GST/HST July 2024 Payout Date, Payment Amount, Eligibility & Other Details!

Every year, the GST/HST refund is distributed between June and July. You should be able to claim your GST/HST July 2024 Payout tax year, which runs from January 1 to December 31, 2023, between July 2024 and June 2025.

GST/HST July 2024 Payout

Four times a year, or once every three months, quarterly GST payments are given out. On July 5, 2023, payments for the fiscal year 2023–2024 were made. January 5, 2023, October 5, 2023, and April 5, 2023.

Even though the government has not yet announced the dates for the GST/HST credit payment, we are making assumptions. We believe that, in keeping with general historical patterns, the payments in the fiscal year 2024–2025 will also be paid on these days. 

This assumption has been made since the Canada GST HST Tax credit payments are normally paid on the fifth day of July, October, January, and April. 

You have to go to the CRA website as soon as the dates are made public by the authorities. If your quarterly income is expected to be less than $50, your GST/HST July 2024 Payout will be paid in full on July 5.

Canada GST HST Credit Amount

The amount of your GST credit payment is determined by the number of children under the age of 19 and your net income. A married couple may get up to $650 in 2023, a single individual may receive up to $496, and each child may receive a tax credit of $171.

The tax year will also affect how much these payments are. The payment amounts are determined by your 2022 income through June 2024. The amount that you will be paid between October 2024 and June 2025 will depend on your salary in 2023. Keeping that in mind, the following are the maximum sums you may now receive:

  • $496 for a single person
  • $650 for those married Or in a common-law relationship
  • $171 for each child under the Age of 18

We anticipate that the payout amount will be about this, while it is still too early to make any firm projections. Unofficial sources, however, claim that negotiations are underway to increase the tax credit amount to reflect COLA and inflation.

Your GST payment will be immediately deposited into the bank account you designated when you filed your tax return if you have opted for direct payments. You should anticipate receiving HST credit payments in the mail if they are paid to you by check.

GSTHST July Payout Date

How to claim the GST/HST credit?

You will be automatically evaluated for the GST/HST credit if you are a resident of Canada and submit an annual tax return, even if you have no income to declare. 

You will need to complete an application and send it to a local tax center if you are a newbie to Canada. Whether you have children or not will determine which exact form is needed.

  • You must fill out Form RC66, the Canada Child Benefits Application if you are a parent. This form is for all benefits for families and children, including the GST/HST credit, among others.
  • The GST/HST Credit Application for Individuals Who Become Residents of Canada, or Form RC151, is required if you are childless.
  • The GST/HST credit for your kid is also yours to claim. You most certainly already get your share of the GST/HST credit if you applied for and were granted the Canada Child Benefit (CCB).

However, you may need to register the additional kid for the GST/HST tax credit if you haven’t filed for the CCB or if you’ve subsequently welcomed a new family member into your household.

You may do this by choosing “apply for child benefits” in CRA’s My Account. In addition to providing your contact details, citizenship, and marital status, you will also need to fill out a form with your child’s name, gender, birth date, and place of birth.

Canada GST HST Credit Eligibility 2024

The CRA will assess your eligibility for the GST credit when you submit your previous year’s taxes. In addition to meeting the low-to-moderate income threshold set by the CRA, you also need to meet additional conditions, including as

  • 19 is the minimum age required.
  • You either now or previously were married.
  • You have a kid or children that you live with (or have lived with).
  • You must be a resident of Canada for income tax purposes in the month before and starting with that month to be eligible for the GST/HST credit.
  • You also have to meet certain income restrictions.
  • You should also consider if your kid is eligible for the GST tax credit. You may take care of their GST payment if they are under 19.

When is HST Return Coming in 2024?

The Canada Revenue Agency will pay eligible Canadian residents if they submit income tax returns and fulfill the qualifying standards. These days, a lot of individuals wonder why they have to pay the Goods and Services Tax and the Harmonized Sales Tax.

In most cases, filing a tax return is mandatory; applying for an HST 2024 Return is not. Every quarter, the tax credit is disbursed, and on the fifth day of the quarter, the HST Credit Payment Dates 2024 are credited.

The following list includes the dates for HST returns:

Monthly Quarters HST Payment Schedule 2024
July Quarter 5th July, 2024
October Quarter 5th October, 2024
January Quarter 5th January, 2025
April Quarter 5th April, 2025

HST rebates or refunds will be given out as soon as the CRA receives the unpaid monies and returns. Penalties and interest for unfiled reports may be assessed by the CRA up to the HST Due Date in 2024.

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