The Canada Revenue Agency (CRA) regularly provides Goods and Services Tax (GST) and Harmonized Sales Tax (HST) credits to eligible citizens, offering relief on taxes.
Each year, the CRA adjusts these payments to reflect changes in family status and income. Recently, there’s been buzz around an “additional GST payment” for 2024, prompting many to wonder if they’re eligible and when to expect payments.
Here’s a complete overview, including important dates, eligibility criteria, and payment details to help clarify what to expect and debunk any rumors.
Payment Overview
The CRA issues quarterly payments for GST/HST credits to Canadians who file taxes annually. These payments serve as financial assistance, especially for low-income individuals and families who spend a significant portion of their earnings on taxes.
The amount received depends on various factors like income, family size, and relationship status.
Payment Schedule
Payments are scheduled quarterly, typically issued directly to the recipients’ bank accounts. In 2024, these are expected on the following dates:
| Quarter | Payment Date |
|---|---|
| January – March | January 5 |
| April – June | April 5 |
| July – September | July 5 |
| October – December | October 5 |
If the 5th falls on a weekend or holiday, payments are released on the preceding business day. Recipients can check their bank accounts on these dates and allow a grace period of 10 business days for any potential delays.
Eligibility for Additional GST Payment in 2024
While all GST/HST credit payments follow the CRA’s guidelines, here are the specific eligibility requirements to qualify for this payment:
- Canadian Residency: Only citizens who are Canadian residents can apply.
- Age: Applicants must be at least 19 years old.
- Tax Filing Requirement: Applicants must file annual taxes with CRA by the designated tax deadlines.
- Income Limits: Annual income must be under $23,600.
- Duration of Residency: Applicants must have lived in Canada for at least 10 years.
How to Apply
If you meet the eligibility requirements and have filed your taxes, you may not need to apply separately. Here’s how it works:
- When filing your tax return, indicate your interest in receiving the GST/HST credit.
- Once approved, CRA will automatically calculate and deposit the payment quarterly.
If you haven’t received payments, you can check your CRA My Account or call the CRA for further clarification.
Payment Amounts Based on Family Size
The GST/HST credit amount varies based on family size. In 2024, the following amounts are expected:
| Applicant | Quarterly Payment |
|---|---|
| Single adult | $519 annually |
| Couple | $680 annually |
| Additional amount per child (under 19) | $179 annually |
Only children under the age of 19, living with the applicant and under their care, are eligible to be included in the calculation. The CRA uses this structure to ensure that low-income families and individuals receive proportionate relief.
Payment Verification and Delay Issues
If you’re expecting a GST/HST payment and it hasn’t arrived, you should first allow a 10-business-day grace period after the scheduled payment date. If the delay exceeds this period, contact the CRA for further assistance or file a complaint if needed.
Fact Check: Extra GST Payment in 2024
There has been some misinformation regarding additional GST payments in 2024. Official CRA statements do not mention any bonus or supplementary GST payment beyond the standard GST/HST credits.
Any rumors suggesting otherwise are unfounded. To avoid falling for scams, only rely on official announcements from the CRA or financial institutions when verifying GST payment information.
While there may be regular adjustments to reflect inflation or income changes, no additional payments are planned beyond the regular quarterly distributions. Always check the CRA website or consult with a financial advisor to get the latest, verified information.
