The federal government's boosted GST credits have gone out on Friday, and eligible Canadians can expect to see the money in their bank accounts or mailboxes in the coming days if they haven't already.

For six months, the quarterly GST credits will be doubled as a part of the measures put in place through Bill C-30, intended to help low- and modest-income Canadians deal with high inflation. Bill C-30 passed in the House of Commons with the support of all parties on Oct. 6 and received Royal Assent on Oct. 18.

The federal government says an estimated 11 million individuals and families will benefit from this $2.5 billion program.

Here's what you need to know about the enhanced GST credits:

WHO IS ELIGIBLE FOR THE BOOSTED GST CREDIT?

Anyone who was already eligible for the GST credit will be receiving double the amount they would've otherwise received.

Eligibility for the GST credit depends on your net income, marital status and how many children you have. There is no separate application necessary, as eligibility is based on your 2021 tax return.

A single person with no children will not be eligible for any GST credit payments if they make over $49,166 in net income. A married or common-law couple with two children can make up to $58,506 in net family income before losing eligibility for the credit.

HOW MUCH ARE THE PAYMENTS?

The amount of money you can receive also depends on your net family income as stated in your 2021 tax return, as well as marital status and how many children you have. If you are single, you can receive up to:

  • $234 if you have no children
  • $387 with one child
  • $467 with two children
  • $548 with three children
  • $628 with four children

Those who are married or have a common-law partner can receive up to:

  • $306 if you have no children
  • $387 with one child
  • $467 with two children
  • $548 with three children
  • $628 with four children

You can check how much you're eligible to receive by logging into the CRA's My Account and checking the latest GST/HSTC notice under the "Mail" section. You can also manually calculate how much in GST credit you're eligible to receive using the CRA's calculation sheet.

WHEN WILL THE PAYMENTS BE ISSUED?

The first of the enhanced GST credit payments were issued on Nov. 4, although it may take some time for money to arrive in your bank account or mailbox. If you're eligible but haven't received your payment, the CRA recommends waiting 10 business days before contacting it.

The next GST credit payment will be issued on Jan. 5, 2023.