As usual, the new Ontario Trillium Benefit (OTB) monthly payment will be sent to all Ontarian tax payers on October 10, 2023.
The OTB is one of the significant benefits that Ontarians are entitled to and we publish articles on all the tax credits that our immigrant community in Canada as well as Canada aspirants must know.
This post will explain the OTB, explain how it operates, and discuss how it affects the lives of those who live in Ontario.
What is Ontario Trillium Benefit (OTB)
The OTB is a payment that combines the Ontario Energy and Property Tax Credits (OEPTC), the Northern Ontario Energy Credit (NOEC), and the Ontario Sales Tax Credit (OSTC).
The Ontario government offers low- and moderate-income individuals and families the OTB, which is a mix of the above-mentioned three tax credits.
The annual OTB entitlement is typically divided by 12 and payments are made on the 10th of every month.
How is OTB operated?
OTB is directly operated in conjunction with the federal Canada Revenue Agency (CRA). Individuals and families must file their income tax returns annually in order to be eligible for the benefit.
A person’s or a household’s OTB depends on a number of factors, including their income, the size of their family, and where they live.
After calculating the benefit amount using this data, the government pays out the money each month, often beginning in July.
Who qualifies for the Ontario Trillium Benefit?
The main factors determining eligibility for the OTB are family size and income. To be eligible, you have to:
1. Be an Ontario resident.
2. Submit your tax return for income.
3. Possess an active Social Security number (SIN).
Eligibility requirements are modified to guarantee that individuals and families with low to moderate incomes receive the necessary support, as the purpose of the benefit is to aid them.
Elibility is further divided based on the type of credit added to your Ontario Trillium Benefit, as listed below:
Ontario Sales Tax Credit Eligibility
This credit is a tax-free payment designed to assist Ontarians with their sales tax obligations.
To qualify, you must be an Ontario resident and one of the following at some point before June 1, 2024:
- You are 19 years of age or older
- a parent who resides or has previously lived with your child
- presently or has previously been married or in a common-law relationship
Ontario Energy and Property Tax Credit Eligibility
To be eligible, you must be a resident of Ontario on December 31, 2022, and at least one of the following by June 1, 2024:
- 18 years old or older,
- presently or formerly married or in a common-law relationship,
- a parent who resides or has previously lived with your kid,
and at least one of the following is applicable to you in 2022:
You are an Ontario who
- paid property tax on your primary residence
- rented, and your landlord was required to pay property tax for your main residence (if you lived in a subsidized housing unit, check with your landlord to find out if they were required to pay property tax for your unit)
- lived on a reserve and paid for your home energy costs
- lived in a public long-term care home (for example, a seniors’ home) and paid an amount for your accommodation
Northern Ontario Energy Credit Eligibility
This credit is a tax-free payment designed to assist Northern Ontarians residing in Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury, Thunder Bay, and Timiskaming with their higher home energy expenditures.
To be eligible, you must be a resident of Northern Ontario in one of the areas listed above on December 31, 2022, and be at least one of the following by June 1, 2024:
- 18 years of age or older,
- have or had a spouse or common-law partner
- a parent who resides or previously lived with your child, and in 2022,
- rented or paid your primary residence’s property tax
- lived on a reservation and was responsible for your home’s energy expenditures
- resided in a public long-term care facility (for example, a seniors’ home) and paid a percentage of your living expenses
How much Ontario Trillium Benefit can you get?
Here is the maximum OTB payment that you can get annually if you fall into the lowest income bracket.
|Northern Ontario Energy Credit (NOEC)||$172: If you’re a single individual|
$265: If you have a family
|Ontario Energy and Property Tax Credit (OEPTC)||$1,194: If you’re between 18 and 64 years old|
$1,360: If you’re over 65 years old
$265: 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)||$345: For each child and adult in the household|
What are the Ontario Trillium Benefit Payment Dates 2023?
The annual OTB entitlement is typically divided by 12 and payments are made on the 10th of each month. Below is the schedule for OTB in 2023:
January 10, 2023
February 10, 2023
March 10, 2023
April 10, 2023
May 9, 2023
June 10, 2023
July 10, 2023
August 10, 2023
September 8, 2023
October 7, 2023
November 10, 2023
December 8, 2023
What is the Ontario Trillium Benefit?
The Ontario government in Canada is in charge of running the Ontario Trillium Benefit Program.
It is designed to help low- to moderate-income individuals and families with the cost of energy, property taxes, and sales tax.
The benefit combines three different credits: the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.
The amount of the benefit depends on various factors, such as income, family size, and location.
To apply for the OTB, individuals must file their income tax returns and claim the benefit on the appropriate forms.
new ontario trillium benefit,
2023 Ontario trillium benefit, ontario trillium payment dates 2023, otb benefit, what is trillium benefit, trillium benefit payment dates, new ontario trillium benefit payment, OTB eligiblity, ontario tax credits, otb payment dates 2023, otb payments 2023, otb benefit payment dates, cra otb payment dates,