What is the GST/HST Tax Credit?
GST means Goods and Services Tax. HST means Harmonized Sales Tax. The Canadian government designed tax system to provide financial support to low-income individuals and families. The government started this tax system to reduce the burden of GST/HST, helping low-income individuals and families and raising their living standards.
GST/HST Rate Increase for 2024
The 9% GST Rate
GST/HST tax effective from January 1, 2024, now the Canadian government has increased GST tax from 8% to 9%. It is applicable rate of GST. On all taxable supplies the applicable GST rate will be 9%, no relaxation is given after this date.
Eligibility Criteria for the GST/HST Tax Credit
Who Qualifies?
GST/HST Tax Credit eligibility in 2024, check below criteria:
- applicant must be a citizen of Canadian or a permanent resident
- the applicant is eligible who has 19 years old or above
- fulfill the Canada Revenue Agency (CRA) income eligibility
Note that you may get benefit of this if you have a child under 19 years of age who is living with you, he may eligible to apply for the tax credit.
Payment Amounts for 2024
How Much Can You Expect?
GST/HST Tax Credit payment amount may vary based on your family composition. Check the estimated amounts for tax credit in 2024:
| Family Details | Amount |
|---|---|
| Single | $496 |
| Married | $650 |
| Child under 19 | $171 |
Due Dates for GST/HST Tax Credit Payments
Mark Your Calendar
The GST/HST Tax Credit payments are issued quarterly on the following dates:
| Quarter | Payment Date |
|---|---|
| 1st | April 5, 2024 |
| 2nd | July 5, 2024 |
| 3rd | October 5, 2024 |
| 4th | January 5, 2025 |
Applying for the GST/HST Tax Credit
Easy Application Process
New Canadian resident with children will apply for the GST/HST Tax Credit by completing Form RC66 (Canada Child Benefits Application). New Canadian resident without children will use Form RC151 GST/HST tax Credit Application form.
You may apply online:
- Visit the official website, canada.ca
- Sign in to your CRA My Account
- Click on “Apply for Child Benefits”
- Confirm your contact information, marital status, and nationality
- Enter your child’s details (if applicable)
- Submit the application and check the status in your My Account
Reassessment of GST/HST Tax Credit
Changes That Trigger Reassessment
GST/HST Tax Credit amount may be reassessed if any below changes occurs:
- If family net income change
- If marital status change
- Decrease or increase in the number of children
- Death of a beneficiary
Stay Updated
Stay updated to the latest information on the GST/HST Tax Credit in Canada, visit the official CRA website at https://www.canada.ca/gst-hst-credit.