Just In Time For The Holidays – HST Cheques

by Guest on December 9, 2010

Ontario residents can expect the second installment of the HST transitional benefit within days. Starting Friday, December 10th the Ontario government will begin to distribute the second installment of the HST transitional benefit.  The HST Transitional Benefit is a short term series of payments meant to offset the cost of the Harmonized Sales Tax that was introduced on July 1st.

Single people earning less than $80,000 per year receive $100. Families and couples earning less than $160,000 will receive $335.  Ontarians earning more than the thresholds will have their benefits clawed back accordingly.  In June, a survey by HarrisDecima showed more than 80 per cent of Ontarians didn’t expect to receive the HST benefit.

“This time the HST Benefit should be less of a surprise,” says Cleo Hamel, a Senior Tax Analyst from the Tax Advisory at H&R Block.  “Last time, many Ontarians assumed they made too much money to qualify.

“The important thing to remember is you need to file a 2009 tax return in order to receive this benefit. If you don’t file your 2009 tax return by April 30, 2011, you lose the first two payments so claim it. You are entitled to the benefit.”

The third and final installment of the HST Transitional Benefit will be paid in June 2011 and will be based on your 2010 tax return.

The Canadian poll was conducted online by HarrisDecima, from May 27 to May 30, 2010 and surveyed 325, randomly selected adult Ontario residents. The margin of error for the total sample is +/-X per cent, 19 times out of 20.

 

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