The $360 Ontario Trillium Benefit (OTB) for 2024 provides financial relief to eligible low- and middle-income families in Ontario.
This benefit helps offset the cost of property taxes, energy bills, and sales taxes. It is administered by the Canada Revenue Agency (CRA) and is paid out monthly to qualified recipients.
In this guide, we’ll discuss eligibility, payment dates, and how to claim the benefit.
$360 Ontario Trillium Benefits 2024
The Ontario Trillium Benefit (OTB) is a tax credit offered to help residents of Ontario manage rising costs of living. The benefit amount is based on your income, family size, and location from the prior tax year.
Recipients may qualify for $360 or more, depending on their personal circumstances. OTB also supports seniors and low-income families by reducing property taxes and energy costs.
Overview of Ontario Trillium Benefits 2024
| Title | Details |
|---|---|
| Year | 2024 |
| Country | Canada |
| Benefit Name | Ontario Trillium Benefit (OTB) |
| Payment Frequency | Monthly |
| Payment Amount | $360 (varies based on eligibility) |
| Administered By | Canada Revenue Agency (CRA) |
| Official Website | www.canada.ca |
$360 Ontario Trillium Benefits Eligibility Criteria 2024
To qualify for the $360 Ontario Trillium Benefits in 2024, recipients must meet specific eligibility criteria:
- Residency: You must be a Canadian citizen and have lived in Ontario on December 31st of the previous year.
- Age: You must be 18 years or older to qualify.
- Tax Requirements: You must file your income taxes on time and complete the ON-BEN Application to qualify for the benefit.
- Property Tax or Rent Payment: You must have paid property taxes or rent for your primary residence in Ontario.
Other factors such as family size, income level, and residency status will also influence eligibility. Changes in family size or income may affect the amount received.
Key Eligibility Points:
- Canadian Citizen living in Ontario.
- Minimum age of 18 years or living with a spouse or child.
- Taxes must be filed and paid on time.
$360 Ontario Trillium Benefits Payment Dates 2024
Payments for the Ontario Trillium Benefit are made on the 10th of each month for eligible recipients, unless the date falls on a weekend or holiday, in which case the payment may be made earlier. Below are the tentative payment dates for 2024:
| Month | Payment Date |
|---|---|
| January | 10th |
| February | 10th |
| March | 10th |
| April | 8th |
| May | 10th |
| June | 10th |
| July | 8th |
| August | 10th |
| September | 9th |
| October | 7th |
| November | 10th |
| December | 9th |
How to Claim $360 Ontario Trillium Benefits 2024
If you believe you are eligible for the Ontario Trillium Benefits, follow these steps to claim the $360 payment:
- Complete the ON-BEN Application: The ON-BEN application form is available through the CRA website. This form must be submitted along with your income tax return.
- Submit Your Tax Returns: Ensure that you file your personal income tax return on time each year. The CRA will use the information from your tax return to assess your eligibility.
- Choose Direct Deposit: Opt for direct deposit to receive payments directly into your bank account. This ensures faster payment processing.
- Check Eligibility Changes: If your family size, income, or residency status changes, update the CRA to avoid any delays or incorrect payments.
- Contact CRA: If you face any issues with your application or payment, contact the Canada Revenue Agency for support.
$360 Ontario Trillium Benefits 2024: Fact Check
The Ontario Trillium Benefit is meant to help low- to moderate-income families with expenses such as property taxes, energy costs, and sales taxes.
The exact amount may vary depending on individual circumstances such as income, family size, and location. While $360 is an estimated amount, you should consult the CRA or a tax professional for the most accurate information about your entitlement.
The Ontario Trillium Benefit offers valuable financial relief to eligible Ontario residents by reducing the burden of property taxes, energy bills, and sales taxes.
If you qualify for this benefit, ensure you apply by completing your tax return and ON-BEN Application. Payments are made monthly, with the next round of payments starting on January 10, 2024. Stay informed about your eligibility and file your taxes on time to receive your $360 or more.
FAQs
When will the Ontario Trillium Benefit be paid in 2024?
The Ontario Trillium Benefit is paid on the 10th of every month. The first payment for 2024 is on January 10, 2024.
Who is eligible for the $360 Ontario Trillium Benefit?
Eligibility depends on factors such as Ontario residency, age, family income, and property tax/rent paid.
How do I claim the Ontario Trillium Benefit?
You can claim the benefit by filing your personal income tax return and completing the ON-BEN Application.
What is the Ontario Trillium Benefit used for?
The benefit helps cover property taxes, energy bills, and sales taxes for low- and middle-income families in Ontario.
Can the Ontario Trillium Benefit amount change?
Yes, the benefit amount may vary based on factors like income, family size, and location.
