Check your bank account right now. Seriously.

If you filed your 2024 tax return and received the GST/HST credit in January 2026, there is a very good chance the Canada Revenue Agency has already deposited money into your account today — June 5, 2026. It is official, it is from the CRA, and it is part of a brand-new federal benefit that permanently replaces your old GST/HST credit.

But alongside this welcome news is a deadline quietly creeping up on tens of thousands of self-employed Canadians. Your CRA tax filing deadline is June 16 — that is just 11 days away. There is a trap hidden in that date that trips up Canadians every single year.

The Canada Groceries and Essentials Benefit: What Is This, Exactly?

The Canada Groceries and Essentials Benefit (CGEB) is the federal government's permanent replacement for the GST/HST credit. The CGEB is designed to give low- and modest-income Canadians more support to cover rising food and essential costs — which have increased faster than overall inflation every year since 2020.

Today, as a bridge payment before the CGEB officially launches in July, the CRA is issuing a one-time top-up to everyone who was entitled to the GST/HST credit in January 2026. Here is how much you can expect:

• Family of four (net income around $40,000): up to $533
• Single person (net income around $25,000): up to $267
• Married couple, no children (net income around $35,000): up to $342

The top-up equals 50% of your annual GST/HST credit for the 2025-26 benefit year. If your annual credit was $400, you would receive an extra $200 today.

When the deposit appears in your bank account, it may still be labelled GST/HST Credit or GST/HST RC150. That is completely normal — the CGEB branding does not fully take effect until July. Do not call your bank and do not assume it is an error.

If you did not receive a payment and think you should have, the most common reasons are: you did not file your 2024 tax return, you were not entitled to the GST credit in January 2026, your spouse received the payment on behalf of your household, or the payment was applied to an outstanding CRA balance. Check CRA My Account to confirm your status.

What Comes Next: The July 3 Launch and 25% Quarterly Increase

Today's one-time payment is just the warm-up act. Starting July 3, 2026, your quarterly CGEB payments begin — and they are getting a permanent 25% boost for the next five years.

For a family of four, the combined value of today's top-up plus the increased quarterly payments could mean up to $1,890 in 2026. For a single adult, up to $950. That is a meaningful jump from the old GST/HST credit amounts.

Important: the July 3 quarterly payment will be calculated based on your 2025 tax return. If you are self-employed and have not filed yet, that is one more reason to get moving — no return on file means potentially missing out on your full entitlement.

Self-Employed Canadians: Your Deadline Is June 16 — But Read This Carefully

If you are self-employed — freelancer, contractor, sole proprietor, incorporated one-person shop — your CRA tax filing deadline is Monday, June 16, 2026. June 15 falls on a Sunday this year, so it bumps to the next business day.

Here is the part nobody tells you loudly enough: that deadline is for filing your return. Not for paying your taxes.

Your tax payment was due April 30, 2026. If you owe money and have not paid it yet, the CRA has been charging you 7% compound daily interest since May 1. Every single day. Daily, compounding on itself.

Missing the June 16 filing deadline on top of that adds a late-filing penalty:

• 5% of the balance you owe, plus
• 1% for each full month your return is late (up to 12 months)

If the CRA penalised you in any of the previous three tax years, the penalty doubles: 10% of balance owing, plus 2% per month for up to 20 months.

The good news? File by June 16, even if you cannot pay the full amount right now. You can set up a payment arrangement directly through CRA My Account — no phone call needed. Interest will continue to accrue, but you will avoid that additional late-filing penalty stacking on top of what you already owe.

Scam Alert: Stay Sharp During Benefit Payment Week

Every time the CRA issues a major benefit payment, scammers follow. This week is prime season for phishing texts, robocalls, and emails claiming you need to verify your banking details to receive your CGEB deposit.

The CRA will never text or call you asking for your banking information, ask for your Social Insurance Number over the phone to release a payment, or send a message saying your deposit is on hold pending verification.

If you receive a call or text like this — hang up immediately and report it to the Canadian Anti-Fraud Centre at 1-888-495-8501 or antifraudcentre.ca.

The federal government has also warned Canadians that rumours of a $2,000 direct deposit circulating online are completely false. There is no such payment. Always verify benefit information at canada.ca or through your CRA My Account.

Your June 5 Action Checklist

1. Check your bank account — look for a GST/HST Credit or CGEB deposit from the CRA
2. Log into CRA My Account — confirm your benefit status and make sure your direct deposit information is current
3. Self-employed? Verify you have filed your 2025 T1 return. Deadline is June 16
4. Owe taxes from April 30? Make a payment now, or use the Manage Balance service in My Account to set up an arrangement
5. Got a suspicious call or text? Hang up, delete, report. Do not engage.

Not Sure Where You Stand With the CRA?

Tax rules in Canada move fast, and when you are running a business, managing payroll, or navigating Canadian taxes as a newcomer, it can feel overwhelming. If you are not confident that your CRA obligations are fully in order — or if you are unsure what you might be missing — the Stiplify Books team is here to help.

We work with small business owners, self-employed professionals, and newcomers across Canada to keep their books clean, their taxes filed on time, and their hard-earned money working for them.

Book a free consultation at stiplifybooks.ca — no pressure, no jargon, just clear answers from people who know Canadian tax inside and out.

Information in this article is based on official CRA announcements and canada.ca as of June 5, 2026. Always consult a qualified tax professional for advice specific to your situation.