Stay updated with breaking news from St Payment Dates. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A technical issue led the Canada Revenue Agency (CRA) to announce delays for Canadians expecting to receive the Goods and Services Tax Credit and/or Ontario's Trillium Benefit (OTB), both of which should already have been paid to eligible taxpayers.
There are plenty of ways the Government of Canada gives out money to Canadians in need, including the Goods and Services Tax (GST) credit, which applies to lower-income residents and helps offset the impact of the federal sales tax on some households. But figuring out how it works is a little complicated, which is why we've broken it down as simply as possible.
Canada's new extra GST credit payment is rolling out in the near future — like, next week near — and if you've been eligible in the past, it's worth checking if you'll benefit from this extra boost. The doubling is part of Bill C-30, the Cost of Living Relief Act, which was approved earlier in October.
The government's plan to double the GST Credit has been approved, which means eligible Canadians will get hundreds of dollars more over the next six months. On Tuesday, the feds announced that Bill C-30, the Cost of Living Relief Act (Targeted Tax Relief), had received Royal Assent. This means the GST Credit will be doubled for the next six months.
The feds' plan to double the Goods and Services Tax (GST) credit for half a year has been approved. The goal of the limited-time bonus is to diminish the impact of inflation and make life more affordable for many Canadians. Officials estimate that about 11 million eligible taxpayers will be able to get more money back from the government as a result.