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Canadians may notice a little extra money in their bank accounts today as the latest round of GST/HST credit payments is being issued. This quarterly, non-taxable payment is designed to help offset the cost of the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) for people with low to modest incomes.
The Canada Revenue Agency (CRA) typically distributes these payments in January, April, July, and October. Most Canadians are automatically assessed for the credit when they file their taxes, ensuring those eligible receive it.
This payment round overlaps with the federal government’s ongoing tax holiday, which runs until February 15, 2024. However, those eligible for the GST/HST credit will still receive this payment as planned.
Keep an eye on your bank account for this additional financial relief, designed to support Canadians during the winter months. For more information, visit the official CRA website or check your eligibility through your recent tax filing.
(Written by: Emma Butler)