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December 9, 1997
(Finance)


Harmonized Sales Tax Credit payments to be issued December 10

The Department of Finance would like to advise that payments under the Harmonized Sales Tax Credit program will be issued to qualifying individuals tomorrow, December 10. The credit will directly benefit those who need it most.

In the 1997 Budget, government announced a new low income HST credit for qualifying Newfoundlanders and Labradorians. The HST credit is $40 per adult and $60 per child for families with a net income of less than $15,000. In total, the program will result in a payment of $7.5 million to low income families. The provincial credit will be phased out at a rate of five per cent of annual net family income in excess of $15,000. The income test is based upon information contained in the previous year's income tax returns.

The HST credit is being administered by Revenue Canada on behalf of the Government of Newfoundland and Labrador. Individuals who are set up on the direct-deposit system through Revenue Canada will electronically receive their credit on December 10, while others will receive their cheques upon delivery from Canada Post.

Contact: Karen McCarthy, Director of Communications, (709) 729-0110.

1997 12 09 3:10 p.m.

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