GST payment just dropped in Canada for October 2023
Some Canadians will receive a GST credit payment from the federal government today, which will hopefully help with thesoaring cost of living.
Thegoods and services tax/harmonized sales tax(GST/HST) credit is a tax-free quarterly payment.
It aims to help Canadian individuals and families with low to modest incomes offset the taxes that they pay.
The GST/HST credit payment was issued today, October 5th!
— Canada Revenue Agency (@CanRevAgency)October 5, 2023
Didn’t get your payment? It can take up to 10 business days to arrive. Check the status of your payment in My Account or the MyBenefits CRA mobile app:https://t.co/uCTAu7rVGR#CdnTaxpic.twitter.com/omZSVljdtQ
If you're eligible, you’ll seeextra cash in your bank accounton Thursday, October 5.
The government says you're generally eligible for the payment if you're at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment and at the beginning of the month.
If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period:
Parents in a shared custody situation may be eligible for half of the credit for that child, according to the government.
According to the government, you could get up to:
You don’t need to apply for the credit because you're automatically considered for it when you file your taxes.
拉st year, Ottawadoubled the GST credit for six monthsduring the height of inflation.
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