What is an eft payment

what is an eft payment

(no subject)

(no subject)

date: Apr. 2nd, 2009 10:02 pm (UTC)

I will try that later but thought others here may have gotten this mysterious deposit too. My tax info is mailed to my parents house and they're on vacation so I won't see if its my tax refund until the weekend when I visit. Its was a substantial deposit but also only half of what I should be getting back in taxes too.

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Ontario Sales Tax Transition Benefit

EFT CREDIT POSTED June 10th, 2010

from: anonymous

date: Jun. 11th, 2010 01:58 am (UTC)

In response to those who were trying to figure out where the random EFT Credit Canada payment came from:

"Transition Payments

Replacing the PST will help eliminate the hidden sales tax that many products carry. Few people realize that the PST is charged on various businesses costs throughout the supply chain. Ultimately, this hidden tax is added to the cost

the consumer pays at the cash register. However, there will be a transition period as businesses adjust prices to reflect their cost savings.

Eligible families - including single parents and senior couples - with an annual income below $160,000 will receive three payments totalling $1,000.

Eligible individuals with an annual income below $80,000 will receive three payments totalling $300.

Eligible Ontario tax filers aged 18 and over will receive three tax-free transition payments scheduled for June 10, 2010, December 2010 and June 2011. If you receive your income tax refund through direct deposit, the payment will be made to your bank account. Otherwise, you will receive a cheque in the mail.

To qualify for the two payments scheduled in 2010, you will have to file a 2009 tax return. A 2010 tax return will have to be filed to qualify for the June 2011 payment.

Learn more about the Ontario Sales Tax Transition Benefit"

You can also check out the Government of Ontario site on the Harmonized Sales tax: http://www.rev.gov.on.ca/en/taxchange/fa milies.html

Source: poorinto.livejournal.com

Category: Bank

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