In March-April of each year, my office will prepare income tax returns for low-income constituents, including seniors. In February 2013, this page will be updated to include pertinent information about income tax preparation.
The province of Ontario is changing the way the three refundable tax credits are paid to you for the 2011 income tax year. This means that the amount of money you will get from the Ontario government will change. This will impact your 2011 income tax return – most individuals will get NO refund from the provincial government.
The Ontario government has combined the three refundable tax credits into the Ontario Trillium Benefit:
- The Ontario Energy and Property Tax Credit;
- The Ontario Sales Tax Credit; and
- The Northern Ontario Energy Credit.
In the past, you got the money for these tax credits (if they applied to you) in a lump-sum refund after you filed your income tax return. For your 2011 income tax return, it is likely that you will get NO LUMP-SUM REFUND and instead will have this money sent to you in installments. In 2012, you’ll get paid the money for these tax credits separately for the first half of the year, and starting in July 2012 will be bundled together as the Ontario Trillium Benefit..