Many Canadians can expect more money in their pockets over the next six months. Those receiving GST rebate cheques or deposits will see their payments doubled for six months to help offset rising inflation.
You automatically apply for the GST rebate when you file your taxes. Low and modest income Canadians who qualify automatically receive the payments.
In an announcement yesterday, Prime Minister Justin Trudeau announced that Canadians who receive the rebates will receive a hike in their payments beginning October 5, 2022.
“This will provide hundreds of dollars of support to Canadians, including half of all families and half of all seniors in the country,” said Trudeau. “For example, parents with two kids could receive up to an extra $467 this fall to help with the cost of living,”
The total annual value of the GST Credit depends on family size and income. For the July 2022 through June 2023 benefit year, eligible people can receive up to:
- $467 for singles without children;
- $612 for married or common-law partners;
- $612 for single parents; plus
- $161 for each child under the age of 19.