The federal government's boosted GST credits have gone out on Friday, and eligible Canadians can expect to see the money in their bank accounts or mailboxes in the coming days if they haven't already. CTVNews.ca explains what you need to know about the enhanced payments.
The federal government's boosted GST credits have gone out on Friday, and eligible Canadians can expect to see the money in their bank accounts or mailboxes in the coming days if they haven't already.
For six months, the quarterly GST credits will be doubled as a part of the measures put in place through Bill C-30, intended to help low- and modest-income Canadians deal with high inflation. Bill C-30 passed in the House of Commons with theThe federal government says an estimated 11 million individuals and families will benefit from this $2.5 billion program.
Anyone who was already eligible for the GST credit will be receiving double the amount they would've otherwise received.depends on your net income, marital status and how many children you have. There is no separate application necessary, as eligibility is based on your 2021 tax return. A single person with no children will not be eligible for any GST credit payments if they make over $49,166 in net income. A married or common-law couple with two children can make up to $58,506 in net family income before losing eligibility for the credit.also depends on your net family income as stated in your 2021 tax return, as well as marital status and how many children you have.
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