The GST/HST Credit in Canada is a non-taxable benefit provided by the Canada Revenue Agency (CRA) to help individuals and families offset the costs of Goods and Services Tax (GST) or Harmonized Sales Tax (HST).
This financial aid is distributed quarterly, offering significant relief to low-income Canadians.
In this article, we’ll explore the details of the Canada GST/HST Credit Payments 2024, including eligibility requirements, payment dates, and the amount recipients can expect.
Overview of the GST/HST Credit 2024
The GST/HST Credit is designed to ease the tax burden on low-income individuals and families. Payments are made directly to beneficiaries’ bank accounts and are tax-free.
The CRA assesses eligibility automatically when individuals file their tax returns, so there’s no need to apply separately. Below is a quick overview of the credit for 2024:
| Title | Canada GST/HST Credit Payments 2024 |
|---|---|
| Year | 2024 |
| Agency | Canada Revenue Agency (CRA) |
| Type of Credit | GST/HST Credit |
| Eligibility | Based on Age, Income, Residency |
| Payment Dates | Quarterly |
| Website | www.canada.ca |
Eligibility Criteria for GST/HST Credit 2024
To qualify for the GST/HST Credit in 2024, applicants must meet the following conditions:
- Residency: The applicant must be a Canadian resident at the time of the payment.
- Age Requirement: The applicant must be 19 years or older. However, if younger than 19, the applicant can still qualify if they are living with a spouse, common-law partner, or are parents of a child.
- Income: The credit primarily targets low-income individuals and families, with the eligibility and amount determined by the household’s net income.
- Imprisonment Clause: Individuals incarcerated for more than three months are ineligible for the credit during their imprisonment period.
GST/HST Credit Payment Dates 2024
The CRA issues GST/HST credit payments quarterly. For 2024, the payment schedule is as follows:
| Month | Payment Date |
|---|---|
| October 2024 | 5th October 2024 |
| January 2025 | 5th January 2025 |
| April 2025 | 5th April 2025 |
If the payment date falls on a weekend or public holiday, the payment will be made on the last business day before the scheduled date. Should any delays occur, recipients are advised to wait for 10 working days before contacting CRA.
GST/HST Credit Payment Amounts 2024
The amounts for the GST/HST Credit are calculated based on your household income, marital status, and the number of children under 19 years of age. The following table shows the amounts applicable for the July 2023 – June 2024 period:
| Citizen Status | GST/HST Credit Payment Amount 2024 |
|---|---|
| Single | $496 |
| Married or Common-Law Partner | $650 |
| Each Child (under 19 years) | $171 |
These amounts are distributed over four quarterly payments throughout the year. The total amount depends on the applicant’s income from the previous year’s tax return.
How is the GST/HST Credit Calculated?
The GST/HST Credit is calculated based on several factors, including marital status, number of eligible children, and net income from the base year.
The CRA uses the information from your 2022 tax return to calculate your eligibility and credit amount for the payment period of July 2023 to June 2024.
| Base Year | Payment Period |
|---|---|
| 2022 | July 2023 – June 2024 |
| 2021 | July 2022 – June 2023 |
| 2020 | July 2021 – June 2022 |
By calculating the credit based on your previous year’s income, the CRA ensures that the benefit reflects your most recent financial situation.
How to Ensure Accurate Payments
To avoid any underpayments or overpayments, it’s essential that recipients keep their personal and financial information up to date with the CRA. This includes changes to your:
- Address
- Marital status
- Number of dependents
- Banking details
If any of these details have changed, they can be updated online through CRA’s My Account or by contacting the CRA directly.
The Canada GST/HST Credit Payments 2024 offer essential financial relief to low-income individuals and families. By offsetting the cost of GST/HST, the credit helps ease financial stress, particularly for those on fixed incomes.
The payments are made quarterly, based on the applicant’s net income, and are automatically assessed when you file your tax return. Be sure to keep your personal information updated to ensure timely and accurate payments.
FAQs
Who qualifies for the GST/HST Credit in 2024?
Canadian residents aged 19 or older with low household incomes are eligible. Younger applicants may qualify if they live with a spouse or have children.
When are the GST/HST Credit payments for 2024?
Payments are made quarterly on the 5th of October 2024, January 2025, and April 2025.
How is the GST/HST Credit amount calculated?
The amount is based on your marital status, the number of dependents, and your household’s net income from the previous year.
Do I need to apply for the GST/HST Credit?
No, the CRA automatically assesses eligibility when you file your tax return.
What should I do if my payment is delayed?
Wait 10 working days before contacting the CRA at 1-800-387-1193.
