Ontario Sales Tax Credit 2024 – Know OTB Amount & Eligibility

The Ontario Sales Tax Credit 2024 is the non taxable payment which has been designed to give benefit to the low to moderate income residents of Ontario on the sales tax amount which they will pay. The ones who are either 19 years or older than that will be called under the OSTC Eligibility 2024. The OSTC is the part of the Ontario Trillium Benefits 2024 where the annual entitlement is paid in monthly installments to the citizens. The Ontario Sales Tax Credit Amount 2024 is as per the family situation. Now the readers shall be with us till the end of this article to get the complete details regarding the Canada OSTC 2024 which is the annual credit,

Ontario Sales Tax Credit 2024

Canada’s Province of Ontario has been providing the Ontario Trillium Benefits where the combined benefit of the Energy and Property tax credit, Energy Credit and Sales Tax Credit is provided to the citizens. The OTB payments are provided every month to the citizens on 10th of the month and it is the annual entitlement which gets divided by 12 to get the payment. Now if we talk about the Ontario Sales Tax Credit 2024, it is the tax free payment which has been made to provide a relief to the low to moderate income citizens of Ontario for the payment of the Sales tax which they make. For all the payments which are based on the income tax and benefit return of the year 2023, the program is entitled to make the annual credit payment for each adult and each child in the family for the amount of $360. 

The family having no children will get their benefits reduced by 4% of the adjusted net income which is more than $27729. If you are a single parent or married or living with a common law partner, then your benefits will be reduced by 4% of the income over $34661. The OSTC payments are part of the Ontario Trillium Benefits 2024 which is paid on the 10th date of every month and will start in July 2024. In case the 10th date is a holiday or falls on a non-working day, the payment which the citizens will get will be credited on a previous day. Through this post, the citizens will be able to collect all the details on the benefit which the citizens are entitled to get.

canada.ca Ontario Sales Tax Credit 2024

The Ontario Sales Tax Credit 2024 is the tax free payment paid to the citizens for the sales tax amount which they pay. To get the tax credit, one has to be of age either 19 years or more. The below given table will guide you with all the details on the tax credit which one is eligible to get.

Article name Ontario Sales Tax Credit 2024
Organization Canada Revenue Agency 
Province Ontario 
Country Canada 
Benefit name Ontario Sales Tax Credit 
Benefit year 2024
Benefit start date July 2024 onwards 
Major benefit Ontario Trillium Benefit 
Payment date 10th of each month 
Payment amount $360 for each 
Payment frequency Monthly 
Post type Finance
Website canada.ca
Ontario Sales Tax Credit 2024

Ontario Trillium Benefits 2024

  • The Canada Revenue Agency has been providing the benefit to the citizens named as the Ontario Trillium Benefits 2024 where 3 different benefits are covered.
  • The benefits covered under the OTB includes the Ontario Energy and Property Tax Credit, Northern Ontario Energy Credit and Ontario Sales tax credit 
  • The individuals will get the payments for the year 2024 on the basis of the tax return for the year 2023.
  • The citizens will get the payment transferred to them on the 10th date of the month only if it is not a holiday.
  • The OTB is administered by the Province of Ontario and CRA administers on the behalf of the Province.

OSTC Eligibility 2024

  • Below mentioned are the points under the canada.ca Ontario Sales Tax Credit Eligibility 2024.
  • You belong to low to moderate income families.
  • The age limit is 19 years or more
  • The beneficiary has to be a resident of Ontario.
  • You had a spouse or common law partner
  • You are a parent and are living with your child or have levied with the child.

Canada OSTC Application 2024

The individuals need not apply for the OSTC benefits when you file your tax return. The CRA will determine the eligibility and will tell you if you are entitled to get the benefits. Therefore, you must wait for your payment and do not fill the Canada OSTC Application 2024.

Ontario Sales Tax Credit Amount 2024

The payments based on the 2023 income tax and the benefit return will get the payment of $360 for each adult and each child in the family as per Ontario Sales Tax Credit Amount 2024. The ones who are single individuals having no children will get a reduction of 4% of the net income which is above $27729. The credit will be reduced by 4% of the income over $34661 if one is a single parent or married or living in a common law relationship. The payments will be issued as a part of OTB on the 10th date of each month.

OSTC Payment Date 2024

The payment under the OSTC will be given on the 10th of each month and one will get the same credited to their accounts.

Month OSTC Payment Date 2024
March 20248 March 2024
April 202410 April 2024
May 202410 May 2024
June 202410 June 2024
July 2024 10 July 2024 
August 20249 August 2024
September 202410 September 2024
October 202410 October 2024
November 20248 November 2024
December 202410 December 2024

canada.ca Ontario Sales Tax Credit 2024 Links

Ontario Sales Tax Credit 2024Ontario Sales Tax Website

Frequently Asked Questions on Ontario Sales Tax Credit 2024

 What is the meaning of Ontario Sales Tax Credit 2024?

The OSTC 2024 is the amount which is given to the low to moderate income families for the sales tax they pay.

What is the age limit for the Ontario Sales Tax Credit 2024?

The age limit for the OSTC 2024 is 19 years and above.

What is the amount of Ontario Sales Tax Credit 2024?

$360 for each child and each adult is the amount of the Ontario Sales Tax Credit 2024.

What is the OSTC 2024 Payment Date?

The Ontario Sales Tax Credit 2024 Payment Date is the 10th date of each month.

From where can one check the details for OSTC 2024?

The details on the Ontario Sales Tax Credit 2024 can be checked through canada.ca 

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