Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Today’s high inflation rates and the threat of a potential recession have many Canadians feeling uncertain about what the future holds for their finances.
To help combat inflation and help lower- and modest-income families, over the span of six months, Ottawa is issuing an additional one-time GST tax credit to eligible taxpayers. The maximum you could receive is anywhere between $234 and $628, depending on your living situation and whether or not you’re caring for dependents.
Today, I’ll show you who’s eligible for the increased GST credit, explain how to get it, and how much you could receive.
The federal Goods and Services Tax (GST) rate in Canada is 5%. The tax is imposed on taxpayers whenever they pay for retail goods and services. This amount is paid in addition to any other provincial sales tax that may be applicable, and many provinces have opted to combine the federal GST with the provincial tax to create a Harmonized Sales Tax (HST) rate.
Every year, eligible Canadian taxpayers can receive a GST/HST tax credit paid on the 5th of January, April, July, and October. The payment is issued by the CRA as a direct deposit or a mailed cheque with the aim of reducing some of the tax burden paid by lower-income families.
The new measure took effect in November, with the CRA began issuing one-time payments on November 4, 2022 and continued to issue them throughout the month. The extra payment will double the credit for six months for those who are eligible to receive it.
If you receive your GST credit payment as a lump sum, you will still receive the additional payment but may not have gotten it in November. The next payment, which will factor in the extra one-time payment, will be on January 5, 2023.
If you believe that you’re eligible to receive the increased GST tax credit and still have not received it, then you should contact the CRA and speak with an agent.
On October 18, 2022, Bill C-30 received Royal Assent from the federal government.
The bill is expected to provide aid to over 11 million Canadians by doubling the amount of the GST tax credit they’re already receiving and issuing it as a one-time payment.
The ensuing Bill C-31 received Royal Assent on November 17th, 2022, and will provide additional payments for the Canada Dental Benefit and the Canada Housing Benefit. Both of the bills are a part of the federal government’s overall Affordability Plan, which aims to make the cost of living more affordable for those who need it most.
If you’ve already received GST tax credit payments this year, then you’re likely already pre-approved to receive the increased GST tax credit. The eligibility criteria to receive the increased credit are the same as the requirements to receive the standard GST/HST tax credit:
Additionally, you must fall within a certain income threshold based on your adjusted family net income from the previous tax year:
The income threshold changes based on the number of children you have as well as your living situation. You can view the federal government’s full income threshold list for the GST/HST tax credit here.
Like the standard GST/HST tax credit, the increased GST tax credit is disbursed automatically and is based on the information you provided on your 2021 income tax returns.
If you’re eligible, the credit will be issued as a single payment and should be sent via direct deposit or cheque, depending on how you regularly receive your GST/HST tax credit payment.
The amount that you can get from the increased GST tax credit payment depends on your living status (single vs. married/common-law partnership) as well as the number of dependent children you have living with you.
Here is the maximum you could receive as a single taxpayer:
Here is the maximum payment you could receive if you’re married:
As you can see, the amount you’ll receive as a married/common-law couple is pretty much the same as the amount you’ll receive as a single applicant or single parent. The one exception is for recipients with no children. Single recipients with no children may receive $234, while married recipients with no children can receive up to $306.
Christopher Liew is a CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of daily Canadian readers on his Wealth Awesome website.
Do you have a question, tip or story idea about personal finance? Please email us at dotcom@bellmedia.ca.
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
Prime Minister Justin Trudeau is accusing Conservative Leader Pierre Poilievre of welcoming 'the support of conspiracy theorists and extremists,' after the Conservative leader was photographed meeting with protesters, which his office has defended.
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
Boeing said Wednesday that it lost US$355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
"It's a bit of a complicated pattern; we've got a lot going on," said Jennifer Smith of the Meteorological Service of Canada in an interview with CTVNews.ca on Wednesday. "[As is] typical with weather, all of these things are related."
Police tangled with student demonstrators in Texas and California while new encampments sprouted Wednesday at Harvard and other colleges as school leaders sought ways to defuse a growing wave of pro-Palestinian protests.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.