As January rolls in, Ontarians can look forward to receiving the first Ontario Trillium Benefit (OTB) payment of the year. If you’re eligible, this payment could offer a much-needed financial boost to help with costs like property taxes and energy bills.
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Funded by the Government of Ontario and managed by the Canada Revenue Agency (CRA), the OTB is a monthly, tax-free payment aimed at supporting low- to moderate-income households. The amount you could receive depends on a variety of factors including your income, family size, and place of residence.
Here’s everything you need to know about this month’s Ontario Trillium Benefit payment, including how much you can get and when it will arrive.
What is the Ontario Trillium Benefit?
The Ontario Trillium Benefit (OTB) is a financial assistance program for Ontario residents, combining three key credits into one monthly payment:
- Ontario Energy and Property Tax Credit (OEPTC)
- Ontario Sales Tax Credit (OSTC)
- Northern Ontario Energy Credit (NOEC)
These credits are designed to help with energy costs, property taxes, and sales tax in Ontario. The OTB is administered by the CRA, and payments are issued monthly based on your eligibility for the credits.
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Who Is Eligible for the Ontario Trillium Benefit?
To qualify for the January 2025 OTB payment, you must have filed your 2023 tax return, even if you didn’t earn any income. The CRA uses your tax return details, including household income, to determine your eligibility.
- Married or Common-Law Couples: Both your and your partner’s tax filings will be considered.
- Turning 18 Before June?: If you turn 18 before June, filing your taxes now will allow you to start receiving payments as soon as you’re eligible.
If you haven’t filed your tax return yet, it’s not too late! Submitting your 2023 return now could still allow you to access any payments you’re entitled to.
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How Much Can You Receive from the Ontario Trillium Benefit?
The amount of money you’ll receive from the Ontario Trillium Benefit depends on several factors such as your income, age, family size, and where you live. Here’s an overview of the maximum yearly amounts available from each of the credits:
- Northern Ontario Energy Credit:
- $180 for individuals
- $277 for families
- Ontario Energy and Property Tax Credit:
- Up to $1,248 for individuals aged 18-64
- Up to $1,421 for seniors aged 65 and older
- Ontario Sales Tax Credit:
- Up to $360 each for you, your spouse, and each dependent child.
The CRA then splits your annual OTB amount into 12 monthly payments, based on your eligibility for these credits.
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When Do Ontario Trillium Benefit Payments Go Out?
The next OTB payment is scheduled for Friday, January 10, 2025. Typically, OTB payments are issued on the 10th of each month unless it falls on a weekend or holiday. In that case, payments are sent out on the previous business day.
Here’s the schedule for the remaining 2025 OTB payment dates:
- February 10, 2025
- March 10, 2025
- April 10, 2025
- May 9, 2025
- June 10, 2025
If your annual OTB amount was $360 or less, you would have already received your payment as a single lump sum in July 2024.
How to Check Your Eligibility and Claim Your OTB Payment
To ensure you’re receiving the maximum benefit, check your eligibility by filing your 2023 tax return (if you haven’t already). The amount you receive will be determined by the information on your return, such as household income and dependents.
Don’t miss out on the financial assistance you deserve—filing your taxes now could make a big difference!
Summary: Key Points to Remember
- January 2025 OTB payment: Arrives on January 10, 2025
- Eligibility: Must have filed your 2023 tax return
- Maximum possible payment: Varies depending on income, age, family size, and where you live
- Payment dates: Monthly on the 10th, unless it falls on a weekend/holiday
If you’re eligible, the Ontario Trillium Benefit could give your budget a helpful boost in the new year. Make sure to file your taxes, check your eligibility, and enjoy the benefits.
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