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Who qualifies for Ontario Trillium benefit OTB?

Who qualifies for Ontario Trillium Benefit? You can claim the Ontario Trillium Benefit if you are eligible for the Ontario Energy and Property Tax Credit (OEPTC), the Ontario Sales Tax Credit (OSTC), or the Northern Ontario Energy Credit (NOEC).

What is the tax break for 2023?

The 2023 standard deduction is $13,850 for single filers and those married filing separately, $27,700 for those married filing jointly, and $20,800 for heads of household. It is claimed on tax returns filed by April 2024.

What is the CTC payment for 2023?

Thats because most of the credit (the non-refundable portion) can only reduce the amount of federal tax you owe. But there is good news. A portion of the CTC is refundable, and the refundable amount is higher for 2023 than it was the year before. For 2023, the refundable portion of the credit is $1,600.

Who can claim Ontario sales tax credit?

Ontario sales tax credit (OSTC) The OSTC helps low- to moderate-income individuals, 19 years of age and older, and families, including single parents, with the sales tax they pay. The OSTC is paid as part of the OTB . You must be a resident of Ontario at the beginning of a month to receive that months payment.

How much will i get for child tax credit 2023?

The maximum tax credit available per child is $2,000 for each child under 17 on Dec. 31, 2023. For tax year 2021, the expanded child tax credit was $3,600 for children 5 and under, and $3,000 for children ages 6 to 17. Thats no longer the case.

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