Ontario Credits and Benefits for Individuals and Families

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1 Credits and Benefits for Individuals and Families 2011 Ministry of Revenue Get Your Money There are many Ontario credits and benefits that families (including couples and single parents) and individuals may be entitled to If you qualify, credits and benefits mean more money in your pocket You don t have to earn income or pay tax to get this money Ministry of Revenue ontario.ca/revenue - 2-1

2 Sales Tax Transition Benefit Payments Up to $1000 per family (including single parents), or up to $300 for single people Paid in three instalments It s not too late to get the 2011 payment Ministry of Revenue ontario.ca/revenue Sales Tax Credit (STC) Payments Up to $265* per person Paid quarterly in August 2011, November 2011, February 2012, and May 2012 In addition to federal GST/HST credit payments * maximum amounts and income thresholds may increase each year due to inflation Ministry of Revenue ontario.ca/revenue - 4-2

3 Sales Tax Credit (STC) Payments OSTC Calculation Family Size Single Family of 2 Family of 3 Family of 4 Family of 5 Family of 6 Phase Out Range Adjusted Net Income or Family Net Income ($) $20,360 to $26,985 $25,450 to $38,700 $25,450 to $45,325 $25,450 to $51,950 $25,450 to $58,575 $25,450 to $65,200 Maximum Annual Payment $265 $530 $795 $1,060 $1,325 $1,590 Phase-out Rate 4% Ministry of Revenue ontario.ca/revenue Northern Ontario Energy Credit (NOEC) Payments Up to $204* per family or up to $132* per single person, per year, living in northern Ontario 2011 credit paid by instalments, along with Energy and Property Tax Credit instalments Northern Ontario means the districts of: Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury, Thunder Bay, and Timiskaming * maximum amounts and income thresholds may increase each year due to inflation Maximum Benefit $132* Single Person Benefit Reduction Range $35,630* - $48,830* Ministry of Revenue ontario.ca/revenue Family (including single parents) Maximum Benefit $204* Benefit Reduction Range $45,810* - $66,210* 3

4 Ontario Energy and Property Tax Credit (OEPTC) Payments Up to $917* for non-seniors, or up to $1044* for seniors Seniors living in public long-term care homes may be eligible for the energy portion of this credit, if an amount for accommodation was paid 2011 credit paid by instalments in July 2011, December 2011, March 2012, June 2012 * maximum amounts and income thresholds may increase each year due to inflation Ministry of Revenue ontario.ca/revenue Ontario Trillium Benefit (OTB) Will combine payment of up to three refundable credits starting in July 2012 Benefit will be paid on a monthly basis Ministry of Revenue ontario.ca/revenue - 8-4

5 How the Ontario Trillium Benefit (OTB) Will Work Example A senior couple living in North Bay has $35,000 in net income and pays $1,125 a month in rent For the July 2012 June 2013 period, they will receive: $148* Sales Tax Credit (STC) $818* Energy and Property Tax Credit (OEPTC) $204* Northern Ontario Energy Credit (NOEC) $1,170 Total * Estimate based on amounts Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr STC OEPTC NOEC OTB OTB will provide 12 equal payments of $97.50 = $1,170 Ministry of Revenue ontario.ca/revenue May June Ontario Clean Energy Benefit 10% rebate on your monthly electricity bill Began January 1, 2011 and continues for the next five years About $150 in savings each year for average household No application is required Ministry of Revenue ontario.ca/revenue

6 Children s Activity Tax Credit Helps parents with the costs of enrolling children in both fitness and non-fitness activities Up to $51* per child (under 16), or up to $102* per child with a disability (under 18) Credit paid as a tax refund or used to reduce any income tax that you owe Eligible activities include music, drama, dance and arts programs * maximum amounts and income thresholds may increase each year due to inflation Ministry of Revenue ontario.ca/revenue Ontario Child Benefit Up to $1,100 per year for each child under 18 years of age Paid monthly, along with Canada Child Tax Benefit payments Helps low-income families with the costs of raising children Year July 2011 to June 2012 OCB Monthly Payment Estimates ($)* Number of Children $20, Family Net Income $25, $30, * Ministry The monthly of Revenue payment ontario.ca/revenue values listed in the chart above are an estimate of the amount of OCB you may receive. Monthly payments are determined by the Canada Revenue Agency based on your adjusted family net income as determined by your annual tax return. 6

7 Ontario Child Care Supplement for Working Families Up to $210 per year for each child in a single parent family You must have a child under the age of seven, born prior to July 1, 2009 to qualify Monthly payments Your child does not have to be in daycare Ministry of Revenue ontario.ca/revenue Senior Homeowners Property Tax Grant Up to $500 per year per household One payment every year Must be a senior and own your home Ministry of Revenue ontario.ca/revenue

8 Guaranteed Annual Income System Helps guarantee a minimum income for seniors Up to $83 per month In addition to federal Old Age Security Pension and Guaranteed Income Supplement payments Ministry of Revenue ontario.ca/revenue Non-refundable Tax Credits Non-refundable credits help you reduce or eliminate the amount of income tax you owe Excess non-refundable credits do not create a tax refund These are Ontario tax credits of special interest, and are in addition to the federal non-refundable tax credits Ministry of Revenue ontario.ca/revenue

