Canada GST has increased in 2024. As the Canadian Government has raised the GST rates, many businesses will get affected by these GST rate changes.
Due to the Canada GST increase, there Will be a drastic change in consumer price of services in Canada.
Key reading this article to learn who is eligible for GST increase 2024, how much is the GST increase, also how to get it.
In this article;
- Canada GST Increase 2024
- Province Wise Canada GST Rates 2024
- How much is the GST/HST enhancement in Canada 2024?
- Canada GST Increase 2024 Payment Dates
- Canada GST Eligibility 2024
Canada GST Increase 2024
The Canada GST (Goods and Services Tax) has undergone changes in its rate throughout its history. The current GST rate is 5%, which has been in effect since January 1, 2008, after being lowered twice from its original rate of 7%.
The GST is a value-added tax introduced in Canada on January 1, 1991, and is administered by the Canada Revenue Agency (CRA). The GST is combined with provincial sales tax (PST) in some provinces to create a harmonized sales tax (HST). In provinces where HST is not in place, the GST and PST are collected separately. The GST raised 11.7% of total federal government revenue in 2017-2018.
The federal government introduced an increased GST tax credit to help combat inflation and support lower- and modest-income families. Every year Canada taxpayers receive a GST/HST tax credit payable on the 5th of January, April, July, and October by the CRA through direct deposit or cheque. The amount varies depending on recipients’ living situation and if they’re caring for dependents.
However, as of February 4, 2024, there has been an announcement that the GST rate will increase by 9% starting from January 1, 2024. Canada suppliers are advised to register in GST and check their status from the Canada official online portal www.canada.ca to ensure accurate and up-to-date knowledge of the Canada GST Increase 2024 and its changes in Canada.
Province Wise Canada GST Rates 2024
Canada Government released Province Wise Canada GST Rates 2024. While some Provinces will have the same GST Rates, several Provinces that use combined provincial sales tax along with GST will have different Province Wise Canada GST Rates 2024.
| Provinces/Territories | Province Wise Canada GST Rates 2024 |
| Quebec | 5% |
| Manitoba | 5% |
| NorthWest Territories | 5% |
| British Columbia | 5% |
| Nunavut | 5% |
| Saskatchewan | 5% |
| Yukon | 5% |
| New Brunswick | 15% |
| Nova Scotia | 15% |
| Newfoundland | 15% |
| Lebrador | 15% |
| Price Edward Island | 15% |
| Ontario | 13% |
| Alberta | 5% |
How much is the GST/HST enhancement in Canada 2024?
With the additional CPP contribution ( second additional CPP) to the CRA, there will be an additional second credit deposit in the recipient CPP account. The additional annual increase is set to be $304 yearly. Beneficiaries will get a monthly credit up to $4,4045, which includes GST/HST credit, whereas $74,000 funds will be activated from the second ceiling.
Canada GST Increase 2024 Payment Dates
The Canada Agency Revenue will make four quarterly Canada GST/HST payments 2024 as below:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 4, 2024
If the payment date falls on a weekend or public holiday, you’ll receive payments on the final working day before 5th. In case you’ve not received your payments after 10 working days, you can contact CRA officials.
What Canada GST Increase Payments Come Out In January 2024?
The GST increase payments are due on January 5, 2024.
Eligible individuals will receive a maximum up to $496, couples will get $650, and $171 to families with children. These amounts will depend on beneficiaries’ annual income.
Canada GST Eligibility 2024
To qualify for this credit, you must be a Canadian tax resident at the start of the month when the CRA issues payment. Additionally, individuals must be at least 19 years old before receiving a quarterly payment.
If you’re under 19, meeting one of the following conditions during the same timeframe is necessary. Either being married or having had a common-law partner, or currently or formerly residing with your child as a parent.
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