To assist Canadians facing rising living costs, the federal government is introducing an Extra GST Payment for 2024. This initiative aims to support low- and moderate-income households by helping offset the Goods and Services Tax (GST) on essential items.
Eligibility Requirements
To qualify for the Extra GST Payment, you must meet several criteria:
- Canadian Residency: You must be a resident of Canada to file taxes.
- Income Requirements: Your family’s adjusted net income must fall below specific thresholds, generally around $35,000 for individuals. The exact cutoff varies based on family size and other factors.
- Tax Return Filing: You need to have filed your 2023 income tax return, which is used by the CRA to determine eligibility and payment amounts.
- Age: Applicants must be at least 19 years old. However, if you are under 19 and a parent living with a child, or if you are a spouse or common-law partner, you may still qualify.
Payment Amounts
The amount you receive depends on your marital status, income level, and number of children under 19:
- Individuals Without Children: Up to $519
- Married or Common-law Couples: Up to $650 per couple
- For Each Child Under 19: $171
The highest payments are allocated to households with the lowest incomes, providing significant assistance where it is most needed.
Payment Schedule
The Extra GST Payment will be issued on the same schedule as the GST/HST credit payments:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
Application Procedure
The application process is straightforward:
- File Your Income Tax Return: Ensure your 2023 income tax return is submitted by the deadline. This triggers the CRA’s evaluation for eligibility, even if you have no income to report.
- Verify Your Eligibility: The CRA will automatically verify your eligibility using your tax return information. You can also check your status by logging into your My CRA Account.
- Receive Your Refund: Payments will be transferred directly to your bank account or sent as a check, depending on your chosen method.
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For more information on the Extra GST Payment, including detailed eligibility and application procedures, visit OMD News. This payment aims to alleviate financial pressures for those most affected by rising living expenses, making it an important support measure for many Canadian households.
