That’s because Bill C-30 has been passed, doubling the GST tax credit for 11 million Canadians for half a year. The bill, sponsored by Finance Minister and Deputy Prime Minister Chrystia Freeland, received royal assent last month on October 18. The goal of the legislation is to help low- and moderate-income Canadian families cope with inflation as fears of a recession loom.

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The bill amends the Income Tax Act to double the Goods and Sales Tax/Harmonized Sales Tax (GST/HST) credit for six months. This increases the maximum GST/HST credit amounts by 50 percent for the 2022-2023 benefit year, according to the bill. Story continues below ad “We fully understand that times are difficult for so many Canadians today. That’s why I was very happy to share some great news, and that is that the GST credit will start arriving in the bank accounts and mailboxes of 11 million Canadian households tomorrow,” Freeland said Thursday in the House of Commons during the 2022 launch .autumn financial statement. “This is much needed support. It will provide such valuable inflation relief to Canadians who need it most,” he said. 4:51 Singh says Trudeau government ‘turned its back’ on autumn economic update, but will still vote yes

			Who is eligible for GST credit?

Eligible Canadians already receiving the GST credit will automatically receive the renewal. Story continues below ad Anyone in Canada who is single, married or has a common-law partner and makes more than $65,000 is not eligible for the credit, according to the government. If you make more than $60,000 and are single, married or living together with fewer than three children, you are also ineligible.

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If you’re single, married or civil and make $55,000, you’re also ineligible, unless you have two or more children. The same is true if you are single and making $50,000. The enhanced payment is equivalent to twice the amount of GST credit you would have received over a six-month period. The maximum payment amount depends on whether you are single, married or have a common-law partner and also depends on how many children you have, according to the federal government.

			See how much you can get:

The maximum payment you could receive if you are single: Current trend

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$234 if you don’t have kids $387 if you have a child $467 if you have two children $548 if you have three children $628 if you have four children

The maximum payment you could receive if you are married or have a common-law partner:

$306 if you have no children $387 if you have a child $467 if you have two children $548 if you have three children $628 if you have four children

The government has also created a calculator to determine how much you will receive. 3:53 Poilievre says autumn economic update adds billions in inflationary spending According to an analysis by the Parliamentary Budget Officer, the enhanced GST rebates will cost $2.6 billion. Amin Mawani, associate professor of taxation at York University’s Schulich School of Business, said the bill is an excellent “targeted approach” to help Canadians who need it most. Story continues below ad “I think it’s definitely a good strategy,” he told Global News. “Inflation was highest in food and rent, and low-income earners spend most of their money on those two things.” 1:42 Fall economic statement: Freeland says balanced budget projected through 2027 thanks in part to COVID recovery Compared to the broader relief provided by the Liberal government during the COVID-19 pandemic, “this makes a lot more sense,” according to Mawani. “It’s a good way to catch the right team. Recipients will be able to use this extra credit on those expenses that have shown high rates of inflation,” he said.

			How else does the government deal with inflation?

The bill comes as part of a suite of three new policies proposed by the Liberal government in September to help the country with the rising cost of living. Story continues below ad A new dental care subsidy for people under 12 from low- and moderate-income families and a one-time $500 housing rent subsidy for low-income renters are the other two. In Thursday’s mini-budget presented by Freeland, the $30.6 billion promised in the years before 2027-28 includes money earmarked for those previously announced as part of the Liberals’ deal with the New Democrats. In addition, beginning in 2022-23, Canadian workers who qualified for the Canada Worker’s Benefit in the previous year will be automatically issued advances based on their previous tax returns. Each year, three million of the lowest-paid Canadians are eligible for the refundable Earned Income Tax Credit.

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However, the benefit is usually provided through tax returns, which the government said in its fall economic statement means Canadians “must wait until the end of the tax year to receive the support.” Those eligible will receive a total of “up to” $714 for individual workers and up to a total of $1,231 for families, according to the document. “Any additional entitlement for the year will be provided when they file their tax return for the year,” detailed the autumn financial statement, which noted the word “inflation” more than 100 times. Story continues below ad That move is expected to cost about $4 billion over the next six years. For the current fiscal year, the interim budget update projects a deficit of $36.4 billion, about $16 billion lower than expected in the spring budget, thanks to high inflation and a strong economic recovery that is boosting government revenues . The fiscal update states that federal debt as a share of GDP is 42.3 percent in fiscal 2022-23 and is projected to decline steadily until it reaches 37.3 percent in fiscal 2027-28. — with files from Global News’ Rachel Gilmore & The Canadian Press