Navigating Financial Support: Canada GST/HST Credit Dates 2024

In 2024, newcomers to Canada have access to various federal benefits and credits, offering substantial financial support throughout the year. The Canada Revenue Agency (CRA) highlights that newcomers, including permanent residents, refugees, and temporary residents, may qualify for these payments, provided they meet residency criteria.

Upon arriving in Canada, individuals are considered newcomers for their first year of residency, as determined by the presence of sufficient residential ties in the country for income tax purposes. Here’s a comprehensive look at the benefits, credits, and payments available to newcomers in 2024:

1. Canada Child Benefit (CCB):
The CCB provides tax-free monthly payments to assist with the expenses of raising children under 18 years old. Maximum payments range from $619.75 to $522.91 per month per child, depending on their age.

2. GST/HST Credit:
This tax-free quarterly payment offsets the goods and services tax or harmonized sales tax paid by individuals with low to modest incomes. Eligible recipients could receive up to $496 if single or $650 if married, along with additional amounts for each child under 19.

3. Canada Carbon Rebate:
Formerly known as the climate action incentive payment, this tax-free payment helps offset federal pollution pricing costs. Residents of specific provinces can receive quarterly payments between $95 and $225, with additional amounts available for spouses or common-law partners and children.

4. Canada Dental Benefit:
Designed to lower dental costs for families earning under $90,000 annually, this benefit offers tax-free payments ranging from $260 to $650 per eligible child under 12 years old. Applications remain open until June 30, 2024, covering dental care from July 1, 2023, to June 30, 2024.

5. Canada Learning Bond (CLB):
The CLB supports post-secondary education costs by providing an initial payment of $500 in a Registered Education Savings Plan, along with $100 annually until the beneficiary turns 15, up to $2,000. Eligible individuals can apply until the day before they turn 21 years old.

These payments and benefits serve as crucial financial resources for newcomers, helping them adjust to life in Canada and achieve their educational and familial goals. It’s essential for newcomers to explore and take advantage of these opportunities to ensure their financial well-being and integration into Canadian society.