Canada Extra GST Payment December 2024: Check Payment Amount, Eligibility & Dates

Canada Extra GST Payment December 2024: A Timely Financial Aid for Low- and Modest-Income Canadians Find out who is eligible, how much you can expect, and how to make sure your payment gets processed smoothly.

In 2024, with ongoing economic challenges in Canada, the government continues to offer increased support to those that need it most. The Goods and Services Tax (GST) Credit has help in some cases prove invaluable for low- and modest-income households, and in December 2024.

And also a one-time additional GST payment to qualifying people and families. It’s a one-time top-up meant to provide relief to Canadians facing inflationary pressures and the extra financial pinch of the holiday.

What Is the Extra GST Payment?

The GST/HST credit is a program offered by the federal government that aids lower-income Canadians in offsetting the cost of the Goods and Services Tax (GST) or the Harmonized Sales Tax (HST) they pay on products and services. Normally the credit is paid out four times a year, but in 2024, the Canadian government will be sending a special, one-time GST payment in the form of a lump sum.

This supplemental payment will help as Canadian households continue to experience inflation, increased cost of living, and financial strain as we approach the end of the year.

In December 2024, Canadians who qualify for the regular GST/HST credit will get an extra payment on top of their normal quarterly payment. This supplemental payment will go out automatically to those who qualify, giving families a financial lift just before the holidays.

Eligibility for the Extra GST Payment?

In order to receive that second GST payment, a taxpayer must first qualify for the GST/HST. To qualify for the credit, you must meet certain requirements, which include income level, family size and where you live.

Key requirements to qualify for the extra GST payment:

• You must be a tax resident of Canada.
• You must have already filed your 2023 tax return.
• And even if you don’t owe taxes, the government uses the data in your tax return to see if you qualify and how much you’re owed.
• The GST/HST credit is meant for low- and modest-income Canadians.
• If you earn above specific limits, you won’t qualify for the credit at all, or you will receive a less amount.
• The more dependents you have, the higher your possible payment.
• Payments are generally higher for couples with children and single parents.
• You will be required to be at least 19 years old, living with a spouse or significant other, or have a child, to receive this program.

Important Challenges and Common problems

The additional GST payment is intended to help Canadians financially, but some people could run into problems or delays. Here are some frequent issues and how to fix them:

• If you think you’re supposed to get the extra payment and you haven’t already, the best thing to do is log on to your CRA account or to contact the CRA directly.
• Either your tax filing has mistakes or it has not updated your information correctly.
• If the amount you received is less than what you expected, it may have to do with the income information on your tax return being inaccurate.
• In such cases, a call to those folks can clear up mistakes.
• If you haven’t received your payment by direct deposit on the scheduled date, check that you provided the right bank account information to the CRA.
• Confirm with your financial institution that there aren’t any issues on their end.

Information About the Canada Extra GST Payment December 2024

1. Payment Date

Scheduled for 5 December, 2024. People receiving the payment will see it deposited directly into the bank account or by cheque.

2. Payment Amount

How much is the additional GST payment? It is based on:

Family size: Different amounts are given to single or couple households, and families with children.

Net worth: The payout declines as household income increases.

Here’s a approximate idea of the maximums amounts for December 2024:

The GST/HST credit and financial support

The GST/HST credit is a form of financial support offered by the Canadian government. It’s intended for lower-income people and households, but other programs might offer more help:

• Families with kids in the home may also qualify for the Canada Child Benefit, a monthly tax-free payment intended to assist with the costs of raising children.
• If you have lost wages due to many kinds of Employment Insurance benefits may be available to replace the income you are losing.
• The government has also rolled out other temporary relief measures in response to skyrocketing living costs, such as direct payments or rebates to challenge individuals and families.