Don’t forget to file to receive Ontario’s tax credits and benefits
The Government of Ontario provides a number of credits and benefits to Ontarians, but to receive these credits and benefits, you must file an income tax return.
Ontario Sales Tax Transition Benefit:
By filing your 2009 and 2010 income tax returns, you could qualify for the Ontario Sales Tax Transition Benefit. This benefit provides three installments totalling up to $1,000 for families (including single parents and senior couples) or up to $300 for single people.
Ontario Sales Tax Credit:
The Ontario Sales Tax Credit provides up to $260 for each adult and child in a qualifying family. Seniors and single people can also qualify for this credit.
Eligible Ontarians who rent or own their homes can get up to $900 in Ontario Energy and Property Tax Credits.
Families with Children:
If your child is enrolled in activities such as hockey, soccer, music lessons or painting classes, you could be eligible for the Children's Activity Tax Credit, which allows you to claim up to $500 in expenses and get up to $50 per child under the age of 16. You could receive up to $100 if you have expenses for a child under 18 years of age with a disability.
The Ontario Child Benefit is a non-taxable income-tested monthly benefit paid to low- to medium-income families with children under 18 years of age. The Ontario Child Care Supplement for Working Families gives certain working families tax-free money every month to help them with the costs of raising children.
Eligible seniors in Ontario could get up to $1,025 in Ontario Energy and Property Tax Credits. The Guaranteed Annual Income System provides seniors up to $996 per year. And the Ontario Senior Homeowners’ Property Tax Grant provides senior homeowners up to $500 per year.
If you are interested in knowing more about Ontario’s credits and benefits, simply go to Ontario.ca/taxcredits (eng) or Ontario.ca/creditsdimpot (fr) to find out more information.
There you can access the Ontario tax credit calculator to find out more about the tax savings you or your family may be eligible to receive.
But remember, you must file your 2010 tax return to get credit and benefit payments that start in June 2011. Amounts shown above are for the 2010 benefit year.
This post was provided to me by the Ontario Ministry of Revenue. The Ontario Ministry of Revenue administers most of the province's tax statutes, tax credit and benefit programs.