$360 OTB Coming to Eligible Recipients in September 2024 – Check Eligibility & Payment Date

In September 2024, eligible residents of Ontario are set to receive the Ontario Trillium Benefit (OTB), which could amount to as much as $360 for certain individuals and families. This monthly benefit, provided by the government of Ontario, helps cover essential costs like energy expenses, property taxes, and sales tax for low- and moderate-income residents. Administered by the Canada Revenue Agency (CRA), the OTB combines three major credits: the Ontario Energy and Property Tax Credit (OEPTC), the Ontario Sales Tax Credit (OSTC), and the Northern Ontario Energy Credit (NOEC). This article offers a comprehensive guide on eligibility, payment dates, and how to ensure you receive the benefit.

$360 OTB Coming to Eligible Recipients in September 2024

The Ontario Trillium Benefit (OTB) is a critical financial aid for low- and moderate-income families in Ontario, providing relief from the rising costs of energy, property taxes, and sales tax. If you’re eligible for the upcoming $360 payment in September 2024, make sure your taxes are filed, and your CRA information is up to date to receive your benefits on time.

What Is the Ontario Trillium Benefit (OTB)?

The Ontario Trillium Benefit (OTB) is a monthly payment designed to assist residents of Ontario with energy costs, property taxes, and sales tax expenses. The benefit combines three distinct credits into one:

• Ontario Energy and Property Tax Credit (OEPTC)
• Ontario Sales Tax Credit (OSTC)
• Northern Ontario Energy Credit (NOEC)

Each of these credits targets different costs and regions within Ontario, helping individuals and families manage the increasing burden of living expenses.

Why Is OTB Important?

The OTB plays a critical role in supporting low- and moderate-income families who may struggle with high energy costs, property taxes, and other essential living expenses. It ensures that families can afford the necessities, such as heating, electricity, and housing-related costs, without sacrificing other areas of their household budget.

How the OTB Is Calculated

The amount you receive under the OTB is based on several factors, including your income, family size, age, and the location of your residence within Ontario. These variables are used to calculate the amount of each credit, which is then combined into a single monthly or lump sum payment.

Example Calculation

Here’s how the calculation works:

1. Adjusted Family Net Income (AFNI): If you are a single person with an AFNI below $26,535, you will be eligible for the full OSTC of up to $360.
2. Clawback: Once your AFNI exceeds $26,535 (or $33,169 for families), the OTB credit is gradually reduced by 4% of any income above this threshold.
3. Credit Breakdown: For a family living in Northern Ontario with an income of $30,000, they may qualify for:
   • $277 from NOEC
   • $1,248 from OEPTC
   • $360 from OSTC

For a personalized estimate of your OTB payment, the CRA’s Family Benefit Calculator can help you estimate the amount you will receive​.

Who Is Eligible for the $360 OTB?

To qualify for the OTB, you must meet specific criteria based on your income, residency status, and family situation. Here’s a breakdown of the eligibility requirements for 2024:

General Eligibility

1. Residency: You must have been a resident of Ontario on December 31, 2023.
2. Tax Filing: You must file your 2023 income tax return, even if you had no income. The Canada Revenue Agency (CRA) uses this information to assess your eligibility.
3. Age: You must be at least 18 years old or have a spouse/common-law partner or a dependent child.
4. Specific Criteria for Credits:

• OSTC: Available to those aged 19 or older, parents, or individuals with a spouse or common-law partner.
• OEPTC: Requires you to have paid rent or property taxes in Ontario during 2023 or lived on a reserve and paid energy costs.
• NOEC: Available to residents in Northern Ontario who paid energy costs or property taxes.

For newcomers to Ontario or temporary residents, eligibility depends on meeting additional residency and income criteria.

How Much Can You Receive?

The OTB payment depends on several factors, such as your age, income, family size, and where you live in Ontario. The maximum amount you can receive per year is as follows:

• Ontario Sales Tax Credit (OSTC): Up to $360 per person, including dependents and a spouse/common-law partner.
• Ontario Energy and Property Tax Credit (OEPTC): Up to $1,248 for individuals aged 18-64, or $1,421 for those 65 and older.
• Northern Ontario Energy Credit (NOEC): Up to $180 for singles and $277 for families living in Northern Ontario.

If your total entitlement is $360 or less, you’ll receive a lump sum payment in July 2024. If it’s more than $360, you can choose to receive monthly payments starting in July 2024 or opt for a lump sum in June 2025.

How to Appeal or Dispute OTB Amounts

If you believe your OTB payment was miscalculated or you were denied benefits unfairly, you can take the following steps:

1. Contact the CRA: Reach out to the CRA at 1-800-959-8281 to inquire about discrepancies in your payment.
2. File a Formal Appeal: If the issue isn’t resolved through customer service, you can file a formal appeal by submitting a Notice of Objection to the CRA. This can be done through your CRA MyAccount or by mailing the required documents​.

OTB Payment Date for September 2024

The OTB payments are issued on the 10th of each month unless that date falls on a weekend or holiday, in which case payments are made on the last business day before the 10th. For September 2024, the payment will be deposited into recipients’ bank accounts on September 10, 2024.

To ensure timely payments, make sure to update your personal and banking information with the CRA. Payments are typically made via direct deposit, but you can also receive them by cheque, which may take longer to arrive.

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How to Apply for the OTB

Applying for the OTB is straightforward:

1. File Your Taxes: Ensure you file your 2023 income tax return, as this is the primary method the CRA uses to assess your eligibility.
2. Complete the ON-BEN Application: You must fill out the ON-BEN form, included with your tax return, to apply for the OEPTC and NOEC components of the OTB.
3. Receive Your Payments: Once the CRA processes your tax return, your OTB payments will begin, either monthly or as a lump sum, depending on your total benefit entitlement.

If you miss filing your taxes by the deadline, you may experience delays in receiving your benefit.

Common Mistakes to Avoid When Applying

Many residents miss out on receiving their full OTB payment due to avoidable errors. Here are some common mistakes and how to avoid them:

1. Failing to File Taxes: The OTB is based on your tax return, so if you haven’t filed your 2023 taxes, you won’t be eligible for the benefit. Even if you have no income to report, you must file a return.
2. Not Updating Information: Ensure that your address and banking details are up-to-date with the CRA to avoid delays in receiving your payments.
3. Misunderstanding Eligibility: Some people assume they aren’t eligible because they don’t qualify for all three credits. In reality, you only need to qualify for one of the three credits to receive the OTB.

Additional Government Benefits

In addition to the OTB, there are other government benefits that low- and moderate-income residents of Ontario might qualify for, such as:

• Canada Child Benefit (CCB): A monthly payment to help parents with the costs of raising children under 18.
• Guaranteed Income Supplement (GIS): Additional financial support for low-income seniors receiving Old Age Security (OAS).
• GST/HST Credit: A tax-free payment for low-income individuals and families to offset some or all of the goods and services tax they pay​.

Frequently Asked Questions (FAQs)

1. What if I miss filing my taxes?
You won’t receive the OTB until your taxes are filed. It’s crucial to file your taxes even if you have no income to report.

2. Can I receive the OTB if I’m new to Ontario?
Yes, newcomers to Ontario can qualify for the OTB if they meet residency and tax-filing requirements. You must file your taxes for the year you became a resident of Ontario.

3. What happens if my entitlement is less than $360?
If your total OTB is $360 or less, you’ll receive the full amount in a lump sum in July 2024.