The Canadian residents have already received Canada Extra GST Payment 2024 in October. Now get ready as you all will be getting another Canada Extra GST Payment 2024 in August. The August month GST payment will be an additional amount for the eligible families and the upcoming payment will not be counted in the regular Canada GST Payments. The Canada Revenue Service distributes four such GST payments in a financial year. But this time, you will be getting five such GST payments for the financial year 2024-25. Check out the post to know the detailed information about the Canada Extra GST Payment eligibility criteria, dates, and how much it is in 2024.
Canada Extra GST Payment 2024
The Canada GST Payment is an offset payment for given to the residents to compensate for the taxes they have already paid to the CRA. The Service Canada has been providing the GST Payments to its residents for years. The benefits are provided four times a year. The first for a financial year comes in July 2024 followed by the October payment then in January and the final payment coming in April. For the base year 2023, the Extra GST Payment will be given to the residents and the GST Amount largely depends on the family size of the prospective beneficiaries.
OAS Payment Dates for October 2024
Suppose you are a married person and stay with your partner and have two children both under the age of 19, then you are going to receive a sum completely from the one who has one or no under-age children. If you have filed income tax returns on your income for the base year 2023, then you are not going to benefit from the upcoming Canada Extra GST Payment in 2024. To get the payment for next year, you necessarily have to file the income tax whether your income is taxable or not. The CRA requires you to file the previous year’s taxes because based on the same, the Extra GST Payments are determined.
Canada Extra GST Payment 2024 Quick Overview
| Title | Canada Extra GST Payment 2024 |
| Concerned Agency | The CRA |
| Country Origin | Canada |
| Category | Financial Aid |
| Expected Payment Dates | October 2024 |
| Accessible | Tax Payers |
| Payment Frequency | Once in 3 Months |
| Official Website | www.canada.ca |
How Much is Next GST Payment in 2024 in Canada?
The Canada Extra GST Payment 2024 is different for couples, children, and single adults. In all three cases, you are going to receive a different sum of payment from the CRA. So check the following point to know the exact Next GST Payment in 2024 in Canada.
- The Next GST Payment for the individual persons is $519. Here person refers to the ones who are filing taxes separately not including their common-law partner or spouse
- The Canada Extra GST Payment 2024 for the couples who have filed their previous year taxes in the joint will be getting $680 in the next GST Payment coming in August 2024
- And the eligible couples for each of their child, will receive $179 as the Extra GST Payment coming in 2024
- The above-mentioned amounts are accessible for the financial year 2024-25, till July 2024 to June 2025
Canada Extra GST Payment 2024 Eligibility
To meet the eligibility criteria, you are required to follow all of the below-mentioned points so that you can enjoy uninterrupted payments.
- You are a Canadian resident for tax purposes in 2023
- You also have filed the previous year’s taxes
- Have a home in the country
- The recipient is above the age of 19 in all circumstances
- Not confined to prison or imprisoned for more than 90 consecutive days
- Not an officer or diplomat in the country serving your native country
- You also possess a Social Insurance Number issued by the Services Canada
- The individual claimants cannot have an Adjusted Family Net Income of more than $41,071 if the AFNI goes higher the benefit amount will be reduced by 2% for the Canada Extra GST Payment 2024
- The AFNI for the couple claimants cannot be more than $57,288 if higher than this, the payment will be reduced by 2%
What are Canada Extra GST Payment 2024 Dates?
The Next GST Payment is coming on the 4th of October 2024. The next GST Payment will be coming on the 3rd of January 2025 followed by the 4th of April 2024 when the last GST Payment will be distributed to the families for the financial year 2024-25. Various social media rumors are making statements that Canada Extra GST Payment will be coming in August 2024. The payment is about to come on the 5th of August 2024 but the CRA has not clarified the news.
Usually, the payments are distributed to the residents four times a year. But as the rumors are saying that there might be another Extra GST Payment, it might be coming in August 2204. The Next GST Payment will be given to residents so that they can bear the rising inflation levels. Since the start of 2024, the cost of living in the country has been fluctuating so widely that it is quite near to impossible for the residents to have a comfortable life.
How to Claim Extra GST Payment?
- You do not need to do anything except file the previous year’s tax returns because the CRA will automatically enroll you for the payments.
- The Canada Extra GST Payment 2024 can be expected on the 5th of August 2024 you should note that the CRA has not confirmed the news yet so please wait till the Services confirms the news.
- For further information regarding the Next GST Payment 2024, you can check out the official website of the Service Canada.
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Christi has a unique blend of financial sense and industry knowledge. With a background in international finance and years of experience in delivering economic News around the Globe. Her clear and engaging writing style makes complex financial concepts accessible and informative for our readers.