Hey Hustlers! Whether you’re juggling work, family, or just trying to keep track of your finances, understanding Canada’s FPT payment dates is crucial. Let’s dive into what these payments are, who qualifies, and when you can expect them.
Key Takeaway Box
Canada FPT payments are government deposits for benefits like the GST/HST credit and Canada Child Benefit (CCB). They are non-taxable and paid either quarterly or monthly. Key payment dates for 2024 include:
- GST/HST Credit: January 5, April 5, July 5, October 4
- Canada Child Benefit: January 19, February 20, March 20, April 19, May 17, June 20, July 19, August 20, September 20, October 18, November 20, December 13
What is Canada FPT?
Canada FPT stands for “Federal-Provincial-Territorial” tax credits. When you see a deposit labeled “FPT” in your bank account, it usually represents payments from benefits such as the GST/HST credit or the Canada Child Benefit (CCB).
GST/HST Credit
The GST/HST credit helps offset the sales tax you pay on goods and services. It is paid quarterly on:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
Canada Child Benefit (CCB)
The CCB supports parents with the cost of raising children under 18. Payments are monthly:
- January 19, 2024
- February 20, 2024
- March 20, 2024
- April 19, 2024
- May 17, 2024
- June 20, 2024
- July 19, 2024
- August 20, 2024
- September 20, 2024
- October 18, 2024
- November 20, 2024
- December 13, 2024
Eligibility Criteria
GST/HST Credit
To be eligible for the GST/HST credit, you must:
- Be a Canadian resident for income tax purposes.
- Be at least 19 years old, have or had a spouse or common-law partner, or be a parent who lives/lived with your child.
Canada Child Benefit (CCB)
To qualify for CCB, you need to:
- Be a Canadian resident for tax purposes.
- Live with a child under 18 and be primarily responsible for their upbringing.
- Apply through birth registration or online via MyAccount with CRA.
Frequently Asked Questions (FAQs)
What is the Canada FPT deposit?
The FPT deposit includes payments for benefits like GST/HST credits and the CCB, issued by the CRA based on your tax information.
Is the FPT deposit taxable?
No, Canada FPT payments are non-taxable.
How do I apply for the CCB?
Apply through your province’s birth registration process or via MyAccount with CRA.
When are the GST/HST payments made?
Payments are made quarterly in January, April, July, and October.
Do I need to file taxes to receive these payments?
Yes, filing your taxes annually is essential to determine your eligibility.
What if I didn’t receive my payment?
Check your CRA MyAccount for details or contact CRA directly.
Can these benefits be combined with other provincial credits?
Yes, additional benefits like the British Columbia Climate Action Tax Credit or the Ontario Senior Homeowners’ Property Tax Grant may also be issued under the FPT code.
Additional Resources
For more detailed information, you can visit the following official resources:
Stay on top of your finances, Hustlers, and make sure you’re getting all the benefits you’re entitled to. For more helpful tips and resources, don’t forget to visit HustleHub.