Upcoming Ontario Trillium Benefit Payment Scheduled for September 10
The next Ontario Trillium Benefit (OTB) payment, reflecting the 2024 increase, will be disbursed to eligible residents on September 10, 2024. This vital benefit supports low- and moderate-income families by alleviating the burden of rising costs such as property taxes, energy expenses, and sales tax. This guide covers essential information about the 2024 OTB, including eligibility, upcoming payment schedules, and tips on how to maximize this financial support.
What is the Ontario Trillium Benefit (OTB)?
The Ontario Trillium Benefit (OTB) combines three key provincial credits:
- Ontario Energy and Property Tax Credit (OEPTC)
- Northern Ontario Energy Credit (NOEC)
- Ontario Sales Tax Credit (OSTC)
It provides financial relief to eligible residents for energy costs, property taxes, and sales taxes. Payments are issued by the Canada Revenue Agency (CRA) annually starting in July, based on income tax returns. With the increase effective July 2024, the next payment is scheduled for September 10, 2024, continuing the monthly disbursement cycle.
Here are the upcoming 2024 Ontario Trillium Benefit (OTB) payment dates:
- 09/08/2024
- 10/09/2024
- 10/10/2024
- 08/11/2024
- 10/12/2024
If your 2024 OTB entitlement is $360 or less, you might have received a lump-sum payment in July 2024. For entitlements over $360, payments are distributed over 12 months, starting in July.
Who Qualifies for OTB?
To qualify for the 2024 Ontario Trillium Benefit (OTB), you must meet these general criteria:
- Be an Ontario resident
- File an income tax return for the previous year
- Have a valid Social Insurance Number (SIN)
To be eligible for the Ontario Trillium Benefit (OTB), you need to meet the criteria for the specific credits included in your benefit:
- Ontario Sales Tax Credit (OSTC) Eligibility
- Be 19 years of age or older
- Be a parent living with your child or have been a parent
- Be married or in a common-law relationship
- Ontario Energy and Property Tax Credit (OEPTC) Eligibility
- Be an Ontario resident on or before December 31, 2023
- Have paid property taxes or rent
- Have lived on a reserve and paid energy costs, or resided in a long-term care facility
- Northern Ontario Energy Credit (NOEC) Eligibility
- Live in Northern Ontario (e.g., Sudbury, Thunder Bay) before December 31, 2023
- Be 18 years or older, married, or a parent
- Have paid energy costs or property taxes
How Much Can You Receive?
2024 Ontario Trillium Benefit (OTB) Maximum Annual Payments
The OTB provides the following maximum annual payments:
Northern Ontario Energy Credit (NOEC)
- Up to $180 for single individuals
- Up to $277 for families
Ontario Energy and Property Tax Credit (OEPTC)
- Up to $1,248 for individuals aged 18-64
- Up to $1,421 for individuals aged 65+
- Up to $277 for those living on reserves or in long-term care
- Up to $25 for students residing in post-secondary school accommodations
Ontario Sales Tax Credit (OSTC)
- Up to $360 per adult and child in the household
The OTB payment amount is based on your household size, income, and location, aiming to assist low- and moderate-income families with their expenses.
Frequently Asked Questions (FAQs)
1. What is the Ontario Trillium Benefit (OTB)?
The OTB is a financial aid program designed to assist low- and moderate-income Ontarians with the costs of energy, property taxes, and sales tax. It combines three credits:
- Ontario Energy and Property Tax Credit (OEPTC)
- Northern Ontario Energy Credit (NOEC)
- Ontario Sales Tax Credit (OSTC)
2. What is the maximum payment for the Ontario Trillium Benefit?
Maximum annual payments vary based on the credits you qualify for:
- NOEC: Up to $180 for individuals, up to $277 for families
- OEPTC: Up to $1,248 for those aged 18-64, up to $1,421 for seniors 65+
- OSTC: Up to $360 per person
3. What happens if my OTB entitlement is $360 or less?
If your OTB entitlement is $360 or less, you’ll receive a lump-sum payment on July 10, 2024. For entitlements exceeding $360, monthly payments will start in July 2024.
Make sure to track the upcoming Canada Revenue Agency (CRA) payment dates in 2024 to avoid missing any benefits. For more details, visit the CRA website or consult a tax professional to maximize your OTB.
English version: https://ttnimmigration.ca/vi/en/thanh-toan-tro-cap-trillium-ontario-moi-duoc-gui-vao-ngay-10-thang-9/
