If you qualify, another round of GST/HST credit payments could provide relief from your holiday expenses. Designed to offset the cost of goods and services tax (GST) or harmonized sales tax (HST), this non-taxable quarterly payment helps low- to modest-income Canadians.
Overview of the GST/HST Credit Program
The GST/HST credit is a financial aid program administered by the Canada Revenue Agency (CRA) to ease the burden of GST or HST for eligible individuals and families. Payments are issued quarterly in January, April, July, and October. For 2024, the upcoming payment will be deposited into accounts on January 3 for those registered for direct deposit, while others will receive a cheque by mail.
GST/HST Credit and the Federal Tax Holiday
This round of payments coincides with the federal government’s tax holiday (Dec. 14 to Feb. 15), which removes GST/HST from select items such as groceries, children’s clothing, and restaurant meals. However, the tax holiday will not impact the amount of the GST/HST credit, as confirmed by the federal finance department.
Rising Costs and the Impact on Canadians
The GST/HST credit comes at a critical time as many Canadians continue to face rising costs of living. In 2023, the federal government doubled this credit temporarily through the grocery rebate, allocating $2 billion to assist households recovering from the pandemic’s economic impact. Despite inflation cooling slightly, essential costs like groceries and rent remain high for lower-income families.
Eligibility for the GST/HST Credit
To qualify for the GST/HST credit, you must meet specific requirements:
- Be a Canadian resident aged 19 or older.
- Those under 19 may qualify if they are married, in a common-law partnership, or are parents living with their child.
- You must file a tax return for the previous year to be eligible.
- Eighteen-year-olds turning 19 before April 5 will also qualify if they have filed a tax return.
- Parents with shared custody may receive half the credit for their child.
Income Thresholds for Eligibility
Eligibility depends on your annual net income and the number of children in your family:
| Family Status | No Children | 1 Child | 2 Children | 3 Children | 4 Children |
|---|---|---|---|---|---|
| Single | $54,704 | $61,504 | $65,084 | $68,664 | $72,244 |
| Married/Common-Law | $57,924 | $61,504 | $65,084 | $68,664 | $72,244 |
Payment Amounts
The amount you receive is determined by your family’s adjusted net income and the number of children in your household. For October 4, payments are distributed as follows:
- $519 for single individuals.
- $680 for married or common-law families.
- An additional $179 for each child under 19.
How to Receive Your GST/HST Credit
Most eligible Canadians are automatically enrolled when they file their taxes. For new residents, additional forms are required:
- With children: Complete Form RC66.
- Without children: Complete Form RC151.
Send the completed forms to your local tax centre to initiate the process.
FAQs
What happens if I don’t receive my GST/HST credit?
If you don’t see the payment in your account, wait 10 business days before contacting the CRA.
Can new residents apply for the GST/HST credit without filing taxes?
Yes, new residents can apply by submitting the appropriate form (RC66 or RC151) to their tax centre.
Do I need to report income to qualify?
No, you don’t need to report income to qualify for the credit, but you must file your tax return.
