Ontario’s Trillium Drug Program or TDP is aimed towards inhabitants of the Ontario province who spend roughly 4% or more of their family’s income on drug prescriptions. Pros and Cons, Best GIC Rates In Canada: Top 6 Reviewed & Compared (2020), What Is The Ontario Trillium Benefit? Required fields are marked *. OCB is automatically evaluated by the CRA every year; once you file your income tax return to know whether you qualify or. 10th of July, 2020 Also, you must have either: The Northern Ontario Energy Credit provides a tax-free benefit to low- and moderate-income residents of Northern Ontario to help offset the higher cost of energy in the North. Just by being proud Ontario resident, you get to enjoy many other benefits aside from the Ontario Trillium benefit amount. Ontario Energy and Property Tax Credit or OEPTC is a tax-free credit aimed towards low to moderate income households and individuals residing in Ontario. 10th of June, 2020. Your 2020 OTB payments, which are based on your 2019 income tax and benefit return, will be issued on the 10th of each month, starting on July 10, 2020 (see note for exceptions). As with all other benefits, this benefit amount depend’s on your income for the previous year’s taxable income filed. Payments are disbursed by the Canada Revenue Agency and mostly paid directly into your Canadian bank accounts. I need to talk to someone regarding payments to the OTB – why am I getting a bill to pay? After you have exceeded your deductible in any quarter, you only have to pay $2 for eligible prescriptions that are filled for the rest of that quarter. 2020 Medicaid Check Write Schedule; Rate Table FY 2020 - 2021 This is made up of $241 for energy costs and $844 for property taxes, $1,236 for seniors (65 years and older). To be eligible, you must be a resident of Ontario and either: You do not need to apply for the Ontario Sales Tax Credit as it is based on your previous income tax return and CRA automatically assesses whether or not you are eligible and will notify you accordingly. Month. Low-income seniors in Ontario may qualify for the GAINS benefit, a monthly non-taxable benefit. CONGRATULATORY MESSAGE. Unlike the NOEC and OEPTC, you do not need a separate application for the Ontario Sales Tax Credit (OSTC) and this is because CRA uses information from your tax return to define your qualification. This is due to the fact that the benefits are established based on the previous year’s income.
GAINS payments range from $2.50 to $83 per month depending on your income. The credit amount is reduced by 1% of your adjusted net income exceeding $42,201 for singles or $54,258 for families. His writing has been featured or quoted in the leading Canadian publications such as Credit Canada and many other personal finance publications. To be eligible for the trillium drug program, you should: TDP kicks in after you spend about 4% of your household income to purchase prescriptions. CEWS Clinic Read More July 21, 2020 News. This also goes the same for parents with net income above $30,143. Before you’re considered eligible for the OEPTC, you must meet the minimum age requirement of 18 years and also reside in Ontario as of December 31st of the previous year. MP Update July 2020 Read More July 19, 2020 CONTACT OUR OFFICE. Please read our, 11 Legit Online Jobs for Students in Canada. Lastly, if your trillium benefit is more than $2, but less than $10, it is increased to $10. To be considered eligible for this program, you must: Be a resident of Ontario and possess a valid Ontario health card, You should be without a private insurance plan that ensures your drug expenses at 100%, You should not be spending more than 4% of your net income on drug expenses, Finally, you should not be qualified for drug cost coverage under the Ontario Drug benefit program. The maximum NOEC in 2020 is $157 for single individuals with no children and $241 for families. OTB payments are funded by the Ontario government and disbursed through the Canada Revenue Agency. You will also receive our FREE e-Book! If you don’t have a direct deposit set up, a cheque will be mailed to the address you have on file. The OTB payment also combines these benefits into one single payment that is paid out either monthly or once a year. I’m concerned to call the number in the letter in case it’s spam.the number in the letter is 1 877 627 6645. even though this came as a letter not an email I was suspicious I called the number someone with a very thick accent answered and once she convinced me to give my social insurance number just before giving it to her the line went dead. (Beginner’s Guide), How To Apply For The Canadian Passport?