2024 GST/HST Credit Payment Dates in Canada

Updated on February 23, 2024

Canadians are fortunate to have access to various shared services and benefits, and one of these is the GST/HST credit. In essence, families with low to moderate incomes receive the GST/HST credit to alleviate the burden of sales taxes. If you’re anticipating the Canada GST HST Credit Dates 2024 and are unsure of when it will be deposited into your bank account, read on for all the essential information about GST/HST payment dates.

The cost of the majority of goods and services in Canada includes a 5% goods and services tax, known as GST/HST. The annual GST amount paid by individuals can be substantial. The good news is that eligible Canadians can receive a GST/HST credit, serving as a rebate for the GST paid. This post will cover the Canada GST HST Credit Dates 2024, ensuring you stay informed about when GST/HST Payments will be received in 2024.

Understanding the Canadian GST/HST Credit

The Canadian Government extends the GST/HST credit to support families with low to moderate incomes, aiming to alleviate the burden of sales taxes in the country. This tax-free quarterly payment is provided to both single individuals and families with lower incomes, helping them cope with the costs associated with GST or HST throughout the year. The credit is specifically designed to offset the impact of these taxes on their overall expenses.

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Harmonized sales tax (HST) is synonymous with the goods and services tax (GST), and the choice between the two depends on the resident’s location within Canada. For instance, Alberta applies GST, while Ontario implements HST. Provincial regulations dictate the rates and taxable supplies for these taxes, affecting the cost of living by being applied to the majority of goods and services purchased on a daily basis.

2024 GST/HST Credit Payment Dates in Canada – Latest Updates

Government Canadian Government
Name of Organization Canada Revenue Agency
Financial year 2024-25
Canada GST/HST credit 2024 Dates January 5 and April 5, 2024
Category Finance News
Payments Amount Updating soon
Required Tax return Jauary1- December 31, 2023
Official website www.canada.ca

 

2024 GST/HST Credit Payment Dates in Canada – Latest Updates

Canada GST/HST Credit 2024 Payment Dates and Updates”

Quarterly payments for the Goods and Services Tax and Harmonized Sales Tax (GST/HST) are scheduled on the fifth of January and April each year. In 2024, the payment dates are January 5, 2024, and April 5, 2024, so be sure to check your bank account on these days. The last payment for 2023 was issued on October 5. If you’re curious about the amount you received, this post provides information on why you were paid a particular sum.

The Canada GST/HST Credit Payment 2024 aims to alleviate the tax burden on the low-income population in Canada, allowing them to lead a life without significant financial strain. Generally, individuals are not required to submit an application for the tax credit through the Canada Revenue Agency. This post serves as a comprehensive resource for information on GST payment dates, amounts, qualifying requirements, and related topics.

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2024 GST/HST Payment Schedule

GST HST Payments Date Payment serial
July 5, 2023 First payment
October 5, 2023 Second payment
January 5, 2024 Third payment
April 5, 2024 Fourth payment

 

Provincial Breakdown of GST/HST Rates 2023-24

Province GST PST HST (GST + PST)
Alberta 5%
British Columbia 5% 7%
Manitoba 5% 7%
New Brunswick 15%
Newfoundland/Labrador 15%
Northwest Territories 5%
Nova Scotia 15%
Nunavut 5%
Ontario 13%
Prince Edward Island 15%
Quebec 5% 9.975%
Saskatchewan 5% 6%
Yukon 5%

 

Eligibility Criteria for Canada GST/HST Credit 2024

Eligible individuals will receive the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit on January 5, 2024. According to the Canada Revenue Agency (CRA), to qualify for the GST/HST credit, an individual must be at least 19 years old. If an individual is under 19, they must also meet one of the following criteria within the same time frame:

If you are under 19, you may be eligible if:

  • You are married or have been married to someone, and/or
  • You live (or have lived) with a child.
Single parent with one child CAD 53,992
Single parent with two children CAD 57,132
Single parent with three children CAD 60,272
Single parent with four children CAD 63,412
Married/CLP with no children CAD 50,852
Married/CLP with one child CAD 53,992
Married/CLP with two children CAD 57,132
Married/CLP with three children CAD 60,272
Married/CLP with three children CAD 63,412

 

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