under 19 years old who are registered for both the Canada Child Benefit and the GST/HST credit, as stated by the Canada Revenue Agency (CRA).
The CRA notes that any increase in adjusted family net income for 2023 could impact payments starting in July 2024. Between July 2024 and June 2025, a single Canadian without children could receive up to $519 in GST/HST credit, with the October payment representing roughly one-quarter of the full amount due based on the recipient’s 2023 tax return.
Married or common-law couples without children could receive up to $680 for the entire year, while parents can get up to $179 per child under 19. For shared custody situations, each parent may be eligible for half of the GST/HST credit for the child.
If the total credit calculated in July was less than $50 per quarter, the full amount would have been paid that month, according to the CRA.
Eligibility requirements
To qualify for the GST/HST credit, an individual must be at least 19 years old, reside in Canada for tax purposes, and meet these requirements both the month before and at the start of the month when the payment is issued.
Canadians under 19 may also be eligible if they have or had a spouse or common-law partner, or if they are a parent living with their child.
The adjusted family net income must be under $70,000.
Eligible individuals who filed their 2023 tax returns will receive their payments via direct deposit or cheque, even if they had no income last year.
The next GST/HST credit payment is scheduled for January 3, 2025.