Canadians struggling with the rising cost of living are getting a welcome financial boost from the Canada Revenue Agency (CRA). The recently announced $680 payment is designed to support low- and moderate-income individuals and families. But who qualifies, how much can you receive, and when will the money arrive in your account?
In this guide, we’ll break down everything you need to know about the $680 CRA payment, including eligibility, payment dates, and how to ensure you receive this benefit.
Payment
The $680 CRA payment is part of the Goods and Services Tax/Harmonized Sales Tax (GST/HST) Credit. This tax-free benefit provides financial assistance to individuals and families with modest incomes, helping them cover everyday expenses.
Here’s a quick overview:
| Key Data | Details |
|---|---|
| Payment Amount | Up to $680 annually for eligible Canadians |
| Eligibility | Low and moderate-income individuals & families |
| Payment Dates | Jan 3, 2025, then quarterly (Apr, Jul, Oct) |
| Application Needed? | No, automatic if taxes are filed |
| Official Source | Canada Revenue Agency (CRA) |
| Maximum GST/HST Credit | $519 (single), $680 (couples) |
Eligibility
To qualify for the GST/HST Credit and receive the $680 CRA payment, you must meet these requirements:
- Residency: You must be a Canadian resident for tax purposes. This includes citizens, permanent residents, and individuals legally residing in Canada for at least 18 months.
- Income Level: The CRA assesses eligibility based on your Adjusted Family Net Income (AFNI). The lower your income, the higher your benefit.
- Age & Family Status: You must be at least 19 years old. If you have children under 19, you may receive additional benefits.
Who Gets the Full $680?
Couples with an adjusted net income below the CRA’s threshold can receive up to $680 annually. Single individuals may get up to $519, with additional payments for dependent children.
Amount
The exact amount you receive depends on your income and family size. Here’s a breakdown:
| Household Type | Maximum GST/HST Credit (Annually) |
|---|---|
| Single Individual | Up to $519 |
| Married/Common-law | Up to $680 |
| Per Child (Under 19) | Additional $179 |
Scenarios
- Name: Sarah
- Income: $25,000
- Benefit: $519 annually
Couple with 2 Kids
- Names: John & Emily
- Income: $50,000 combined
- Benefit: $680 + ($179 × 2) = $1,038 annually
Dates
The $680 CRA payment follows the GST/HST Credit schedule, with payments sent quarterly. Mark these dates:
- January 3, 2025
- April 2025
- July 2025
- October 2025
If you’re eligible, your payments will be deposited directly into your bank account or sent via check.
Apply
Good news—no application is required for the $680 CRA payment! If you file your taxes, you’re automatically assessed for the GST/HST Credit.
However, to ensure you receive your payment:
- File Your Taxes: Even if you have little or no income, file your tax return.
- Set Up CRA My Account: This helps track payments and benefits.
- Ensure Your Information is Updated: Keep your address and banking details current with CRA.
Additional Benefits
If you qualify for the GST/HST Credit, you might also be eligible for other CRA benefits:
Canada Child Benefit (CCB)
Families with children under 18 may receive:
- Up to $7,786 per child under 6
- Up to $6,570 per child aged 6-17
Climate Action Incentive
- Available to residents in provinces with federal carbon pricing
- Amount varies by province but helps offset carbon taxes
These benefits are calculated automatically when you file your tax return.
The CRA $680 payment is an essential support for Canadians dealing with rising expenses. If you qualify, all you need to do is ensure your taxes are filed correctly and on time. With direct deposits arriving every quarter, this tax-free benefit can provide much-needed relief.
FAQs
Who qualifies for the $680 CRA payment?
Low and moderate-income individuals and families who file taxes.
When is the next $680 CRA payment?
The next payment is scheduled for January 3, 2025.
Do I need to apply for the $680 CRA payment?
No, if you file your taxes, you’re automatically considered.
How do I check my CRA payment status?
Log in to your CRA My Account to track payments.
Can newcomers to Canada receive the $680 CRA payment?
Yes, if they meet residency and income requirements.
