There is exciting news for those who file the federal income tax returns in Canada. Yes, you heard correctly. The extra GST credit will be given to the qualified income tax filers in Canada. This payment of extra tax credit will deliver financial stability and can reduce the sum of tax liability. In this post we can see what amounts for extra payment of tax credit will be made? And when these tax credit payments will be made and who are the income tax filers who get qualified for the extra assistance of tax credits. We will get each detail in this guide and know the reality and facts for this Canada Extra GST Payment August 2024.
Canada Extra GST Payment August 2024
GST Tax Credit in Canada is the credit which is made available to those who files the income tax return each year. This credit will reduce the sum of tax you own and this can result in the reduction or decline in liability for taxes. This GST Tax credit is tax free and not subjected to the taxes. This extra tax credit payment will be the additional financial support which will eradicate the financial stress and burden. This will help the citizens to manage their financial resources along with managing their expenditures and benefit payments. Only income tax filers will have access to this extra tax credit. In this guide you will get to know the qualification requirements along with the payment dates and payment amounts based on the income of the tax filer. Check this guide for factual details regarding Canada GST Increase 2024.
Canada.ca GST Payment Schedule 2024- Overview
| Title | Canada Extra GST Payment August 2024 |
| Country | Canada |
| Year | 2024 |
| Month | August |
| Name of the Payment | Goods and Services Tax Credit |
| Canada Extra GST Credit Eligibility 2024 | Qualified Citizens of Canada |
| Objective | Financial Payment |
| Canada Extra GST Credit Date August 2024 | Not Confirmed |
| Canada Extra GST Credit Amount 2024 | Check the article below |
| Category | Finance |
| Official Web Portal | www.canada.ca |
Canada Extra GST Credit Eligibility 2024
Canada Extra GST Credit Eligibility 2024 will be the same criteria as for regular GST tax credit. These qualification requirements are based on the age and residency status of an income tax filer. Check the criteria below for qualification:
- The tax filer age should be more than 19 Years.
- If the tax filer’s age is under 19 Years then that filer must be a parent who has a child or that tax filer must have a spouse.
- For income tax purposes the individual must have residency or citizenship in Canada.
Canada Extra GST Credit Date August 2024
Well no official Extra GST Credit Date August 2024 is released. The tax filers can expect their payment on the regular GST Tax credit schedule in which the payments are made to the tax filers quarterly. On the 5th of every quarter of the first month these credits are distributed among qualified tax payers. If on 5th there is a holiday or weekend falls then the tax credit can be made one working day before the weekend or holiday. Check the tax credit schedule below:
| Month | Payment Day | Payment Date |
| January | Friday | 5th |
| April | Friday | 5th |
| July | Friday | 5th |
| October | Friday | 4th |
Canada Extra GST Credit Amount 2024
Canada Extra GST Credit Amount 2024 is not released by the authorities of CRA. We have the regular GST Tax credit amount which is based on the income, marital status and household size.
Amount for Single Filers:
| Net Income | No Children | 1 Children | 2 Children | 3 Children | 4 Children |
| Below $11,039 | $340 | $859 | $1038 | $1217 | $1396 |
| $12,000 | $359.22 | $859 | $1038 | $1217 | $1396 |
| $15,000 | $419.22 | $859 | $1038 | $1217 | $1396 |
| $20,000 | $519 | $859 | $1038 | $1217 | $1396 |
| $25,000 | $519 | $859 | $1038 | $1217 | $1396 |
| $30,000 | $519 | $859 | $1038 | $1217 | $1396 |
| $35,000 | $519 | $859 | $1038 | $1217 | $1396 |
| $40,000 | $519 | $859 | $1038 | $1217 | $1396 |
| $45,000 | $485.20 | $825.20 | $1004.20 | $1183.20 | $1362.20 |
| $50,000 | $235.20 | $575.20 | $754.20 | $933.20 | $1112.20 |
| $55,000 | $0 | $325.20 | $504.20 | $683.20 | $862.20 |
| $60,000 | $0 | $75.20 | $254.20 | $433.20 | $588.20 |
| $65,000 | $0 | $0 | $4.20 | $183.20 | $362.20 |
| $70,000 | $0 | $0 | $0 | $0 | $112.20 |
Amount for Married Filers:
| Net Income | No Children | 1 Children | 2 Children | 3 Children | 4 Children |
| Below $44,324 | $680 | $859 | $1038 | $1217 | $1396 |
| $44,324 | $680 | $859 | $1038 | $1217 | $1396 |
| $45,000 | $646.20 | $825.20 | $1004.20 | $1183.20 | $1362.20 |
| $50,000 | $396.20 | $575.20 | $754.20 | $933.20 | $1112.20 |
| $55,000 | $146.20 | $325.20 | $504.20 | $683.20 | $862.20 |
| $60,000 | $0 | $75.20 | $254.20 | $433.20 | $612.20 |
| $65,000 | $0 | $0 | $4.20 | $183.20 | $362.20 |
| $70,000 | $0 | $0 | $0 | $0 | $112.20 |
FAQ Related To Canada Extra GST Payment August 2024
No, this payment for Extra GST Tax Credit is not confirmed.
In October 2024, the next payment will be made for GST Tax Credit.
John Wick is a Media and Finance editor, passionate about writing and editing content related to finance and taxes. He has achieved dual degree in Mass Media and Finance From one of the top universities in the World. He is keen to learn new things and changes which take place in the world of Finance and stocks.