New Ontario Trillium Benefit Payment Coming On November 8

The Ontario Trillium Benefit (OTB) is a significant tax credit program supporting low- to moderate-income Ontario residents facing financial strain due to rising living costs.

What is the Ontario Trillium Benefit?

Administered by the Canada Revenue Agency (CRA), the OTB provides relief by combining three credits:

1. Ontario Energy and Property Tax Credit (OEPTC) – Helps offset property taxes and energy costs.
2. Northern Ontario Energy Credit (NOEC) – Assists Northern Ontario residents with high energy costs.
3. Ontario Sales Tax Credit (OSTC) – Offers relief from the Ontario portion of the Harmonized Sales Tax (HST).

Together, these credits are designed to ease the financial burden on qualified households, with payments determined by income information from residents’ annual tax returns. In 2024, OTB payments were increased, with eligible recipients now receiving monthly support. Upcoming OTB payments are scheduled for November 8, 2024, and December 10, 2024, for those qualifying beyond the one-time lump sum of $360 issued in July.

Who is Eligible for the Ontario Trillium Benefit?

To qualify for the OTB in 2024, applicants must:

• Be an Ontario resident as of December 31, 2023.
• Have filed a 2023 tax return, even if they had no income.
• Hold a valid Social Insurance Number (SIN).

Eligibility requirements also vary slightly for each benefit component:

• Ontario Sales Tax Credit (OSTC) – Available to residents aged 19 or older, parents residing with children, or individuals in common-law/marital relationships.
• Ontario Energy and Property Tax Credit (OEPTC) – For Ontario residents who paid property tax or rent in 2023 or resided in a long-term care facility.
• Northern Ontario Energy Credit (NOEC) – For Northern Ontario residents aged 18 or older who meet the criteria regarding residence and energy-related expenses.

Temporary residents who meet these eligibility criteria and file annual tax returns may also qualify.

How Much Can Residents Receive?

The Ontario Trillium Benefit provides a total payment based on the maximum annual amounts allowed for each credit:

1. Northern Ontario Energy Credit (NOEC):
   • Up to $180 for single residents
   • Up to $277 for families
2. Ontario Energy and Property Tax Credit (OEPTC):
   • Up to $1,248 for individuals aged 18-64
   • Up to $1,421 for seniors 65 and older
   • Up to $277 for residents in long-term care or on reserves
3. Ontario Sales Tax Credit (OSTC):
   • Up to $360 per adult or child in the household

The exact amount a household receives depends on factors such as income, household size, and geographic location.

Steps to Maximize Your Ontario Trillium Benefit

To ensure timely and full OTB payments, residents should file their annual tax returns and confirm their direct deposit information through their CRA My Account. Records of property tax, rent, and energy expenses should be kept for potential verification by the CRA.

As inflation continues to impact everyday costs, the OTB provides vital support to help Ontario residents manage expenses, including property taxes, energy costs, and sales tax relief. With the upcoming payment on November 8, low- and moderate-income households can expect financial relief. For further assistance or clarification, consult the CRA’s website or speak with a tax professional to ensure you’re receiving your full Ontario Trillium Benefit.