New Canada GST Payment Dates 2024

Last Updated On 3 March 2024, 10:23 AM EST (Toronto Time)

GST Payment Dates 2024: Individuals and families with low or moderate incomes in Canada receive the GST/HST payment four times a year, which is a non-taxable payment that helps balance the goods and services tax and harmonized sales tax (GST/HST) they pay.

All Canadian residents for income tax purposes, including international students and work permit holders, are eligible for GST payments for the prior tax year.

Newcomers to Canada also qualify for GST payments, but they must apply for GST credit after entering the country.

This article explains the GST concept, eligibility criteria, how newcomers can apply for this payment, the maximum amount that you can get, and upcoming GST payment dates 2024:

What is GST, and how does it work?

GST, or products and services tax, is a value-added tax applied to the majority of products and services sold for domestic consumption in Canada.

At the federal level, the Canada Revenue Agency (CRA) administers GST, which is currently set at 5%, and it applies to a wide range of transactions, including but not limited to grocery purchases, rentals, and imports.

This tax is intended to be comprehensive, covering almost every stage of production and distribution.

One of the key foundations of GST is the “input tax credit” method.

This technique enables businesses to receive a credit for GST paid on purchases and expenses linked to their commercial operations.

Businesses can reduce the impact of the tax on their bottom line by offsetting GST paid on inputs against GST collected on outputs, increasing tax efficiency and justice.

Similarly, individuals in Canada making a transaction with a business get a certain amount of GST back on a quarterly basis.

GST payment eligibility

You are entitled to this credit if, at the beginning of the month in which the CRA makes a payment, you are considered a Canadian resident for income tax purposes.

Before the CRA pays you a quarterly payment, you must be at least 19 years old in that month.

If you are under 19 years old, you must meet at least one of the following conditions during the same time frame:

You are married or have had a common-law partner, either currently or formerly.
- OR
As a parent, you either currently live with your child or formerly did.

GST Payments: Who Should Pay and When?

Businesses operating in Canada are normally obliged to register for and return GST if their total yearly taxable supply exceeds $30,000.

Certain enterprises, however, may choose to register voluntarily even if their revenues fall below this threshold, especially if they expect to get considerable input tax credits.

GST payments are normally paid to the CRA quarterly, although enterprises with annual taxable revenues above $1.5 million must remit payments monthly.

To achieve compliance, enterprises must accurately record taxable supplies and claim qualifying input tax credits throughout the prescribed reporting periods.

How to Receive Your GST Payment

Even if you have no income in 2023, you must file a tax return to receive the GST/HST credit and any applicable provincial or territorial credits.

If you are a newcomer to Canada (foreign student, work permit holder, or permanent citizen), you can use one of the following two procedures to claim the GST/HST credit:

If you are not a parent,

Send in Form RC151, Application for GST/HST Credit and Climate Action Incentive Payment for Individuals Who Become Residents of Canada, completed for the year you become a resident of Canada, for tax purposes.

If you are a parent,

To apply for all child and family benefits, fill out Form RC66, Canada Child Benefits Application, and send it to the CRA tax centre.

Form RC66SCH, Status in Canada and Income Information for the Canada Child Benefits Application, must also be completed to acquire your citizenship and residency information, as well as your Statement of Income.

What is the maximum GST payment amount in 2024?

You may be eligible for up to the 2022 base year (payment period: July 2023 to June 2024).
$496 in the case of an individual.
If you have a common-law spouse or are married, you will pay $650. Each child under 19 years old will cost $171.

What are the upcoming GST payment dates in 2024?

The Canada Revenue Agency (CRA) will make quarterly GST/HST payments in 2024 on the following dates:

April 5, 2024;
July 5, 2024;
October 4, 2024.

When is the GST payment due in April 2024?

The upcoming GST payment is due on April 5, 2024.

Eligible individuals can get a maximum of $496, couples $650, and families with children an additional $171, depending on their annual income.

Gagandeep Kaur Sekhon

Gagandeep Kaur Sekhon moved to Canada in 2010 on a study visa. She navigated through the ups and downs of her student life and gained her permanent residency in 2015. Today, she is a proud Canadian citizen residing in Calgary, Alberta. She is mother of 2 beautiful daughters and making her difference through writing and guidance at INC – Immigration News Canada.