The latest round of GST/HST credit payments is set to roll out, providing crucial financial support to millions of eligible Canadians. This tax-free quarterly payment helps low- and modest-income families offset the cost of GST/HST paid on goods and services throughout the year.
1. Eligibility Criteria
Eligibility for the GST/HST credit is based on the individual’s income level, marital status, and number of children. Most Canadians who filed their taxes in 2024 will automatically qualify if their income falls within the set thresholds.
2. Payment Amounts
For the 2025 benefit year, individuals can receive up to $496 annually, while couples may qualify for up to $992. Families with children may receive an additional $261 per child, depending on their circumstances.
3. How to Check Your Payment
Eligible Canadians can view their payment details through their CRA My Account portal or by contacting the CRA directly. The payment will be deposited directly into bank accounts or sent via mail by cheque.
4. Key Dates
The upcoming payment is scheduled for January 5, 2025. Future payments will follow the quarterly schedule, with disbursements in April, July, and October.
The GST/HST credit aims to ease the financial burden on Canadians amid rising living costs. With the new year approaching, it’s a timely reminder for those who haven’t yet filed their taxes to do so and ensure they don’t miss out on these essential benefits.
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