What is the Ontario Trillium Benefit?
The Ontario Trillium Benefit (OTB) is a combined tax credit of 3 different payments:
- Ontario sales credit
- Ontario energy and property tax credit
- The Northern Ontario energy credit
This refundable tax credit is to help low-income households that is given by the province of Ontario. The Ontario Trillium Benefit is usually paid out every month for the year. Your payments that you received are based on your last tax return. So for the 2019 year your amounts will be based on your income for 2019.
When do I get paid the Ontario Trillium Benefit?
You can choose whether or not if you want to be paid monthly or annually. If you choose annually then you will receive a lump sum payment for the year. If you choose to be paid monthly, then your payment will be issued on the 10th of each month. When you are signed up for direct deposit then you will receive this payment within a couple of days. Are you looking for help in regards to setting up direct deposit, please contact us.
Also please note that if your payment amount is less than $360, you will be opted to be paid annually. This payment will come naturally in July of the year you are filing your return. For more information see the CRA website.
How do I sign up for the Ontario Trillium Benefit?
You may choose the tax credit when you file your tax return. Even if you do not have income make sure to opt for this tax credit. If you are filing with us, we will make sure that this tax credit is selected for you.
On your tax return we will complete your ON-BEN (Application for Ontario Trillium Benefit and the Ontario Senior Homeowners Property Tax Grant). We will fill this out on your behalf and send this along with your tax return. You may have forgotten to apply for this credit on your own, you may send in an adjustment of your tax return.
I need to apply for the Ontario Senior Homeowners Property Tax Credit.
If you are looking for more information on this credit please click the link here to see more details on this subject. Filing with Accufile we will make sure all your bases are covered and that you are able to apply for this tax credit.
Do I qualify for the Ontario Sales Tax Credit?
This tax credit assists low to medium income families that have paid GST / HST for goods and services during the tax year. You can receive up to $291 per household member and is based on your income from the tax year you are filing.
Do I qualify for the Ontario energy and property tax credit?
This tax credit is made to help lower income families with property taxes and GST / HST that was paid on energy. To qualify you must have paid rent or property tax for your principal residence in Ontario. Or you have paid living expenses in a nursing home, paid energy costs while living on a reserve, or have lived in a designed post secondary school residence. This must have been paid in Ontario and the same year that you are filing taxes for.
Do I qualify for The Northern Ontario energy credit?
The tax credit as well is made to help lower to middle income families that have an increase of energy due to living up north on a reserve. To be eligible you must have paid property tax or rent in your principal residence. Or you have paid living expenses in a nursing home, or paid energy costs while living on a Northern Ontario Reserve.