The Federal government of Canada and CRA had launched various tax credit for all the individuals of Canada who pays tax. The government provides this tax credit to all the assessee who belong to the poor and needy families of Canada. The government has launched this initiative to reduce the tax burden from all the poor and low income individuals who can not afford the tax burden. By providing this tax credit the government wants to save some amount for these individuals so that they can use this amount to improve their living standards. In this article we will discuss all the details about Canada Tax Credit June 2024, GST / HST Tax Credit, Disability tax credit (DTC), Canada Caregiver Credit, Canada Training Credit, and Home Accessibility Tax Credit.
Canada Tax Credit June 2024
Canada Tax Credit will be provided by the federal government of Canada and CRA for the financial year of 2023 – 2024. Canada Tax Credit is a government scheme which allows the individual to subtract the tax credit amount from the total tax payable amount of the financial year of 2023 –2024. In this Canada tax credit the beneficiary will get the rebate under various GST / HST tax credit, Disability tax credit (DTC), Canada caregiver credit, Canada training credit, and Home accessibility tax credit. All the individuals who want to take benefit of this tax credit need to file their return for the financial year 2023 – 2024.
| Type of Article | Canada tax credit |
| Launched by | Federal government of Canada and CRA |
| Year | 2024 |
| Beneficiary | All low and less income individual |
| Motive of tax credit | Reduce tax burden from the individuals |
| Category | Finance |
| Official Website | canada.ca |
Canada GST / HST Tax Credit 2024
All the individuals who belong to the poor and low income families and individuals of Canada state who pay the GST / HST can offset the GST or HST. The beneficiary amount of GST / HST Tax Credit 2024 is tax free. The payment will be paid four times in a year. You don’t need to fill any application form separately to get the benefit of this scheme as all the individuals who file their return will automatically get the benefit of this tax credit if they fulfill the eligibility criteria. To get the benefit of this tax credit, individuals must be older than 19 years. If you are under the age of 19 years you have to fulfill at least one condition given below:
- must have a common law partner or spouse.
- You are a parent and live with their child.
- Must be a permanent Canadian resident in the conditions of CRA
GST / HST Tax Credit Payment Dates 2024
| Payment Date |
| July 5th, 2024 |
| October 5th, 2024 |
| January 5th, 2025 |
| April 5th, 2025 |
Canada Disability Tax Credit (DTC)
The government of Canada and CRA launched this DTC for all the disabled citizens. Through this DTC scheme, the government wants to provide financial support to the family members of disabled persons or disabled persons so that the tax burden will be reduced from them and they get the tax benefit. The Canada Disability Tax Credit Amount 2024 is non refundable. All the individuals who are disabled under the category approved by the CRA for the claim of DTC.
Canada Disability Tax Credit June Payment Date is 29-05-2024.
Canada Caregiver Credit 2024
All the individuals who support their common law partner or spouse who are physically or mentally ill can claim to get the benefit of this tax credit. You can also claim to get the benefit of Canada Caregiver Credit 2024 if you support the person given below who is physically or mentally impaired these individuals can be your child or grandchild or your grandparent, parent, sister, brother. Aunt, uncle or nephew.
- If you are claiming for your spouse or common law partner then the beneficiary amount can be claimed from $2,499 to $7,999.
- If an eligible Dependent is 18 years or older claim amount can be between $2,499 to $7,999.
- If an eligible Dependent who is younger than 18 years can claim the amount can claim for $2,499.
Canada Training Credit 2024
The CTC is a refundable tax credit which you had paid during the year for any course or tuition training. The eligible training cost can be claimed by the beneficiary. All the beneficiary who files their income tax return and benefits return for the year. You must be a resident of Canada, you must be 26 years older but younger then 66 years at the end of the year
Home Accessibility Tax Credit 2024
All the individuals who did the eligible expenses for qualified renovation and for eligible dwelling if they fulfill at least one condition which are applicants must be a qualified individual or you’re an eligible individual and calming on the behalf of an qualified individual. These qualified individuals can be those who are eligible to get the benefit of DTC during the year or the individual who is 65 years or older at the end of the year. Eligible individuals can be a common law partner or a spouse, or a parent, grandparents, sister, brother. Aunt, uncle or nephew, child, niece of a qualifying individual.
FAQs on Canada Tax Credit June 2024
All the individuals who fulfil the eligibility criteria will get the Canada Tax Credit June 2024.
GST / HST tax credit, Disability tax credit (DTC), Canada caregiver credit, Canada training credit, and Home accessibility tax credit are the Tax Credit benefits under Canada Tax Credit June 2024.
Giorgio Smith, a Texan native, is a seasoned senior editor at tnpscexams.net. He has done Master of Business Administration in Finance. he boasts over 9 years of experience in finance. Giorgio expertise is in finance, insurance, and money-related content.