Ontario Trillium Benefit Payment Dates 2024, OTB Amount, Eligibility and Application Process

The Ontario Trillium Payment Dates 2024 is a program designed to simplify financial support by combining three important aids into one monthly payment. This includes the Ontario Energy and Property Tax Credit, the Northern Ontario Energy Credit, and the Ontario Sales Tax Credit.

OTB payments are generally made in 12 monthly installments, starting on the 10th of each month from July 2024. If the payment date falls on a weekend or holiday, the payment will be processed on the preceding business day. This applies to all three credits.

Ontario Energy and Property Tax Credit (OEPTC)

The OEPTC helps Ontario residents with low to modest incomes by reducing energy and property taxes. It has two parts: one for energy costs and one for property taxes. To qualify, you must be an Ontario resident for at least one year and meet certain eligibility requirements.

Eligible expenses include:

• Rent or property taxes for your primary home in Ontario for 2023
• Accommodation costs in a non-profit or public long-term care facility in Ontario for 2023
• Home energy costs (like electric heating) for your main residence in Ontario for 2023

Benefit Amount: If you chose the 2023 return option and your 2024 OTB amount exceeds $360, you’ll receive it in a lump sum at the end of your benefit year, which is June 10, 2025. If it’s less than $360, you’ll get the full amount at the start of the first installment month, usually in July.

Additional Note: If you were 64 or older as of December 31, 2023, and paid property taxes on your primary home in Ontario in 2023, you might also qualify for the Ontario Senior Homeowners’ Property Tax Grant in 2024.

Northern Ontario Energy Credit (NOEC)

The NOEC supports Northern Ontario residents by helping with higher energy costs in the region. To qualify, you must have paid for one or more eligible expenses in Northern Ontario by December 31, 2023.

Eligible expenses include:

• Property taxes or rent for your main home in Northern Ontario for 2023
• Costs for living in a non-profit or public long-term care facility in Northern Ontario for 2023
• Energy bills for your primary home in Northern Ontario for 2023

Benefit Amount: If you chose the 2023 return option and your 2024 OTB amount exceeds $360, you’ll get it in full on June 10, 2025. If it’s less than $360, you’ll receive it in one lump sum during the month you get your first payment, usually in July.

Ontario Sales Tax Credit (OSTC)

The OSTC is a tax-free payment designed to help residents with low to moderate incomes offset sales tax. For the 2024 period, the maximum credit is $360 per person. Single parents see a 4% reduction for incomes over $27,729, while families or individuals with one parent see a reduction for incomes over $34,661.

Payment Dates Overview: OTB payments are scheduled for the 10th of each month. If the 10th is on a weekend or holiday, payments are made on the last working day before the 10th. Here are the payment dates for 2024:

• January 10
• February 9
• March 8
• April 10
• May 10
• June 10
• July 10
• August 9
• September 10
• October 10
• November 8
• December 10

How to Apply for OTB

You don’t need to fill out a separate application for OTB if you already file your annual income tax and benefit returns. Just make sure to:

1. Complete your tax return on time to ensure the CRA uses the correct information for your OTB eligibility.
2. Fill out the ON-BEN form, which includes the Ontario Trillium Benefit and the Ontario Senior Homeowners’ Property Tax Grant applications.
3. Verify all information is accurate and file your return by the April 30 deadline to avoid delays.

FAQs

Source: https://sosamericapac.org/