People have been hearing a lot about what the government is doing during the pandemic. The spread of COVID-19 in Canada has meant that money needs to be given to businesses and individuals who find themselves affected. Now, some Canadians can see the GST credit they'll be receiving.
Included in the list of benefits, credits and support payments related to COVID-19 is a one-time special payment of the Goods and Services Tax credit.
Individuals will receive amounts close to $400, while couples will get nearly $600. The credit will be made available to low and modest-income Canadians.
You do not have to apply for this credit. If you qualify, you will receive it automatically.
If you have a CRA account, you can log in and check to see whether you will be receiving a GST credit payment in the coming month.
The CRA notes that this credit will double the maximum amounts for payments for the 2019-2020 benefit year.
It also estimates that this credit will help to inject around $5.5 billion into the economy.
The GST credit is just one part of the overall plan, which also includes the Canada Emergency Response Benefit and temporary wage subsidy for employers.
People who have lost work due to COVID-19 and do not qualify for EI can apply to receive $2000 a month for up to four months.
Businesses can also apply to receive a wage subsidy so that they can continue to pay their employees even if they have had to close down.
If you’re a parent, we’re boosting your Canada Child Benefit payment. If you’re worried about making ends meet, we’… https://t.co/uGEBWVbXpE— Justin Trudeau (@Justin Trudeau) 1585246352.0
The CRA previously allowed Canadians to collect uncashed government cheques by compiling them on people's accounts.
People also got a break when it came to student loans. The Government placed a six-month, interest-free pause on all student loan repayments during this time. Students were not required to apply for this.