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If you qualify for this tax credit, you can expect a payment in your bank account this week

A person looks at a Canada Revenue Agency homepage in Montreal, Sunday, August 16, 2020. (Graham Hughes/The Canadian Press) A person looks at a Canada Revenue Agency homepage in Montreal, Sunday, August 16, 2020. (Graham Hughes/The Canadian Press)
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Eligible Canadians should expect GST/HST tax credit payments in their bank accounts late this week, according to the Canada Revenue Agency.

The latest instalment in the quarterly payment program is expected on Friday, the CRA鈥檚  said.

Here鈥檚 what you need to know about the tax credit.

What is the credit?

The GST/HST credit is a non-taxable amount paid four times a year to individuals and families with low and "modest" incomes. Here's a  from the CRA on income levels eligible for this benefit.

The CRA said its aim is to help offset the goods and services tax and harmonized sales tax that they pay.

Am I eligible?

The CRA says an individual is eligible if they are a resident of Canada for income tax purposes at the start of the month when the CRA makes a payment.

In the month before the quarterly payments, individuals must be 19-years-old and older. Those under 19 must meet one of the following conditions:

  • Have or had a spouse or common-law partner; and/or
  • Are or were a parent and live or lived with your child.

Additionally, eligibility depends on how much you make and your personal circumstances. For example, a single person with no children only qualifies for the credit if their net income is $50,000 or less.

View this  from the CRA for details on thresholds. 

How much will I get?

The CRA bases the amount of credit for each individual on marital status, eligible children registered for the GST/HST credit and adjusted family net income for the 2023 base year.

In total, those who are single may  up to a maximum of $519, while Canadians who are married or have a common-law partner can get up to $680. Additionally, they may receive additional funding of up to $179 per child under the age of 19. The totals are divided over the course of a year into four payments.

The actual amount a person or family receives depends on factors including salary and the number and ages of your children and custody arrangements.

Payments received between July 2024 and June 2025 will be based on what you made in the 2023 tax year.

To get an estimate of your GST/HST credit, you can use the CRA鈥檚 child and family benefits .

When is the next payment?

The next for the GST/HST credit is Oct. 4.

Before that, those eligible for the Canada Carbon Rebate credit, formerly known as the climate action incentive payment, can expect that benefit to be deposited on or around July 15.

The dates of all tax credit and benefit deposits, including the disability tax credit, Canada child benefit and specific provincial and territorial benefits, are listed on the CRA's .  

Correction

This article has been updated to clarify the amount of these payments.

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