Discover the GST and HST refund schedule 2024, unveiling detailed release amounts and refund dates. Stay informed and plan ahead with precise insights into when to expect your refunds.
There are two distinct forms of taxes in Canada: GST and HST. GST is a national tax that is paid by Canadian sellers of goods and services that are sold within the country. Certain Canadian territories and communities combined the sale of their goods and services with the Harmonized Sales Tax (HST). The quarterly payment of the GST/HST Credit 2024 aids in balancing the GST & HST payments made by low-income or financially disadvantaged individuals and their families.
To understand the form of the payments deposits under the GST & HST Tax Credit Canada, consult the GST & HST Refund Schedule 2024. Prior to that, the person must visit canada.ca to verify their eligibility for a GST and HST refund in 2024. Businesses affected by wildfires in British Columbia and the northwest region of Canada will not be assessed interest or penalties by the Canada Revenue Agency.
GST and HST Refund Schedule 2024
If you filed a tax return, your name will be automatically taken into account for the GST and HST Refund. Your GST & HST Refund Payment Amount will be computed using the four payments that you made in accordance with the 2022 tax return that you filed. The GST & HST Refund 2024 Payment Amount received from canada.ca is not subject to taxation. Every year on July 5th, the full amount of your GST and HST refund will be credited to your account if it is less than $50.
If your GST & HST Refund exceeds $50, the amount will be deposited into your account or mailed to you. You can expect to receive your refund within a few weeks after processing. It’s important to keep your information up to date with the Canada Revenue Agency to ensure smooth processing of your refund.
To ensure you receive your GST & HST Refund, make sure to file your taxes accurately and on time. You can also contact the Canada Revenue Agency for any inquiries or assistance regarding your refund or eligibility.
GST & HST Refund Schedule 2024 Overview
| Canada Tax Authority | Canada Revenue Agency |
| Name of the Tax | GST & HST |
| Objective | To help the financially weaker families |
| GST & HST Benefits 2024 | To give qualified people the Canada Child Benefits and tax breaks |
| GST & HST Refund 2024 Eligibility | The minimum age should be 19 years old. Need to be a Canadian permanent resident. |
| Frequency of GST & HST Refund 2024 | Four times a year |
| GST & HST Refund 2024 Payment Dates | 5th day of Each Year in January, April, July & October Month |
| Refund Amount | For single: $496 For Married: $ 650 For Having child: $171 for each child |
| Post Category | Finance |
| Official Website | www.canada.ca |
GST & HST Refund Schedule 2024
| GST & HST Refund Dates 2024 |
| January 5, 2024 |
| April 5, 2024 |
| July 5, 2024 |
| October 5, 2024 |
GST & HST Refund 2024 Eligibility:
To be eligible for the GST & HST Refund in 2024, you must be a permanent resident of Canada for tax purposes at the start of the financial year. Additionally, beneficiaries must be 19 years old or older at the time of the first payment made by the Canada Revenue Agency (CRA) for the GST & HST Refund in 2024. If a beneficiary is under 19, they must meet one of the following conditions:
- Have a spouse or common-law partner.
- Be a parent living with a child in Canada. Those ineligible for the GST & HST Refund in 2024 include:
- Non-permanent residents of Canada according to CRA Payment Dates 2024.
- Individuals working as officers or servants of another country, or being family members or employees of such persons.
- Individuals spending at least ninety consecutive days in prison or similar facilities.
- Deceased beneficiaries.
How is GST & HST Refund Calculated?
The GST & HST Refund for the year 2023 is calculated using information from the previous year’s tax return (2023). The GST & HST Refund 2024 Payment Amount is distributed over 12 months on a quarterly basis. The first installment is paid in July of that year, and the final installment is paid in June of the following year. If the CRA determines your eligibility for the GST & HST Refund 2024, they will send an official letter to your residence detailing the amount and the information used for the calculation.
Factors considered for the calculation include:
- Marital status (single or married).
- Number of children registered under CRA.
