Introduction to GST Payment Dates
The Goods and Services Tax (GST) is a crucial part of the Canadian tax system. Implemented to provide financial relief to low and middle-income families, the GST credit is distributed quarterly to eligible recipients. In this blog post, we’ll explore the GST payment dates in Canada, helping you stay informed about when to expect your credit payments. We’ll also cover the basics of the GST credit and how to determine if you’re eligible.
What is the Goods and Services Tax (GST) Credit?
The GST credit is a tax-free payment provided by the Canadian government to help offset the Goods and Services Tax that low and middle-income individuals and families pay on their purchases. The amount received depends on your income, marital status, and the number of children in your family. The credit is distributed quarterly, with payments typically made in January, April, July, and October.
Canadian GST Payment Dates for 2024
To help you keep track of the GST payment dates, we’ve created a simple chart for the 2023 schedule:
| Quarter | Payment Date |
|---|---|
| January – March | April 5, 2024 |
| April – June | July 5, 2024 |
| July – September | October 4, 2024 |
| October – December | January 5, 2024 |
Please note that these dates are subject to change. We recommend checking the official CRA website for the most up-to-date information on GST payment dates.
Are You Eligible for the GST Credit? To be eligible for the GST credit, you must meet the following criteria:
- Be a resident of Canada
- Be at least 19 years old or have a spouse or common-law partner, or be a parent who lives with your child
- Have filed a tax return for the previous year
The amount of your GST credit will depend on your net income and family size. Generally, individuals who do not have low incomes will not be eligible for the GST credit. To calculate your GST credit eligibility and amount, you can use the online GST/HST Credit Calculator provided by the Canada Revenue Agency (CRA).
As of 2021, if your adjusted family net income meets or surpasses the threshold specified in the table below, you will not be eligible for a GST credit payment.
Adjusted Family Net Income for GST Credit Eligibility
| Family Structure | Adjusted Family Net Income |
|---|---|
| Single person | $49,166 |
| Single parent with one child | $55,286 |
| Single parent with two children | $58,506 |
| Single parent with three children | $61,726 |
| Single parent with four children | $64,946 |
| Married/common-law couple with no children | $52,066 |
| Married/common-law couple with one child | $55,286 |
| Married/common-law couple with two children | $58,506 |
| Married/common-law couple with three children | $61,726 |
| Married/common-law couple with four children | $64,946 |
How to Ensure You Receive Your GST Payments To receive your GST payments, make sure you:
- File your taxes every year, even if you had no income. The CRA uses your tax return to determine your eligibility and payment amount.
- Keep your personal information up to date with the CRA, including your address, marital status, and the number of children in your care.
- Sign up for direct deposit to have your payments deposited directly into your bank account. This ensures you receive your payments promptly and reduces the risk of lost or stolen cheques.
Canadian GST Payment Dates 2024
| Quarter | Payment Date |
|---|---|
| January – March | April 5, 2024 |
| April – June | July 5, 2024 |
| July – September | October 4, 2024 |
| October – December | January 5, 2024 |
Read More: CPP Payment Dates in Canada.
Jeff is a lawyer in Toronto who works for a technology startup. Jeff is a frequent lecturer on employment law and is the author of an employment law textbook and various trade journal articles. Jeff is interested in Canadian business, technology and law, and this blog is his platform to share his views and tips in those areas.