Canadians eligible for the GST/HST tax credit will be able to receive one of four payments planned by Ottawa this year by Friday.
The penultimate payment of the Goods and Services Tax Credit/Harmonized Sales Tax (GST/HST) will be made on July 5, according to the Canada Revenue Agency (CRA) website. The final payment is scheduled for October 4.
Here’s what you need to know about this tax credit.
What is it about ?
The GST/HST credit is a tax-free amount paid four times a year to low- and modest-income individuals and families. The CRA says it is used to “offset the goods and services tax/harmonized sales tax (GST/HST) they pay.”
Am I eligible?
To receive the GST/HST tax credit, you must be a resident of Canada, have filed a tax return and earn less than $50,000 per year for a single person, have a family income of less than $55,000 for a couple without children and a family income of less than $60,000 for a couple with one child, and less than $65,000 for a couple with two children.
How much will I receive?
Single Canadians can receive up to a maximum of $519, while married or common-law Canadians can receive up to $680. A couple with two children can receive up to $1,038 depending on family income.
