Canadians find extra money in the mail

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Many Canadians will have noticed a little extra cushion in their bank accounts thanks to a one-time increase in GST / HST checks.

GST / HST credits for low- and middle-income individuals and families have been doubled as part of Canada’s response to the COVID-19 pandemic, complementing other relief measures such as the Canadian benefit emergency aid (CERB).

Prime Minister Justin Trudeau announced the injection of $ 5.5 billion into the economy exactly one month ago – March 18 – when he deployed the federal emergency assistance program. He also announced a $ 1.9 billion increase in the Canada Child Benefit (CAS), advance plans for the Canada Emergency Allowance, deferral of income tax payments and a moratorium on the repayment of student loans.

“There are many families across the country who are considering seeing their sources of income dry up because of COVID-19,” said Trudeau, explaining that the additional GST / HST payments will arrive sooner than the payment date originally scheduled for May.

With the increase, the maximum amounts for GST / HST payments will drop from $ 443 to $ 886 for individuals; $ 580 to $ 1,160 for married couples and common-law partners; $ 290 to $ 580 for the first eligible child of a single parent; and $ 153 to $ 306 for each child under 19 (not counting the first eligible child of a lone parent).

GST / HST credits are distributed quarterly over the year. The unique bump is delivered immediately. So if your quarterly payment, like the one issued on April 3, is $ 72.50, you can expect $ 290 by check or direct deposit starting April 9. The payment amount is based on the family net income from your 2018 income tax return.

GST / HST credits are available to individuals and families who normally receive their GST / HST credit. They will automatically receive the special single GST / HST credit payment, provided they have produced their income for 2018.

Payments will be made to individuals and families even if they already receive CERB, the Canada Child Benefit Increase (CEA) and / or the Ontario Guaranteed Annual Income System (GAINS) for individuals. low-income seniors, which was also doubled for a period of six months for the relief of the COVID-19 pandemic.

@justsayrad



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