GST Payment Dates 2024: In Canada, people and families who do not earn a lot get the GST/HST credit four times a year. This money is not taxed and it helps make up for the GST/HST they pay on things they buy.
Anyone who lives in Canada and pays taxes, like students from other countries and people with work visas, can get this GST money for the last tax year.
People who have just moved to Canada can get it too, but they need to ask for the GST credit once they are in the country.
This article talks about what GST is, who can get it, how new people in Canada can ask for it, the most you can get, and when the GST payments will be sent out in 2024.
What is GST in Canada, and how does it work?
GST, or Goods and Services Tax, in Canada is a 5% tax that you pay on most things you buy or services you use. It is included in the price of things like clothes, electronics, and eating out. Some provinces combine GST with their own taxes, making it the HST, or Harmonized Sales Tax.
This tax helps the government pay for public services like roads, schools, and healthcare. Businesses collect GST when they sell you something and then send it to the government
GST payment eligibility
To be eligible for the GST/HST payment in Canada for 2024, you need to meet these conditions:
- You must be a Canadian resident for income tax purposes in the month before and at the start of the month when the Canada Revenue Agency (CRA) sends out the payment.
- You also need to be one of the following:19 years old or older.
- Have a spouse or common-law partner.
- Have children under 19 years old.
If you are new to Canada, you can apply for the GST credit after you arrive. The amount you can get depends on your income and family size. For example, individuals can get up to $496, couples $650, and families with children an extra $171.
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GST Payments: Who Should Pay and When?
In Canada, GST payments are for people with low or moderate incomes to help them with the taxes they pay on goods and services. Here is who should pay and when:
- Who Should Pay: If you are a Canadian resident for tax purposes and you have a low or moderate income, you might be eligible for GST payments. This includes international students, work permit holders, and newcomers to Canada
- Payment Dates: The GST payments are sent out four times a year. In 2024, the payment dates are January 5, April 5, July 5, and October 4. If the payment date falls on a weekend or holiday, it will be made on the last working day before that.
Remember, you need to apply for the GST credit to receive these payments, especially if you are a newcomer to Canada.
How to Receive Your GST Payment
To receive your GST payment in Canada for 2024, you should:
- File your tax return: Even if you do not have income, file a tax return to apply for the GST/HST credit.
- Use CRA services: Check your payment status and amount using the CRA My Account service or the MyBenefits CRA mobile app.
- Choose direct deposit: Get your payments faster by choosing direct deposit to your Canadian bank account.
Remember to keep your personal information updated with the CRA to ensure you receive the correct payment amounts. If you are eligible, the GST/HST credit payments will be made on January 5, April 5, July 5, and October 4, 2024.
If you do not have children,
You need to submit the RC151 form, which is the application for the GST/HST Credit and Climate Action Incentive Payment, for the year that you first became a tax resident in Canada.
If you have children,
You should complete the RC66 form to apply for various child and family benefits. This form should be sent to the CRA tax center. Additionally, you must fill out the RC66SCH form, which provides details about your status in Canada, income information, and confirms your citizenship and residency for the child benefits application.
What is the maximum GST payment amount in 2024?
The maximum GST payment amounts in Canada for 2024 are as follows:
- 496 if you are single
- $650 if you are married or have a common-law partner
- $171 for each child under the age of 19
These amounts are based on your income and family situation, so make sure to keep your information updated with the Canada Revenue Agency.
What are the upcoming GST payment dates in 2024?
The upcoming GST payment dates in Canada for 2024 are:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
These are the dates when eligible Canadians will receive their GST/HST credit payments.
When is the GST payment due in April 2024?
The GST payment in Canada for April 2024 is scheduled for April 5, 2024. Remember to keep your information updated with the Canada Revenue Agency to ensure you receive your payments on time.
People Also Ask
What is the GST/HST credit?Â
It’s a tax-free payment sent four times a year to help individuals and families with low or moderate incomes offset the GST or HST they pay.
Who is eligible for the GST/HST credit?Â
You’re eligible if you’re a Canadian resident for income tax purposes and you meet the income requirements. This includes international students, work permit holders, and newcomers to Canada.
How do I apply for the GST/HST credit?
You apply by filing a tax return for the previous year. If you’re new to Canada, you also need to send in Form RC151.
When are the GST/HST credit payments made?Â
Payments are made on January 5, April 5, July 5, and October 4. If these dates fall on a weekend or holiday, the payment is made on the last working day before.
What are the maximum GST/HST credit amounts for 2024?Â
The maximum amounts are $496 for singles, $650 for couples, and $171 for each child under 19.
