Canada GST HST Credit Dates 2024: When GST HST Payments will come in 2024?

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Canada GST HST Credit Dates 2024

The Canadian government offers qualifying individuals an annual tax credit in lieu of the goods and services tax or harmonized sales tax. The GST/HST credit payment, intended to assist individuals and families with low to modest incomes, is funded by the federal government.

As we approach the end of the 2023 financial year, the GST credit recipients are looking for Canada GST HST Credit Dates 2024. The GST/HST rebate is paid out in June and July every year. Your GST/HST credit should be available to you from July 2024 to June 2025 for the 2023 tax year, which runs from January 1 to December 31, 2023.

Please Continue reading for information on eligibility, how to apply for the credit, and the GST/HST payment schedule for the next financial year.

Canada GST HST Credit 2024

A tax-free payment made by the CRA every quarter to individuals and families with low to moderate incomes is known as the GST/HST credit. Its purpose is to reduce the harmonized sales tax (HST) and goods and services tax (GST) that they pay on the majority of their annual expenses.

High inflation is predicted to result in increases to the GST/HST Credit payment amount and family income limit for the benefit year 2024. This means that more Canadians will now be eligible for this credit.

Make sure your tax returns for the 2022 financial year are accurately filed; there’s no need to ask for GST/HST credit. Based on the taxes you filed for the 2022 tax year, you will earn GST/HST credits through June 2024.

Canada GST Credit Dates 2024

Canada GST HST Credit Eligibility 2024

Your eligibility for the GST credit is determined by the CRA when you file your taxes for the prior year. You must fulfill other requirements in addition to falling into the CRA’s low-to-moderate income category, such as

• The minimum age requirement is 19 years old.
• You are married, or were married, to someone.
• You live (or have lived) with a child (or children) of yours.
• To be eligible for the GST/HST credit, you must be a Canadian resident for income tax purposes in the month preceding and beginning with that month.
• Additionally, you must reach specific income requirements.

Another issue to think about is if your child qualifies for the GST tax credit. If they are under 19, you can accept their GST payment on their behalf.

When HST Payments will come in 2024?

Quarterly GST payments are sent out once every three months, for a total of four times a year. Payments were paid on July 5, 2023, for the fiscal year 2023–2024. April 5, 2023, January 5, 2023, and October 5, 2023.

We are speculating even though the government has not yet notified the dates for the GST/HST credit payment. We think that the payments in the 2024–25 fiscal year will likewise be made on these days, in line with overall historical trends. Since the Canada GST HST Tax credit payments are typically made on the fifth day of July, October, January, and April, this assumption has been made.

Once the authorities have revealed the exact dates, you must visit the CRA website. If you expect to receive less than $50 per quarter, your GST payment will be made in one lump sum on July 5.

Canada GST HST Credit Amount

Your net income and the number of children under the age of 19 determine the amount of your GST credit payment. In 2023, a single person may receive up to $496, a married couple might receive up to $650, and each kid could receive a tax credit of $171.

Although it is too early to draw any estimates, we believe the payment amount will be around this. However, according to unofficial reports, the authorities are in talks to boost the tax credit amount in line with inflation and COLA.

If you have signed up for direct deposits, your GST payment will be automatically paid into the checking account you specified when filing your tax return. If you receive HST credit payments by cheque, you can expect to receive them in the mail.

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