Local companies and customers in Canada pay the harmonized sales tax (HST), which is a consumption tax. It harmonizes, or integrates, the federal goods and services tax and many province sales taxes, as the name suggests. The HST is used in five Canadian provinces; a comparable goods and services tax (GST) is used in other parts of the country.

HST Payment Schedule

Quarterly distributions of the credit are made. The GST/HST refund dates for the 2022 tax year are as follows:

• July 5, 2023 5
• October, 2023
• April 5, 2024
• January 5, 2024

You would have received a one-time payment from the Canada Revenue Agency (CRA) on July 5 if your total GST/HST credit for 2022 was less than $50 per quarter. On July 5, 2023, if you found two payments in your bank account, feel yourself fortunate and express your gratitude to the federal government for the Grocery Rebate.

Eligibility Requirements For HST Payment

You must be a resident of Canada and at least 19 years old, or If you’re under 19, you must fulfill one of the following requirements in addition to being a resident of Canada:

• You must be a parent, reside (or have lived) with your child, and have a spouse or common-law partner.
• Depending on whether you have children or not, you may need to fill out certain documents if you are a newcomer to Canada and would like to claim the GST/HST credit.

HST Payment Amount

If you are eligible for the Canada Child Benefit (CCB) and you have children under the age of 19, Here are a few scenarios of the highest annual payment to help you get an idea. Based on tax year 2022, with payments from July 2023 to June 2024, this is calculated:

Single: For a single person without children, the cost is $496 (between $20,000 and $40,000); for a single child, it is $821; and for two or more, there is an extra $171.

Married: Every one Married or in a common-law partnership without children: $650 (or $171 more if you make less than $42,335) for every kid under the age of 19. Not to mention, the GST/HST credit is not subject to taxes. Thus, when it comes time to file your taxes, you don’t have to claim it.

HST Recalculation

The following situations will affect how much you have to pay:

• Modifications to the net income of your family
• Modification of your marital situation
• A change in the number of kids you are raising When a recipient of the program dies

It’s a good idea to get in touch with the CRA as soon as these life events happen, so they can review and reassess your GST/HST payments and maintain proper records. After that, the CRA will send you a statement with the updated annual credit amount on it.