GST/HST credit: it’s refund day for many taxpayers

GST/HST credit: it’s refund day for many taxpayers
GST/HST credit: it’s refund day for many taxpayers

This text is a translation of an article from CTV News

The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is intended to offset taxes paid by low- and moderate-income individuals and families.

Eligible Canadian citizens and residents can receive up to $519 for the year if they are single, $680 if they are married or have a common-law partner, and an additional $179 for each child under 19. according to the Canada Revenue Agency (CRA).

You are automatically considered for the GST/HST credit when you file your tax return. Eligibility depends in part on net family income and number of children, and is explained in a CRA table.

Married parents with one child, for example, will need to earn $60,000 or less to get a tax credit, while a single person without children will need to earn $50,000 or less.

Tax refunds are sent quarterly in January, April, July and October. After the payment on October 4, the next one is scheduled for January 3, 2025.

Payments received between July 2024 and June 2025 are based on tax year 2023 income. People who have not signed up for CRA direct deposit may have to wait for a paper check.

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