You might be in for a nice surprise early next month.
A pair of federal payments will be deposited into the bank accounts of thousands of Canadians on July 5.
That is due to both the GST/HST payments, and the federal grocery rebate expected to coincide with each other on the same day.
Here is what you need to know about each payment.
GST/HST credit:
The GST/HST credit is described as a tax-free payment that is provided to people and families with low or modest incomes four times a year to help offset the amount they pay in GST or HST.
People who make less than $50,000 a year will receive some type of payment through this credit with those with children receiving more than those with none.
The amount you receive will be determined by your 2022 tax return.
Take a look at the payment chart here.
Grocery Rebate:
The federal grocery rebate was included in the 2023 federal budget and will be providing a one-time payment to those who also qualified to receive the GST/HST credit for the month of January.
This strange qualification is due to the grocery rebate being based on your 2021 tax return as opposed to your 2022 tax return. Because of this, some people may be eligible for the grocery benefit but not the GST/HST credit.
The payment you receive will be double the amount of your January GST./HST credit with single people with no children getting a maximum of $234 and families with two children getting a maximum of $467.
Click here for a full look at the payment chart for this rebate.
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Both of these payments do not require any sort of application and should be automatically deposited into the bank accounts of eligible recipients. However, if there does seem to be a problem, you can contact the Canada Revenue Agency through its website.