HST credits to be distributed in October05 October 2016
FREDERICTON (GNB) – The provincial government reminds eligible New Brunswickers they will receive their first provincial HST credit payment this month.
“We chose to protect education and health care and to create a new tax credit which will provide cash payments to families to help them deal with the rising cost of living,” said Finance Minister Cathy Rogers.
Eligible recipients will get credits for the period of July through December in a single payment in October. Payments will return to a quarterly basis beginning in January 2017.
The Canada Revenue Agency will distribute the credit on behalf of the provincial government by adding it to the federal GST/HST credit payments. The credit will be paid on a quarterly basis either by direct deposit or cheque. In cases where the quarterly payment is less than $50, a single payment for the total annual amount will be made in October 2016. For subsequent years, those receiving the annual payment will receive it in July.
The full HST credit will be provided to those with an income of less than $35,000 per year. In addition, a person with an income of less than $50,000, or a family of two adults and two children with a combined income of less than $75,000, could receive a payment.
More information on the new provincial HST credit is available online.