Key Takeaways
- The GST/HST payment is a tax-free quarterly payment that helps low-income individuals and families offset the GST or HST they pay.
- The payment dates for the 2022 tax year are July 5, 2023, October 5, 2023, January 5, 2024, and April 5, 2024.
- You can apply for the GST/HST payment by filing your tax return, even if you have no income to report.
- You can check your payment status and amount online using the CRA My Account service or the MyBenefits CRA mobile app.
- You can also change your payment method, update your personal information, and report any changes in your family situation to the CRA.
![GST/HST Payment](https://hustlehub.ca/wp-content/uploads/2023/12/How-the-CPP-Enhancements-Will-Boost-Your-Retirement-Income-1.jpg)
What is the GST/HST Payment?
Hey, Hustlers! Do you want to get some extra cash from the government every three months? If you’re a low-income individual or family, you may be eligible for the GST/HST payment. This is a tax-free quarterly payment that helps you offset the GST or HST you pay on goods and services throughout the year.
The GST/HST payment is based on your net income, your marital status, and the number of children you have. The payment amount is adjusted every July to reflect your income tax return from the previous year. The payment is issued on the fifth day of January, April, July, and October unless it falls on a weekend or a holiday.
The GST/HST payment is not the same as the GST/HST credit, which is a non-refundable tax credit that reduces your federal income tax. However, you don’t have to apply separately for the GST/HST payment and the GST/HST credit. As long as you file your tax return, the CRA will automatically determine your eligibility and calculate your entitlement for both.
Also Read: New CRA Interest Rates: What You Need to Know
How to Apply for the GST/HST Payment?
Applying for the GST/HST payment is easy. All you have to do is file your tax return, even if you have no income to report. You can file your tax return online using HustleHub, the best tax software for Canadians. HustleHub will guide you through the process and help you claim all the tax credits and deductions you’re entitled to.
If you’re married or living common-law, only one of you can receive the GST/HST payment. The payment will go to the person whose tax return is assessed first by the CRA. Therefore, it’s a good idea to file your tax returns together and at the same time.
If you’re a newcomer to Canada, you may also be eligible for the GST/HST payment. However, you’ll have to fill out some extra forms and provide proof of your immigration status. You can find more information on the CRA website.
How to Check Your GST/HST Payment Status and Amount?
Once you’ve applied for the GST/HST payment, you may be wondering how much you’ll get and when you’ll get it. You can check your payment status and the amount online using the CRA My Account service or the MyBenefits CRA mobile app. You’ll need to register for these services and provide some personal information, such as your social insurance number, your date of birth, and your postal code.
You can also call the CRA’s automated GST/HST payment service at 1-800-959-1953. You’ll need to enter your social insurance number and follow the instructions. You can use this service to find out:
- Your GST/HST payment amount and date
- Your GST/HST account balance
- Your GST/HST payment history
- Your GST/HST payment method
How to Change Your GST/HST Payment Method and Information?
If you want to change your GST/HST payment method, you have two options: direct deposit or cheque. Direct deposit is the fastest and most convenient way to receive your payment. It’s also secure and reliable. You can sign up for direct deposit online using the CRA My Account service or the MyBenefits CRA mobile app. You can also fill out a direct deposit enrolment form and mail it to the CRA.
If you prefer to receive your payment by cheque, you’ll have to wait for it to arrive in the mail. You’ll also have to cash it at your bank or financial institution. If you move or change your address, you’ll have to update your information with the CRA as soon as possible. You can do this online using the CRA My Account service or the MyBenefits CRA mobile app. You can also call the CRA at 1-800-959-8281 or fill out a change of address form and mail it to the CRA.
If you have any changes in your family situation, such as getting married, divorced, separated, or having a child, you’ll have to report them to the CRA as well. These changes may affect your eligibility and amount for the GST/HST payment. You can report these changes online using the CRA My Account service or the MyBenefits CRA mobile app. You can also call the CRA at 1-800-387-1193 or fill out a marital status change form or a child status change form and mail them to the CRA.
Conclusion
The GST/HST payment is a great way to get some extra money from the government every quarter. It helps you cover the GST or HST you pay on goods and services throughout the year. To apply for the GST/HST payment, you just have to file your tax return using HustleHub, the best tax software for Canadians. You can also check your payment status and amount, change your payment method and information, and report any changes in your family situation using the CRA’s online services or phone lines. Don’t miss out on this opportunity to get some cash back from the taxman!
Source: (1) My Payment – Canada.ca. https://www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html. (2) Make a payment for a business – Payments to the CRA – Canada.ca. https://www.canada.ca/en/revenue-agency/services/payments-cra/business-payments/make-payment.html. (3) Remit (pay) the tax you collected – How to remit (pay) – Canada.ca. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/pay-how.html.