what is the maximum income to qualify for gst

10 months ago 28
Nature

The maximum income to qualify for the Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit in Canada varies based on the individuals family structure and net income. For a single person, the income threshold is $52,255, while for a single parent with one child, the threshold is $58,755. The credit is designed to provide financial assistance to Canadian residents with low or modest incomes, and the amount received depends on the net family income, marital status, and the number of children. The maximum credit for a single person is $496, and for a married couple, it is $650, with an additional $171 for each child under the age of 19. To be eligible for the GST/HST credit, individuals must be Canadian residents for income tax purposes and meet certain criteria, such as age and family structure.