September 13, 2022 – Government of Canada: The Goods and Services Tax (GST) Credit helps offset the financial impact of the GST for low- and modest-income people and families. The credit is paid quarterly in January, April, July, and October, with benefit years beginning in July.
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.
To ensure the GST Credit is targeted to those who need it most, those with family net income of less than $39,826 in 2021 receive the full Credit amount. Above this income level, the GST Credit amount is gradually lowered as income increases.
The full phasing out depends on family type – for instance, it is fully phased out at about $49,200 for a single person without children, and at about $58,500 for a couple with two children.
Read the full backgrounder here
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