You’ll see extra cash in your bank account soon if you are among the Canadians eligible for the GST credit payment the federal government is issuing out.
Some single Canadians could notice nearly $500 deposited into their bank accounts (or issued as a cheque) Friday, July 5.
The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment. You don’t need to apply for the credit because you’re automatically considered for it when you file your taxes.
According to the government, you could get up to:
- $496 if you are single
- $650 if you are married or have a common-law partner
- $171 for each child under the age of 19
The government said this payment aims to help families with low and modest incomes offset the taxes that they pay.
This means you might be able to buy some Vancouver-specific luxury items with that cash, so we thought we’d help by rounding up what we are spending our credit on as a single person.
A portion of our rent
alice-photo/Shutterstock
A credit of $496 is sure to help when it comes to paying rent in Canada’s priciest city. According to the latest figures on the average one-bedroom rent prices in Vancouver, which suggest it costs about $2,730 right now, we can cover nearly five days of rent. Considering the high cost of rent in the city, we will take all the help we can get – even the slightest dent is welcome.
Fly to Mexico
David J. Mitchell/Shutterstock
With the extra cash, you could plan a last-minute summer trip. For a total of $455.44, you could fly to Puerto Vallarta, Mexico. We found the deal with WestJet. It is an UltraBasic flight (the lowest-priced option) and does not offer a carry-on bag.
We do think a flight under $500 would still be quite a deal if you can make it work. We suggest using Google Flights or Skyscanner to find the best date combination for your trip.
Keep cool with an air conditioner
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If you don’t have one already, a portable air conditioner can feel like a life saver. So, before the real summer heat kicks in, we suggest getting your hands on one. With just a quick search online, we found plenty of units that are sold under $500.
FVDED in the Park
FVDED in the Park/Live Nation
FVDED in the Park 2024 is shaping up to be one of the biggest events in its history and it’s not one that dance music fans will want to miss out on this summer. The music festival is back in Surrey on Friday, July 5 and Saturday, July 6, at Holland Park, so the GST payment is coming just on time for folks who want to grab a last-minute ticket. You could get yourself a two-day VIP Pass for $474.95 or a two-day general admission pass for $338.59.
This year’s Friday night headliner is supergroup Swedish House Mafia, while Saturday night will be headlined by the dynamic duo of Kx5 aka Kaskade and Deadmau5.
Eat like a celebrity
Michael Bublé/Instagram
With some of the world’s best cuisine in Vancouver, it would be nice to treat yourself to fancy dining that’ll make you feel like a million bucks or like you wish you had a million bucks. A popular spot for many celebrities over the years to enjoy their bountiful seafood options and exquisite high-end cocktail selections has been Blue Water Cafe. With nearly $500 in your wallet, you can buy yourself a pretty lavish spread. They offer a stunning seafood tower that’ll cost you $110 for the table. With the remaining cash, you would still have enough to try plenty off the menu.
What are you doing with your GST credit payment? Let us know in the comments!