Urgent Alert New GST Payments Rolling Out Across Canada This October—Are You Affected

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Urgent Alert: New GST Payments Rolling Out Across Canada This October—Are You Affected? • _______________________________________________ • • 🔴 The Canada Revenue Agency (CRA) is set to distribute the next HST/GST payment on October 4, 2024, as part of its quarterly financial support to low- and modest-income Canadians. This non-taxable benefit is designed to help individuals and families offset the costs of the goods and services tax (GST) and harmonized sales tax (HST), making essential goods and services more affordable. • _______________________________________________ • 🔴 Payments are issued four times a year, and the October payment is the second for the 2024-2025 period. To qualify for the credit, individuals must meet certain criteria: they must be Canadian residents for tax purposes, at least 19 years old (or meet specific conditions if under 19), and they must have filed a 2023 tax return, even if they had no income. Filing a tax return is crucial, as the CRA uses the information to determine eligibility and the amount of payment. • _______________________________________________ • 🔴 For newcomers to Canada, such as international students, work permit holders, and new permanent residents, eligibility for the HST/GST payment begins after filing their first Canadian tax return. They can apply using specific forms based on their family status: Form RC151 for individuals without children or Form RC66 for those with children. • _______________________________________________ • 🔴 The amount eligible Canadians receive depends on their family net income, with higher amounts for individuals with children. For example, in the 2023 base year, single individuals could receive up to $519, while families with two children could get up to $1,038. The CRA calculates the payment based on the previous year’s tax return, and those eligible would have received a notification in July 2024 with their estimated payment amounts. • _______________________________________________ • 🔴 The October 2024 payment is part of a series of scheduled payments, with future installments set for January 3 and April 4, 2025. Payments are typically issued on the fifth of the month, but if this falls on a weekend or federal holiday, they are sent on the last business day before. Canadians who do not receive their payment within 10 working days should contact the CRA for assistance, as delays may occur due to processing issues or outdated information on file. • ________________________________________________ • 🔴 In addition to the HST/GST credit, several other government benefits are being distributed in October 2024, including the Ontario Trillium Benefit, Advanced Canada Workers Benefit, Climate Action Incentive Payment, and the Canada Child Benefit. To ensure timely receipt of payments, it's essential to update any changes in address or banking information through the CRA My Account or by contacting the CRA directly. • ________________________________________________ • 🔴 For those who missed filing their 2023 tax return, it's still possible to file late and claim benefits retroactively. The CRA will review any missed payments and determine eligibility once the return is processed. Filing taxes, even with no income, ensures access to valuable benefits like the GST/HST credit. • _______________________________________________ • 🔴 Families with children benefit from additional payments, receiving $179 per child under 19. Marital status changes can also impact the payment amount, so it's important to update the CRA promptly if your status changes. • _______________________________________________ • 🔴 This quarterly payment is a critical source of financial support for many Canadians, helping to ease the burden of everyday expenses. For anyone eligible, filing taxes on time and keeping personal information up to date with the CRA are essential steps to receiving these benefits. • #CanadaGST #HSTPayment #GSTCredit #CanadaBenefits #CRA #CanadianTaxes #TaxBenefits #LowIncomeSupport #FinancialRelief #CanadianFamilies #GSTHST #OctoberGST #TaxCredit #CanadianResidents #IncomeSupport #GovernmentBenefits #GSTPayment #GSTHSTCredit #CanadianTaxpayer #TaxReturn #CostOfLivingRelief #FamilyBenefits #NewcomerBenefits #CanadaTaxCredits #GSTHSTPayment #FinancialAid #TaxRelief #GSTDates #BenefitPayment #CRABenefits #CanadaAssistance

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