Canadians in Millions will have to get GST from the Federal Government of Canada on Friday:
Low to average-income Canadians received hundreds of dollars from the Canadian Federal Government, which will help them to cope with inflation in times of recession
After the Passing of Bill C-30, 11 million Canadians will receive a doubled amount of GST Credit for 6 months.
The bill was sponsored by the Canadian Deputy Prime Minister and Minister of Finance.
The passing of legislation alters the income tax order to increase the GST and HST twice for 6 months. It also increases GST and HST by 50% for 6 months from now on.
Canadian Deputy Prime Minister Freeland said while presenting the economic statement for 2022, that the GST
Credit will be sent to 11 million Canadians’ bank accounts and it will be a source of relief for Canadians who are struggling with inflation.
Canadians who are eligible for GST credit will automatically receive the amount in their bank accounts.
People who earn an annual income of more than 60000$ if they are single or married, having children less than 3 are ineligible for GST credit.
Single who earn 55000$ annually are also not eligible.
The payment amount depends upon your status, whether you are single, married, or having children.
According to professor Amin Mawani, the inflation rose in food and rent and low-income earners spend money on these two things.
People who live on rent with low incomes will also receive 500$ one time and those under 12 aged ones will receive dental care who belongs from low-income families.
A single person will receive $714 and families will receive $1,231.