Ontario HST 2024: Rates, Deadlines, Payment Schedule

Updated on June 14, 2024

Explore HST in Ontario for 2023, including rates, deadlines, payment dates, and additional details. The tax aims to support lower-income households, offering various financial benefits. Delve into the full article to discover more about HST in Ontario for 2023 and its payment dates.

HST Ontario 2024

HST, or Harmonized Sales Tax, is applied to goods and services, combining federal and provincial taxes. It aids low-income families by covering the GST amount. The standard HST rate is 15% in most provinces, but in Ontario, it’s 13%. Certain categories are exempt or eligible for rebates. Zero-rated goods and services have an HST rate of 0%.

HST Ontario Amount

The calculated amount is influenced by several factors outlined below. It is contingent on your individual net income if you’re single, and if you have a spouse, it considers your family’s net income. Families with children under the age of 19 are eligible for the Canada Child Benefit. Specific criteria are in place to determine the maximum annual payment for citizens, based on the 2022 tax year.

For single parents with income between $20,000 and $40,000 and no children, the amount is around $496. If a single parent has one child, the amount is $821. Single parents with more than two children will receive $171 per child. For married individuals earning over $40,000 and no children, the amount is $650. Each child under the age of 19 adds an additional $171.

HST Ontario Deadline

The deadline for HST in Ontario may vary depending on the filing period. If the deadline falls on a Sunday or a national holiday, the payment is processed on the next working day. Subsequent payments follow the normal schedule. Detailed information about deadlines for different filing periods is provided below in the article.

Harmonized Sales Tax is an annual consumption tax paid by local consumers or businesses. Businesses paying HST are eligible to collect, report, and remit their due taxes to the CRA.

The revenue charge agency has the authority to impose penalties or interest on any amount not received by the due date. For sole proprietorships and partnerships, delays can also impact personal income tax refunds. If you are closing your HST account, filing the final return is your responsibility. Scroll down for more information on these details.

HST Ontario’s deadlines for the various submission windows.

You have the flexibility to make payments monthly, quarterly, or annually, except for individuals with a fiscal year-end on December 31 and business income for income tax purposes.

It’s important to note that these rules may vary, as mentioned earlier, depending on certain factors. Different restrictions may apply to the financial institution listed.

HST Ontario Payment Dates 2024

The Harmonized Sales Tax credit dates for the previous tax year, 2022, have been set for July 5, 2023, October 5, 2023, January 5, 2024, and April 5, 2024. It’s advisable to check the HST credit before filing your tax return, as these dates may be adjusted in case of holidays.

Payment Dates:

Payments are scheduled for July 5, 2023, October 5, 2023, January 5, 2024, and April 5, 2024.

Payment Amounts:

  • Single parents receive $496.
  • Married individuals receive $650.
  • Each child under the age of 19 receives $171.

Payment Methods:

Payments are made through direct deposit and cheque by mail.

Application:

Simply file your income tax every year to be eligible for this tax credit.

The table above summarizes details related to payment dates, amounts, methods, and application. Ensure you have all the essential details regarding HST in Ontario for 2023, including rates, deadlines, and payment dates.

 

 

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