9 Non-refundable Tax Credits Includes: basic personal amount spouse or common-law amount age amount pension amount disability amount interest paid on student loans tuition and education amounts medical expenses Ministry of Revenue ontario.ca/revenue Ontario Tax Reduction May reduce or eliminate your Ontario taxes For 2011, basic reduction will be $210* In addition, you will be able claim a $389* reduction for dependent children born in 1992 or later and for dependants with mental or physical disabilities * maximum amounts and income thresholds may increase each year due to inflation Ministry of Revenue ontario.ca/revenue

10 How Much Money Will I Get? Tax Credit Calculator is now available on our website Visit calculatorquestions.asp Ministry of Revenue ontario.ca/revenue How to Get Your Money To receive these credits and benefits, you must file a return with the Canada Revenue Agency You can claim tax credits and benefits for prior years Ministry of Revenue ontario.ca/revenue

11 T1 General 2010 Return Check yes on page 1 to apply for the Ontario Sales Tax Credit Ministry of Revenue ontario.ca/revenue ON-BEN Page 1 Application for the 2011: Ontario Senior Homeowners Property Tax Grant Ontario Energy and Property Tax Credit Northern Ontario Energy Credit Ministry of Revenue ontario.ca/revenue

12 ON-BEN Page 2 Application for the 2011: Ontario Senior Homeowners Property Tax Grant Ontario Energy and Property Tax Credit Northern Ontario Energy Credit Ministry of Revenue ontario.ca/revenue Ontario Credits ON479, Page 1 Ontario Energy and Property Tax Credit Occupancy cost Energy component Property tax component Ministry of Revenue ontario.ca/revenue

13 Ontario Credits ON479, Page 2 Children s Activity Tax Credit Ministry of Revenue ontario.ca/revenue Ontario Tax ON-428, Page 1 Non-refundable tax credits Basic personal amount Age amount Spousal amount Disability amount Medical expenses Donations and gifts Ministry of Revenue ontario.ca/revenue

14 Ontario Tax ON-428, Page 2 Ontario Tax Reduction Ministry of Revenue ontario.ca/revenue Need More Information? online: ontario.ca/taxcredits General Information: ontario.ca/revenue phone: ONT-TAS ( ) feedback.rev@ontario.ca Ministry of Revenue ontario.ca/revenue

15 Need More Information? ontario.ca/benefitsdirectory Ontario Benefits Directory a simple, easy and convenient point of access to many provincial benefit and tax credit programs makes it easier to: find information about a program determine if you are eligible find out how you apply get updates about changes to a program learn about a new program ontario.ca/benefitsdirectory Ministry of Revenue ontario.ca/revenue Canada Revenue Agency Contact Information Website: Telephone Numbers Provincial Programs for Ontario: - Sales Tax Credit - Sales Tax Transition Benefit - Ontario Energy and Property Tax Credit payment - Northern Ontario Energy Credit payment - Ontario Senior Homeowners' Property Tax Grant payment Personal income tax enquiries/working Income Tax Benefit GST/HST Credit Universal Child Care Benefit / Canada Child Tax Benefit Forms Payment enquiries: Eligibility/how to apply enquiries: Ministry of Revenue ontario.ca/revenue

16 Additional Contact Information Contact Service Canada for Old Age Security, Canada Pension Plan and Guaranteed Income Supplement enquiries Go to website at Call Contact the Ontario Ministry of Revenue for Guaranteed Annual Income System enquiries ONT-TAS ( ) Ministry of Revenue ontario.ca/revenue Ontario Benefits Payment Schedule Payment Type Ontario Child Benefit Ontario Clean Energy Benefit Northern Ontario Energy Credit Ontario Sales Tax Credit 2010 Children's Activity Tax Credit 2010 Ontario Energy and Property Tax Credit Ontario Senior Homeowners' Property Tax Grant Ontario Sales Tax Transition Benefit 2011 Northern Ontario Energy Credit 2011 Ontario Energy and Property Tax Credit Payment Amount Up to $91.66 per child monthly About $12.80 per month for a typical residential consumer using 800 kwh per month** Up to $65 for individuals, or up to $100 for families (second of two payments) 1: Up to $65 quarterly for each adult and child 2: Up to $66.25 quarterly for each adult and child Up to $50 per child (up to $100 for a child with a disability) annually, paid as part of 2010 tax assessment Up to $900 for non-seniors, or up to $1,025 for seniors, annually, paid as part of 2010 tax assessment Up to $500 for eligible seniors annually, paid 4 to 8 weeks following the assessment of the 2010 return Up to $335 for families, or up to $100 for individuals (third of three payments) Up to $33 for individuals, or up to $51 for families, the first two of four payments for the year Up to $ for non-seniors, or up to $261 for seniors, the first two of four payments for the year M A M 1 Month * The June 2011 Ontario Child Benefit payment amount includes a catch up amount of $0.08 to bring the total payment for the July 2010 to June 2011 benefit year to $1,100 per child. ** Ontario Clean Energy Benefit (OCEB) is effective as of January 1, Due to the length of time required for implementation, these price adjustments would appear on electricity Ministry bills of no Revenue later than May ontario.ca/revenue 2011, and will be retroactive to January 1, OCEB - 32 amount - will vary based on actual price, consumption and location. Timing of payment also depends on billing cycle of each distribution company (e.g., monthly, bi-monthly), as well as amount of payment on each bill (e.g., one or two months worth of the proposed OCEB credit). J F 1 J * J A 2 S O N 2 D 16