Canada Tax Agency Issues Guidance on GST/HST Credit

The Canadian Revenue Agency July 2 issued guidance on the GST/HST credit. The guidance includes: 1) relevant definitions; 2) that the GST/HST credit is non-taxable and is paid four times annually to individuals and families with low and modest incomes, for the purposes of offsetting GST/HST payments; 3) the eligibility criteria for receiving the credit; 4) procedures for obtaining the credit, including the requirement to file 2023 tax returns; 5) calculation procedures for the credit amount and specific conditions that require recalculation; and 6) the maximum amount of credit that taxpayers may receive and specific dates that taxpayers will receive ...