The Canada Revenue Agency (CRA) will issue the next round of GST (Goods and Services Tax) and HST (Harmonized Sales Tax) credit payments in early Novemeber. This payment is part of a government initiative to offer financial relief to Canadians with low to modest incomes. These credits help individuals and families manage the cost of living, particularly when faced with the added financial pressure of GST and HST on everyday purchases.
These quarterly payments, like the one arriving in Novemeber, are crucial in supporting Canadians by alleviating some of the financial burdens caused by rising costs and inflation. Knowing who qualifies for the payment and how much you might receive is essential to ensure you don’t miss out on this financial assistance.
What Is the GST/HST Credit Payment?
The GST/HST credit is a non-taxable benefit provided by the federal government. It is designed to help lower-income Canadians offset the GST and HST they pay on goods and services. Since these taxes are included in most purchases, the credit helps ease the financial strain of everyday living costs.
The amount of the credit is calculated based on the family income reported in your tax return from the previous year. Payments are issued four times annually, giving recipients a steady stream of financial support. The Novemeber 2024 payment marks the second instalment of the benefit for the July 2024–June 2025 period.
One of the significant advantages of this benefit is that it’s non-taxable, meaning you won’t have to report it as income on future tax returns. This makes it an uncomplicated and reliable source of financial help for those in need.
How the GST/HST Credit Works with Other Government Programs
The GST/HST credit doesn’t stand alone in providing financial relief. It works alongside other government programs like the Canada Child Benefit (CCB) and various provincial assistance programs, creating a comprehensive support system for low-income families. Together, these benefits aim to make sure that Canadians have access to the resources they need to afford essential goods and services.
Who Is Eligible for the GST/HST Credit?
To receive the GST/HST credit, you must meet specific eligibility requirements. The CRA automatically reviews your tax information to determine if you qualify for the payment.
Residency Requirement
You must be a Canadian resident for tax purposes at the beginning of the month when the payment is made. This ensures that only those who are actively contributing to the Canadian tax system benefit from this credit.
Age Requirement
To qualify, you need to be at least 19 years old in the month before the payment is issued. This is one of the essential criteria for receiving the credit.
Tax Filing Requirement
You must file a 2023 tax return to receive the Novemeber payment. Filing your taxes is the best way to ensure that not only the GST/HST credit but also other benefits like the Canada Workers Benefit (CWB) or provincial tax credits are processed for you.
New Canadians
Newcomers to Canada, including permanent residents, international students, and work permit holders, are also eligible for the GST/HST credit. They can qualify once they have filed their first tax return.
How Much Can You Expect to Receive?
The amount of the GST/HST credit varies based on factors such as family income, marital status, and the number of children in the household. The CRA uses the income data from your 2023 tax return to determine your payment. These income thresholds are updated each year to account for inflation and other changes in the cost of living.
Maximum Payment Amounts (July 2024–June 2025)
For the 2024-2025 period, the following are the maximum annual amounts you can receive:
- Single individuals: Up to $519 per year
- Married or common-law couples: Up to $680 per year
- For each child under 19 years old: Up to $179 per child
These payments are issued quarterly. The second payment will be deposited or mailed on Novemeber 4, 2024.
Example Payment Breakdown
The CRA calculates the exact amount of your GST/HST credit based on a sliding scale, which is determined by your adjusted family net income. Here’s an example of how the payment amount can change:
For a single individual earning under $11,039 annually, the GST/HST credit is $340. For a couple with two children and a combined income of $25,000, the total annual payment could be as high as $1,038.
| 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 |
This table shows how the amount of the payment decreases as family income rises, ensuring that those who need the most assistance receive the most significant benefit.
Upcoming GST/HST Payment Dates (2024–2025)
The CRA distributes the GST/HST payments every quarter. The remaining payment dates for the 2024-2025 period are:
- January 3, 2025
- April 4, 2025
If a payment date falls on a weekend or a holiday, the CRA ensures the payment is issued on the last business day before the 5th of the month. It’s a good idea to monitor your bank account or mailbox around these dates to make sure you receive your payment on time.
What to Do If You Don’t Receive Your Payment
If you don’t receive your GST/HST payment within 10 business days of the expected date, you can contact the CRA at 1-800-387-1193. Common reasons for delays include:
- Outdated personal information, like an old mailing address or incorrect banking details.
- Processing delays within the CRA due to high volumes.
- Issues with direct deposit or banking information.
To avoid any hiccups, keep your personal information up to date using the CRA My Account portal or by contacting the CRA directly.
Other Government Payments in Novemeber
In addition to the GST/HST credit, several other government payments are expected in Novemeber. These include:
- Canada Child Benefit (CCB): For families with children under 18.
- Old Age Security (OAS) and Guaranteed Income Supplement (GIS): Payments for eligible seniors.
These payments provide additional financial support to help Canadians cover their essential living costs. Make sure your information with the CRA is up to date to avoid delays in receiving these payments.
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