It's time for a tax deduction
Canada Revenue Agency is once again giving money back to citizens – and not only them.
Canadian authorities are once again reminding us how beneficial it is to be a good and law-abiding citizen. Tomorrow, October 5, the tax agency will send the quarterly tax credit to everyone who is eligible.
It is a tax credit to help balance the goods and services tax and harmonized sales tax (GST/HST). It is available to individuals and low-income families four times a year. The previous billing period was July 5 and the next one is expected to be on January 5.
Who can receive a payout?
All proud Canadian taxpayers by the beginning of the month in which the payment is made (currently October) are eligible for the payment. The recipient must also be at least 19 years old at least one month before the payment is made (by September 5, 2023).
However, younger taxpayers can also claim the deduction if they are currently married/partnered or living with their minor child.
How do I get one?
To receive the payment, you must file a tax return for the previous year — 2022 — even if there was no income for the entire period.
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