- Total net income earned by your family in the previous year (2023).
| Previous year | GST & HST Refund Payment Amount 2024 Period | |||
| 2022 | July 2023 | October 2023 | January 2023 | April 2023 |
| 2021 | July 2022 | October 2022 | January 2022 | April 2022 |
| 2020 | July 2021 | October 2021 | January 2021 | April 2021 |
GST & HST Refund 2024 Payment Amount
The government will pay the specified amount based on the beneficiary’s category to which they belong.
| Category | Amount |
| If you are single | $496 |
| Married or having a common law partner | $ 650 |
| Having child under the age of 19 years | $171 for each child |
Amount of Grocery Rebate
The government implemented the Grocery Rebate in the federal budget for 2023 in an effort to reduce the targeted inflammation. The reimbursement will be provided to Canadians who suffer from inflammation. The family’s financial situation in January 2023 and the adjusted net income from the previous year (2021) were used to calculate the GST and HST refund. The government will pay the rebate amount in July 2023. The government will pay the specified amount based on the beneficiary’s category to which they belong.
| Category | Amount |
| If you are single | $234 |
| Married or having a common law partner | $ 306 |
| Having child under the age of 19 years | $81 for each child |
GST/HST Credit Recalculation:
Your GST & HST Refund will be recalculated if any of the following reasons apply. The Canada Revenue Agency (CRA) will send a notice with the updated refund amount for the year if:
- Your or your common-law partner/spouse’s net income changes.
- Your marital status changes.
- The number of children you have changes.
- The recipient of the HST & GST Refund passes away.
Northwest Territories GST & HST Refund 2024 Payment Amount
| Zone | Amount Paid |
| A | Adult : $ 441 |
| Child: $ 493 | |
| B | Adult : $ 483 |
| Child: $ 535 | |
| C | Adult : $ 558 |
| Child: $ 610 |
GST & HST Refund Schedule 2024 Link
Summary
The GST (Goods and Services Tax) and HST (Harmonized Sales Tax) are two types of taxes in Canada. GST is a national tax paid by sellers on goods and services sold within Canada, while HST is a combined tax in certain territories. The GST & HST Credit 2024 is paid quarterly to balance payments made by low-income individuals and families. Eligibility for the refund is determined by filing tax returns, with payments exempt from tax. The refund schedule occurs four times a year on the 5th of January, April, July, and October. Amounts vary based on marital status and children. Recalculation happens if there are changes in income, marital status, or family size.
FAQs on GST & HST Refund Schedule 2024
Who qualifies for the GST & HST Refund?
Individuals aged 19 and above, permanent residents of Canada, with income below a certain threshold.
What is the frequency of GST & HST refunds?
Refunds are issued quarterly, four times a year.
What are the payment dates for the GST & HST refund?
Payments are made on the 5th of January, April, July, and October each year.
Is the GST & HST refund taxable?
No, the refunded amount is exempt from tax.
What happens if my refund is $50 or less?
The full amount will be credited into your account on July 5th of each year.
How is the refund amount calculated?
It’s calculated based on marital status, number of children, and net income from the previous year.
Can I get a refund if I’m not a permanent resident of Canada?
No, non-residents are not eligible for the refund.
What happens if my marital status changes?
The refund amount may be recalculated, and you’ll be notified by the CRA.
Is there a grocery rebate included in the refund?
Yes, a grocery rebate is included to assist with financial relief.
When does the grocery rebate payment occur?
The rebate payment is made in July of each year.
Are there specific amounts for the grocery rebate?
Yes, amounts vary based on marital status and number of children.
What if my income changes after receiving the refund?
The refund may be recalculated based on the updated information.
Is there a separate refund schedule for Northwest Territories?
Yes, specific payment amounts apply to different zones within the Northwest Territories.
How do I ensure I receive the GST & HST refund?
File your tax return regularly and meet the eligibility criteria.
What if I have more questions about the refund schedule?
You can find more information on the official Canada.ca website or contact the Canada Revenue Agency.
