The Ontario Trillium Payment Dates 2024 Benefit is disbursed on the tenth of every month. Furthermore, the final working day before the 10th of the month is when the OTB payment is made if it falls on a weekend or recognized holiday.
Dates of Trillium Payment in 2024:
The government of Ontario administers the Trillium Benefit Amount, a social program designed to help low- and moderate-income households pay for other taxes and energy. The Tenth Day of Every Month is when the Trillium Payment Dates 2024 take place unless it’s a legislative holiday or a weekend. In these cases, the OTB payment deadline shall be the last working day before the tenth.
We anticipate receiving the next tranche of the Trillium benefit on October 10, November 10, and December 8, 2023. Your OTB payment might be issued as a cheque or via direct deposit. This guarantees that the benefit amount is distributed promptly and on schedule. This article contains further information on the Trillium Payment Dates 2024 and associated elements.
Trillium Payment 2024: What Is It?
One of the main benefit programs offered to Ontario citizens is the Ontario Trillium Benefit (OTB). It’s a monthly payment that you get from the government of Ontario. It helps Ontario residents with low to moderate incomes pay their energy bills and taxes. Even if the benefit isn’t a personal loan, you must apply to be eligible.
The Ontario Trillium Benefit combines sales tax credits, energy credits, and property tax credits from Ontario. Thus, the benefit attempts to cover sales tax exemptions, a portion of property taxes, and energy expenditures. A single individual may only get a maximum of $172, but families might receive up to $265.
- Canada Revenue Agency is the responsible agency.
- Location: Canada’s Ontario
- The goal is to help families with medium-low incomes pay their taxes.
- Payment dates for Triilium are on the tenth of each month using the FY CRA Online Portal at https://www.canada.ca/en/revenue-agency.html.
Amount of Trillium Payment in 2024:
The maximum OSTC for adults and children combined in 2023–2024 is $345. Your benefit is reduced by 4% of your adjusted household net income, which for parents is $33,169, and for single persons without children is $26,535.
- Ages 18 to 64: $1,194
- $1,360 for those 65 and older
- Rent for a public long-term care facility: $265
- Students residing in approved educational facilities: $25
You can use your OTB to pay off any outstanding balances owed to the CRA for delinquent taxes or other benefits. Should anything remain, it will be forwarded to you.
Lump Sum Trillium Payment for 2024:
If you receive any of the three tax credits consolidated into the Ontario Trillium Benefit, the benefit year runs from July of one year to June 30 of the following year. It is based on information from your personal income tax return from the previous year. You will get the entire amount in July if your payment is less than $360.
If your benefit is more than $360, you will get the OTB in monthly installments, but at the conclusion of the OTB payment term, you may alternatively choose to receive a single lump sum payment. You can obtain one sizable payment from the Ontario Trillium Benefit instead of 12 monthly installments. Please submit the request by December 23, 2023.
2024 Payment Plan:
The tenth of each month is when the Trillium Payment is distributed. The distribution of Trillium Payments takes place from July through June of the subsequent year. To get the program’s advantages, all prospective recipients must file their taxes on time.
- October 2023: October 10, November 2023: October 12, December 2023: Eight January 2024: February 10, March 2024: April 8, 2024: May 10, 2024: June 10, 2024: Tenth
If you were not paid on the designated OTB payment dates, you must wait ten days to contact the CRA by phone.
How Can I Apply for 2024 Benefits from the Trillium Payment?
To be eligible for the OTB, you must file an ON-BEN Application Form, which is included in your tax return package and your individual Income Tax and Benefit Return each year. Your eligibility for OTB benefits will be evaluated automatically once you file your income tax and benefit return.
Therefore, timely submission of your tax return for the previous year is a requirement for eligibility for the OTB. If you file your taxes after the April 30 deadline, your OTB payment may be delayed. There is no tax on the Trillium benefits payment amounts.