The GST/HST payment credits are paid out quarterly on the 5th of the month in July, October, January, and April. Why didn't we start with January? Well, the payout schedule for the GST payments can be confusing.

If you're reading this after July 5th, 2024, you've likely already started receiving credits from your 2023 tax return.

But don't worry — we'll clarify things for you in this comprehensive guide. We're going to cover:

• What is the GST/HST credit?
• What are the most important payment dates in 2024?
• How much are GST/HST payments in 2024?
• How to make sure you get your GST payments
• How to apply for GST payments

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What is the GST/HST credit?

The GST/HST credit, or the goods and services tax/harmonized sales tax credit, is a tax-free quarterly payment made by the Canadian government to help individuals with low or modest incomes offset the amount of GST/HST they pay.

What are the most important GST payment dates in 2024?

Your annual GST/HST credit is based on your 2022 tax return, so the payments are split across 2023 and 2024. The CRA distributes the credit in four installments:

• July 5, 2023.
• October 5, 2023.
• January 5, 2024.
• April 5, 2024.

Credits from your 2023 return will also be distributed this year:

• July 5, 2024.
• October 5, 2024.

If the calculated credit for July 2023 is less than $50 per quarter, the CRA will issue the total payment on July 5, 2023.

How much are GST/HST payments in 2024?

GST/HST payments depend on your marital status, number of children, and adjusted family income for the base tax year. To get an estimate, you can use the CRA's calculator. For a quick overview, however:

• Single — $496
• Married — $306
• For each child under 19 — $81

Your payment amount can be altered depending on changes in family or marital status. In these situations, contacting the CRA  as soon as possible is essential to ensure your payments are adjusted accordingly:

• When the number of children in your care changes. This may be due to them aging beyond 19 or the birth of a new child.
• Change in marital status. Either from divorce, marriage, or declaration of a common-law partner.
• In the event of moving.
• In the event of passing.

In all cases, you, your spouse, or your estate should inform the CRA immediately.

How to make sure you get your GST payments

To be eligible for the GST/HST credit, you need to:

• Be at least 19 years old.
• A resident of Canada.

You're not going to be eligible if:

• You've been incarcerated for 90+ days.
• You don't pay taxes in Canada because you are (or are related to) an officer/servant of another country (like a diplomat).

However, these are just essential eligibility criteria. To get your payments, you need to have following:

• Filed taxes in 2022. You'll need to do this even if you received no income or benefits in 2022.
• Your social insurance number (and your spouse's if married). You or your spouse can get the credit, but not both.

You can also get the credit for each of your children if they meet all of the following requirements:

• Under 19.
• Lives with you.
• Dependent on you or your spouse.
• Never married or lived with their own children.

How to apply for GST payments?

You don't need to apply for the GST/HST credit. The CRA will use information from your tax returns to determine if you're eligible and automatically send you the payments.

• If you haven't received your payment: make sure you have filed your taxes on time and that your information with the CRA is up-to-date.
• If you still haven't received it: contact the CRA for assistance.

Set up direct deposit with the CRA, as cheques can take longer to process.

Tips for making the most of  your GST payments

• Use the money for necessities like groceries or bills.
• Consider saving a portion of it for unexpected expenses or emergencies.
• If you have children, consider using it for their education or extracurricular activities.

Overall, the GST/HST credit is designed to help low and moderate-income Canadians offset some of the taxes they pay on essential goods and services. By understanding the eligibility criteria and how to apply, you can ensure that you receive this vital benefit from the government. 

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Let's go over some key takeaways from this guide:

• The GST/HST credit is a tax-free quarterly payment from the Canadian government that helps individuals with low or modest incomes offset GST/HST costs. Payments are made in January, April, July, and October.
• Payment amounts in 2024 are based on marital status, number of children, and adjusted family income. Examples include $496 for singles and $306 for married individuals, plus $81 for each child under 19.
• To receive your GST payments, you must file your taxes for 2022, meet essential eligibility criteria (such as being at least 19 years old and a resident of Canada), and keep your information with the CRA up-to-date.

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Frequently Asked Questions (FAQs)

How often are GST payments made?

GST payments are made quarterly, on the 5th day of January, April, July, and October each year. Keep an eye on your account for these payments and ensure you are up-to-date with your taxes to receive them.

How much can I expect to receive from the GST/HST credit?

The amount varies depending on your marital status, number of children, and adjusted family income. For example, a single individual may receive $496, while a married couple may receive $306 plus an additional $81 for each child under 19.

What if my income changes during the year?

If your income or family situation changes during the year (e.g. you get married or have a child), update your information with the CRA so that they can adjust your payment amount accordingly.

What happens if I move out of Canada?

If you move out of Canada, you won't be eligible for the GST/HST credit anymore. Make sure to inform the  CRA of your change in residency status so that you don't have to repay any amounts received after you move.

Are there other tax credits available besides the GST/HST credit?

Yes, various tax credits and benefits are available through the CRA, such as the Canada Child Benefit, Working Income Tax Benefit, and Disability Tax Credit. It's important to research and understand what you may be eligible for to maximize your financial benefits.

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