On October 4, 2024, the Canada Revenue Agency (CRA) will release the next GST/HST credit payment, providing essential financial relief to eligible Canadians.
This quarterly payment is part of the government’s effort to help low- and modest-income individuals and families manage the costs of living, especially with the added burden of Goods and Services Tax (GST) and Harmonized Sales Tax (HST).
For many, the GST/HST credit acts as a vital source of assistance, helping offset the cost of everyday goods and services. Understanding how this payment works, who qualifies, and how much you can receive is crucial for maximizing the benefit.
What Is the GST/HST Payment?
The GST/HST payment is a non-taxable benefit offered by the federal government to help individuals and families with low or modest incomes cover the costs associated with GST and HST.
Since these taxes are applied to most purchases, this credit provides direct financial assistance to ease the burden of these additional costs.
The credit is calculated based on your family income from the previous tax year, and payments are distributed four times a year. The October 2024 payment is the second instalment for the period from July 2024 to June 2025.
Since this benefit is non-taxable, you don’t need to report it as income on your tax return, making it an easy and straightforward financial boost.
Eligibility for the GST/HST Payment
To qualify for the GST/HST credit, you must meet several eligibility criteria. The CRA automatically assesses your eligibility when you file your tax return, so it’s essential to ensure you’ve submitted your 2023 tax return to qualify for the 2024–2025 period.
Key Eligibility Requirements:
- Residency: You must be a Canadian resident for tax purposes at the beginning of the month in which the payment is made.
- Age: You must be at least 19 years old in the month before the payment is issued.
- Filing a Tax Return: You need to have filed your 2023 tax return. This is critical because the CRA uses your income information to determine eligibility and payment amounts.
- New Canadians: Permanent residents, international students, and work permit holders can qualify for the credit after filing their first Canadian tax return.
How Much Can You Receive?
The amount of the GST/HST credit depends on your family income, marital status, and the number of children in your household.
The CRA calculates the payment using thresholds that are adjusted annually to account for inflation and rising living costs.
Maximum Payment Amounts for July 2024–June 2025:
- Single individuals: Up to $519 annually.
- Married or common-law couples: Up to $680 annually.
- Per child under 19 years old: Up to $179 per child.
These amounts are divided into four quarterly instalments, with the next payment scheduled for October 4, 2024.
Example Payment Calculation:
For instance, if you’re a single individual with an income under $11,039, you can expect to receive up to $340 annually.
Meanwhile, a couple with two children and a family income of $25,000 could receive $1,038 per year. Here’s how payments scale based on family net income:
| Adjusted Family Net Income | No Children | 1 Child | 2 Children | 3 Children |
|---|---|---|---|---|
| Under $11,039 | $340.00 | $859.00 | $1,038.00 | $1,217.00 |
| $25,000 | $519.00 | $859.00 | $1,038.00 | $1,217.00 |
| $50,000 | $235.20 | $575.20 | $754.20 | $933.20 |
| $65,000 | $0.00 | $0.00 | $4.20 | $183.20 |
As family income increases, the payment amount decreases, ensuring that low-income Canadians receive the most significant support.
Upcoming GST/HST Payment Dates
In addition to the October 4, 2024, payment, recipients can expect further payments on the following dates:
- January 3, 2025
- April 4, 2025
Payments typically arrive on the 5th of the month, but if the 5th falls on a weekend or holiday, they will be issued on the last business day before the 5th.
It’s important to monitor your bank account or mailbox around these dates to ensure you receive your payment.
What If You Don’t Receive Your Payment?
If you don’t receive your GST/HST credit within 10 business days of the scheduled payment date, contact the CRA at 1-800-387-1193. Common reasons for payment delays include:
- Incorrect or outdated personal information, such as your mailing address or banking details.
- Processing delays at the CRA due to high volumes.
- Issues with direct deposit or changes in your banking information.
You can update your address or banking details through the CRA My Account portal or by contacting the CRA directly to ensure smooth and timely payments.
Other Government Payments in October 2024
Alongside the GST/HST payment, several other important government benefits are scheduled for October, including:
- Canada Child Benefit (CCB) payments for families with children under 18.
- Old Age Security (OAS) and Guaranteed Income Supplement (GIS) payments for seniors.
These additional payments provide further financial assistance to eligible Canadians, helping them manage the rising cost of living. Be sure to check your eligibility for these benefits and keep your information with the CRA up to date.
FAQs
Who qualifies for the GST/HST payment?
Low- and modest-income individuals or families who file their tax returns and meet residency and age requirements.
How often is the GST/HST payment issued?
It is paid quarterly—next payments are in October 2024, January 2025, and April 2025.
How much is the GST/HST credit for a single individual?
A single individual can receive up to $519 annually.
What happens if I don’t receive my payment on time?
Contact the CRA at 1-800-387-1193 if your payment is delayed by more than 10 business days.
How do I update my banking details with the CRA?
You can update your information through the CRA My Account portal or by calling the CRA directly.
