REGINA — Oct. 5 is the day when GST credit payments are made by the federal government, but don’t expect the much talked about double payments hitting your bank account.
That is because the proposed measure is not yet in effect. The proposal to double the amount of the GST credit for six months has not yet passed in parliament, however it is expected to come to a final house vote on Thursday and then go to the senate.
According to the government of Canada website, “if the additional payment is approved, it will be issued outside of the regular 2022 GST credit quarterly payment schedule. More information, including timing, will follow in the coming weeks.”
Reports are the additional payments will likely not happen for another three or four weeks.
According to the government’s website, 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 and for single parents; plus $161 for each child under the age of 19 under the GST credit.
The doubling of the GST credit is one of the affordability measures being put in place by the federal government to deal with rising inflation.
The provincial government is also bringing in affordability measures and is set to send out cheques for $500 to individuals 18 and over. The government has previously indicated those will be sent out in November. More details are expected on when those cheques will be sent out.