HST Payment Dates 2024 Next HST Payment Due Date – All We Know So Far

Check out the details about HST Payment Dates 2024 Next HST Payment Due Date – All We Know So Far from this article. Various details regarding the HST Payment Dates 2024 Next HST Payment Due Date – All We Know So Far and other notable details are included in this article.

HST Payment Dates 2024

Harmonized Sales Tax is applied in several provinces in Canada. HST is applied in provinces of Canada where the GST and PST are combined to form a single VAT. In order to minimize the impact of HST, the government offers HST Credits to citizens having low and modest incomes.

The HST Payments are generally done four times – July, October, January, and April. In addition, each HST Payment is made on the 5th day of these four months. In case the individuals have not received the HST Payment on the due date, they should wait for at least 10 days before contacting the Canada Revenue Agency.

HST Overview

Harmonized Sales Tax Credit 2024

With the increase in the HST and GST rates in Canada on various goods and services, difficulties for the citizens increased. Therefore, the Government introduced a tax-free quarterly payment that helps reduce the effect of the HST that individuals pay.

This Harmonized Sales Tax Credit can be different for each province, as the rates of PST in each province are different from one another. The Canadian Government and several provincial governments have changed the cascading tax system and formed direct transfer payments to lower-income groups.

HST Next Payment Due Date 2024

As mentioned, the HST Payments are made on a quarterly basis. Recently, the second HST Payment was made on October 5, 2023. Individuals who are not receiving the HST Credits can apply for it using the My Account services of the Government of Canada.

The Next HST payment due date is January 5, 2024. The due date for the Next HST Payment can also be checked by visiting the authorized website of the Canadian government. The HST Payment Dates for 2022 will be from July 2023 to June 2024.

HST Credit Eligibility 2024

Individuals are eligible to receive HST Credits if –

• They are at least 19 years old.
• They are Canadian residents.

In case the individuals are under 19 years old, they might still be eligible if they fulfill either one of the mentioned criteria-

• they are/were a parent and live/lived with their child.
• they have/had a spouse/common-law partner.

Some parents in shared custody are also eligible to receive half of the HST Credit for their child.

HST Amount 2023

The HST Credit Payment is based on the adjusted family net income and the number of children under 19 years old that have been registered for CCB and HST Credit. For the base year 2022, the payment can be –

• 496 dollars, if single
• 650 dollars if married or have a common-law partner
• 171 dollars for each child under 19.

All beneficiaries must keep CRA informed of any changes to their family size, current address, and marital situation.

How to Apply for HST Credit 2023

In most cases, the applicants don’t have to do anything to receive the HST Credits if they file their tax returns. By filing taxes, the CRA automatically considers the individuals for the HST Credit, even if they have no income to report.

However, the new residents of Canada must complete – Form RC66 (if they have children) or Form RC151 (if they don’t have children). After filling and signing the applicable forms, they have to mail these forms to the Tax Centers.

HST Payment – All We Know So Far 2023

According to the information, the HST Payments for July and October have been made by the CRA. HST Credit can also be availed for the Canada Child Benefit. In most of the cases, the applicants of CCB may already have been receiving the HST Credit. In case they have not applied for the CCB and had a child, they have to manually register the child to receive the HST Credit.

For this, they can login to “My Account” and apply for child benefits. Alternatively, they can also register for the HST Credit by submitting Form RC66 to the tax center.