If you qualify for the Ontario Trillium Benefit (OTB) — a refundable tax credit to assist families in paying for energy costs, sales tax and property tax — mark your calendar for Dec. 10 as payments are being issued. However, the Canada Post strike will impact your benefit payment if you still receive a cheque by mail.
“The Ontario Trillium Benefit cheques issued by mail are being held until the Canada Post strike is resolved,” the Canada Revenue Agency said in an emailed statement. “Individuals are encouraged to sign up for direct deposit to avoid delays.” The payment combines three tax credits into one single payment: The or OEPTC The The The amount you get paid for the OTB typically varies depending on your 2023 income tax and benefit return.
If you’re single, you could receive a maximum of $180. Families could receive a maximum of $277. Northern Ontarians, including those living in Parry Sound and Nipissing, may also get more money through the Ontario Energy and Property Tax Credit.
To get an estimate of your OTB entitlement, you can use the . To be eligible, you must have paid property tax or rent for your principal residence in Ontario in the prior tax year, paid living expenses for a nursing home, paid energy costs while living on an Ontario reserve, or have lived in a designed post-secondary school residence in the prior year. You need to apply for the Trillium benefits every tax year.
Your eligibility is based on your family’s net income from the previous tax year, which may change due to differences in your family net income, your place of residence, your age or your family status. You must file a 2023 income tax and benefit return, including applicable sections of an form. The Canada Revenue Agency will use the information from your return to determine your eligibility and entitlement.
In cases of families, the OSTC component of the OTB is paid to the person whose return is assessed first. If your benefit is more than $360, you may choose whether you want to be paid monthly or annually. When you are paid monthly, you receive your payment earlier, but when you are paid annually, you are paid one lump sum at the end of the benefit year.
If your benefit is $360 or less, you do not have the option of being paid monthly; you are paid annually in July. You can call the Province of Ontario at ( ) for more information..
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Ontario Trillium Benefit comes out today, unless you get your money by mail: Here's how much you can expect and how the Canada post strike could impact your payment
Tax benefit paid to eligible households in the province to help them with their energy costs, as well as sales and property taxes.