Ontario -> Personal tax credits
Non-refundable personal tax credits For information on the amounts of most non- refundable
tax credits available to Ontario residents, see the non-refundable
personal tax credits tables .
available to low income individuals and families amount received depends on ON tax otherwise payable must be claimed by the spouse with higher net
income cannot exceed ON tax payable (not refundable)
See Canada Revenue Agency ( CRA) form ON428 from the Ontario
General Income Tax and Benefit Package page for detailed calculation.
These are refundable to an individual even if no income tax was paid.
Property Tax Credit
for residents of Ontario who are property owners
or renters aged 16+ on December 31 of the tax year for rent or property tax paid in Ontario in the
year
Sales Tax Credit
for taxpayer & spouse, plus each dependent child aged 18 or less
The two credits are combined, and amount received depends on:
individual or family net income amount of rent or property tax paid age (under or over 65)
Every individual's situation is different, so check CRA form ON479
from the Ontario
General Income Tax and Benefit Package page to see if you qualify for these credits.
The Ontario 2009 Budget proposes to
replace the combined Sales and Property Tax Credit with two separate
credits:
Ontario Sales Tax Credit :
tax relief of up to $260 for each adult and child
in low-and middle-income families
reduced by 4% of adjusted family net income over
$20,000 for single people, and over $25,000 for families
refundable and paid quarterly, starting July 2010
Ontario Property Tax Credit
based on occupancy cost - property tax paid, or 20%
of rent paid
credit of up to $250 for non-seniors or $625 for
seniors, plus 10% of occupancy cost
credit would not exceed occupancy cost, and would
be subject to a maximum of $900 for non-seniors and $1,025 for seniors
adjusted by 2% of adjusted family net income over
$20,000 for single people and over $25,000 for families
refundable, and claimed on the personal income tax
return, beginning with the 2010 return.
See also the Ontario Ministry of Revenue web page on the Ontario
tax credits system .
Tax tip: File a tax
return even if you have no income, to get the refundable tax
credits.
Revised: November 20, 2009
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