The Ontario Trillium Benefit Payment Dates 2024 is a financial assistance program that blends three essential financial support programs into one payment. These support programs comprise those for the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.
It is believed that OTB payments are usually paid in 12 monthly installments and are scheduled on the 10th day of each month beginning July 2024. If the payment date is a national holiday or an unplanned weekend, the payment is processed the prior business day. This policy applies to all three credit cards.
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Ontario Energy and Property Tax Credit (OEPTC)
The Ontario Energy and Property Tax Credit (OEPTC) is intended to aid Ontario residents with modest to low incomes by reducing taxes on energy sales and property taxes. The OEPTC comprises two parts which are energy-related and the other to pay property tax. To be eligible for the credit you must be an Ontario resident for at least one year. Ontario on December 31 2023 or earlier, and you must meet the minimum eligibility requirements.
- Rent or property taxes paid for your primary residence in Ontario in 2023;
- Accommodation costs that are covered in a non-profit or public long-term care residence in Ontario until 2023;
- Paid for home energy (like electric heating) for your main residence in the reserve located in Ontario by 2023.
- In Ontario’s designated university, college, or private school residence until 2023.
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Benefit Amount
If you have chosen to opt for the 2023 return option to receive the 2024 OTB entitlement in full and exceeds $360 and is paid in a single lump sum at the close of your benefit year, which is the 10th of June in 2025. If you have your 2024 OTB entitlement lower than $360 the benefit is paid in one lump sum at the beginning of the installment month, usually in July.
Additional Note
If you were 64 years old or over as of Dec. 31, 2023. You lived in your primary residence in Ontario and you had paid property taxes on the property in 2023. In this scenario, you may also qualify in 2024 for the Ontario Senior Homeowners property tax grant.
Understanding OTB Payments
The benefit comprises the Ontario sales tax credit, the Northern Ontario energy credit, and the Ontario energy and property tax credit. To qualify for this benefit, you must complete and submit the ON-BEN application form along with your tax return.
Northern Ontario Energy Credit (NOEC)
The Northern Ontario Energy Credit (NOEC) is a program that was created to assist the residents of Northern Ontario cover their higher cost of energy. The program grants financial aid in recognition of the region’s higher cost of energy.
To be eligible for the NOEC You must have paid one or more admissible expenses within Northern Ontario by December 31, 2023.
- Taxes on property or rent paid for your main home within Northern Ontario for 2023.
- Costs of accommodation and living in a non-profit or a public long-term care facility located in Northern Ontario for 2023.
- Paid for energy bills at home (such as heating or electricity) for your primary home located on a Northern Ontario reserve for 2023.
Ontario Trillium Benefit Amount
If you have chosen to make the 2023 return option to receive the 2024 OTB entitlement in one payment, and your entitlement exceeds $360 the entitlement will be paid in full on the 10th of June or 2025. If your OTB right for the year 2024 exceeds lower than $360 then you will receive it in one lump-sum payment during the month that you receive your first payment usually July.
How to Apply for NOEC?
The NOEC is claimed through the income tax as well as the benefit report for the prior year. For example, to be eligible for NOEC for 2024, make use of your income tax for 2023 and benefit tax return, filling out the ON-BEN form that includes the Ontario Trillium Benefit and the Ontario Senior Homeowners’ Property Tax Grant application.
Ontario Sales Tax Credit (OSTC)
OSTC OSTC can be a tax-free, non-refundable payment that is designed to help offset taxes on sales for those with people with low to moderate incomes. Ontario residents.
OTB Payment Dates Overview
| Article Title | OTB Payment Dates 2024 |
|---|---|
| Country | Canada |
| Scheme Name | Ontario Trillium Benefit |
| Next Upcoming OTB Payment Date | January 10, 2024 |
| Payment Amount | Depends on your status |
| More Information | Find Here |
Eligibility and Payment Amount
From July 2024 until June 2025 which is based on the tax return for 2023 The Ontario Sales Tax Credit (OSTC) allows a maximum of $360 for each person. Single parents will see a 4% cut in credits for incomes adjusted to above $27,729; whereas individuals with only one parent or who are in partnership receive a percent cut for incomes of families greater than $34,661. These credits are part of the Ontario Trillium Benefit (OTB) which is issued monthly beginning July 2024.
In the previous cycle, from July 2023 to June 2024, which was based on the return of 2022 the maximum credit allowed was $345 for each person. The thresholds for reduction were determined at $26,535 for singles with no children, and $33,169 for families, in line with the reduction of 4.
Upcoming OTB Payment Dates 2024
Your eligibility for the Ontario Trillium Benefit (OTB) each year is determined based on your previous year’s income tax and benefit return. The Canada Revenue Agency (CRA) typically issues the OTB in twelve installments on the tenth day of each month.
In 2024, OTB payments are scheduled for the tenth of every month. If the tenth falls on a weekend or a public holiday, the payment is issued on the last working day before the tenth.
Refer to the table below for the detailed OTB payment schedule for 2024.
| Month | OTB Payment Dates 2024 |
|---|---|
| January | 10th Jan |
| February | 9th Feb |
| March | 8th March |
| April | 10th April |
| May | 10th May |
| June | 10th June |
| July | 10th July |
| August | 9th Aug |
| September | 10th Sept |
| October | 10th Oct |
| November | 8th Nov |
| December | 10th Dec |
How to Apply for OTB?
To be eligible for an application for the Ontario Trillium Benefit (OTB) You don’t have to fill out an additional application if you already have the annual taxes on income return and benefit returns. Here’s how to apply:
- Be sure to complete your tax return on income for the prior year to ensure that the CRA relies on the information in your tax return in determining your eligibility to OTB. OTB as well as the tax amount you’re eligible to receive.
- In filing your taxes, fill in the ON-BEN application form, especially for the Ontario Trillium Benefit as well as The Ontario Senior Homeowners Home Tax Credit.
- Check that all the information you fill in when filing your taxes as well as the ON-BEN form is correct.
- Make sure you file your tax return before the deadline, usually the 30th day of April every year, to delay the assessment and the payment for your OTB.
FAQs
What happens if file my tax return after the deadline of April 30?
Filing tax returns after April 30 could result in a delay when it comes to receiving your Ontario Trillium Benefit payment.
When do I expect to receive my Ontario Trillium Benefit payments?
Ontario Trillium Benefit payments are scheduled for the 10th of every month, or the final working day before the tenth if it occurs on an unplanned holiday or weekend.
How can I begin to seek an Ontario Trillium Benefit?
For those who wish to apply in Ontario Trillium Benefit Ontario Trillium Benefit people must complete AND submit an ON-BEN application form along with their income tax returns.