If you’ve recently moved out of your parents’ home, you’ve probably come to realize very quickly just how expensive it can be. There are so many costs to cover, such as groceries, utility bills, mortgage or rent payments, and property taxes, all of which can rapidly drain your bank account and cause financial hardship.
The cost of living is exceptionally high in Ontario, home to some of Canada’s most expensive cities. To help Ontario residents manage the soaring living costs, the provincial government offers the Ontario Trillium Benefit (OTB).
The OTB is a refundable tax credit designed to provide financial relief for low-to-moderate-income Ontarians. It aims to offset some of the living costs homeowners face, such as utility bills and property taxes. The benefit is a combination of the following three credits:
To qualify for the OTB, you need to be eligible to receive at least one of these three credits.
To be eligible for this credit, you must be a resident of Northern Ontario and fall into at least one of the following categories:
Also, you must have paid for either:
Is going green important to you. Check out these green tax credits, rebates and government programs.
To be eligible for this credit, you must fall into at least one of the following categories:
Also, you must have paid for either:
You also qualify if you lived in a post-secondary school residence in the previous year.
Are you and your family eligible for the GST/HST tax credit?
To be eligible for this credit, you must fall into at least one of the following categories:
Does your child or spouse have a disability? Then you should check out the disability tax credit.
The OTB payment period runs from July to June of next year. For example for the tax year 2021, your payments will start from July 2022 to June 2023.
You will receive the OTB monthly payments if your benefit is more than $360, but you also have the option to receive one lump-sum payment at the end of the OTB payment period. If your payment is less than $360, you’ll be paid the entire amount in July.
| Ontario Trillium Benefit (OTB) Payment Dates 2021 | Ontario Trillium Benefit (OTB) Payment Dates 2022 |
| January 8, 2021 | January 10, 2022 |
| February 10, 2021 | February 10, 2022 |
| March 10, 2021 | March 10, 2022 |
| April 9, 2021 | April 8, 2022 |
| May 10, 2021 | May 10, 2022 |
| June 10, 2021 | June 10, 2022 |
| July 9, 2021 | July 8, 2022 |
| August 10, 2021 | August 10, 2022 |
| September 10, 2021 | September 9, 2022 |
| October 8, 2021 | October 7, 2022 |
| November 10, 2021 | November 10, 2022 |
| December 10, 2021 | December 9, 2022 |
Check out the payment dates for the Ontario Disability Support Program (ODSP).
The amount of OTB you receive will depend on your age, income, family size, residence, and how much you pay in rent or property tax. Below is an overview of what you can expect to get based on the three credits that constitute the OTB.
If you’re single, the maximum payment you’re entitled to is $158. If you have a family, the maximum payment is $243.
You could receive a maximum OEPTC payment of:
Are you a student? Check out these student tax credits and deductions.
The maximum OSTC payment you can get is $316. This amount is for every adult and child in your household.
Maximum Ontario Trillium Benefit Payment Amount Annually
| Northern Ontario Energy Credit (NOEC) | $158 – If you’re a single individual $243 – If you have a family |
| Ontario Energy and Property Tax Credit (OEPTC) | $1,095 – if you’re between 18 and 64 years old $1,247 – if you’re over 65 years old $243 – if you live on a reserve or in a long-term care facility $25 – if you’re a student living in a post-secondary school residence |
| Ontario Sales Tax Credit (OSTC) | $316 – For each child and adult in the household |
To qualify for the OTB, you must file your income tax return and benefit return. Beware, if you file late, your OTB payments may be delayed.
Once you’re approved for OTB payments, you must reapply each year when you file your tax return to continue receiving them. You’re not guaranteed the same monthly payments during each OTB period. The CRA will make adjustments to your payments based on changes in your family’s net income, age, place of residence, and other factors.
If you’re an Ontarian, you’re fully aware of how hard it can be to maintain a basic standard of living. Hence, anything that can relieve the financial pressure is helpful. If you’re a low-income earner, applying for the OTB during tax season is a no-brainer, as it will supply you with some extra income with no strings attached.
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Mark is a writer who specializes in writing content for companies in the financial services industry. He has written articles about personal finance, mortgages, and real estate and is passionate about educating people on how to make smart financial decisions. Mark graduated from the Northern Alberta Institute of Technology with a degree in finance and has more than ten years' experience as an accountant. Outside of writing, he enjoys playing poker, going to the gym, composing music, and learning about digital marketing.
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