The first of four payments from the GST/HST credit is set to hit ºÃÉ«tvs' bank accounts on July 5. ºÃÉ«tv Revenue Agency (CRA) national headquarters in Ottawa on Friday, June 28, 2024. THE CANADIAN PRESS/Sean Kilpatrick
skpOTTAWA - The first of four payments from the GST/HST credit is set to hit ºÃÉ«tvs’ bank accounts on July 5.
The non-taxable credit, which is paid in four parts, is for individuals and families with low and modest incomes to help offset sales taxes they pay.
The Canada Revenue Agency says single ºÃÉ«tvs could get up to $519 over the course of the four payments, while those who are married or have a common-law partner could get up to $680.
For each child under 19 years of age, there’s up to $179 in additional credit.
The CRA says this year’s round of payments, calculated using 2023 tax returns, will arrive on July 5 and Oct. 4, 2024 and on Jan. 3 and April 4, 2025.
However, ºÃÉ«tvs whose total credit is less than $50 per quarter will get the whole sum this week.
In order to be eligible for the credit, you must be a ºÃÉ«tv resident for income tax purposes at the end of the month before and at the beginning of the month in which the payment will be made, the CRA says.
You must have filed your 2023 tax return to get the credit, even if you didn’t make any income last year.
You must be at least 19 years old in the month before the CRA makes a quarterly payment, with some exceptions.
The CRA says other benefit payments are also coming in July, such as the carbon rebate on July 15 and the child benefit on July 19.
The CRA has an online child and family benefits calculator that can help you find out which benefits you may be able to receive and how much you may be eligible for.
This report by ºÃÉ«tvwas first published July 4, 2024.
The ºÃÉ«tv Press. All rights reserved.
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