bigger-gst-credit-payments-to-hit-canadians-bank-accounts-soon

GST credit payments to hit Canadians bank accounts soon

ByNational Trending Staff

Some Canadians can expect to receive an increase in GST credit payments from the federal government soon. The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment, but this time it will include a 2.7 per cent increase. According to the government, the credit payment aims to help families with low and modest incomes offset the taxes they pay. If you’re eligible, you’ll see the new amount in your bank account on Friday, July 4. Who’s eligible for the payment? The government says you’re generally eligible for the payment if you’re at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment and at the beginning of the month. If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period: You have (or had) a spouse or common-law partner You are (or were) a parent and live (or lived) with your child Parents in a shared custody situation may be eligible for half of the credit for that child, according to the government. Your eligibility depends on your family’s net income. How much will you get from the GST Credit? Based on the 2.7 per cent increase, you could get up to: $533 if you are single $698 if you are married or have a common-law partner $183 for each child under the age of 19 In most cases, you don’t need to apply for the credit because you’re automatically considered for it when you file your taxes. In 2022, Ottawa doubled the GST credit for six months during the height of inflation. There are other ways you might get more money from the government this month. From the Canada Child Benefit to the Canada Pension Plan, check out the full list here. After the July 4 payments, the next and final payment for the year is on October 3.

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Canadians will see some new laws and rules kick in next month

ByNational Trending Staff

Several new laws and regulations will be implemented in Canada next month. From a bill that protects shoppers from deceptive marketing practices to expanded dental care, these changes could affect workers, consumers and low-income Canadians. Here are the new laws and rules you can expect in Canada in June 2025. Canadian Dental Care Plan expansion and renewal Jacob Lund/Shutterstock The Canadian Dental Care Plan (CDCP) now accepts applications from eligible people aged 18 to 34. On May 29, the program will expand to include those aged 35 to 54. The program was implemented in 2023 to decrease dental costs for Canadians earning less than $90,000 annually. If you’re already part of the dental care program, don’t forget to renew for the 2025 to 2026 period before June 1 to avoid a possible gap in coverage. To do this, you must have filed your 2024 tax return and received the notice of assessment from the Canada Revenue Agency. Check to see if you qualify for the CDCP. “Anti-scab” law In May last year, the federal government passed Bill C-58, a law that aims to protect unionized workers during strikes or lockouts. Under the legislation, which will take effect on June 20, federal employers won’t be able to use replacement workers, AKA “scabs,” to do the jobs of unionized employees during legal strikes or lockouts. This is an offence punishable by a fine of up to $100,000 per day. The exceptions to this law include needing to use a replacement worker to prevent threats to life, health or safety of the public and prevent serious damage or destruction to their property. However, employers need to offer the opportunity to bargaining unit members first. Law holding businesses more accountable for greenwashing Bill C-59, which kicked in on June 20, 2024, also brought important changes to the Competition Act, specifically when it comes to greenwashing, or misleading consumers about a business’s environmental impacts. According to Canadian law firm BLG, the changes to legislation won’t only make it easier for the Commissioner of Competition to hold companies accountable, but also for private parties like environmental activists and climate advocacy groups. Starting June 20 this year, these groups can bring action against companies for deceptive greenwashing marketing practices before the Competition Tribunal if they can show “public interest.”