PERTH-WELLINGTON – Provincial officials are reminding Ontario residents to ensure they take advantage of provincial credits when filing their tax returns.
Families, workers, and seniors will all benefit from provincial tax credits and other initiatives, says Perth-Wellington MPP Randy Pettapiece.
“As we approach tax season, we want to make sure that people who need a little extra help actually get it,” Pettapiece said. “These are challenging times for many people,” he added.
A press release from Pettapiece’s office outlines several available provincial tax credits.
The Ontario Jobs Training Tax Credit helps workers train for a career shift, re-train, or to sharpen their skills. The credit provides up to $2,000 for 50 per cent of eligible expenses. The government is extending this tax credit to the 2022 tax year to help more workers upgrade their skills.
The Seniors’ Home Safety Tax Credit helps make seniors’ homes safer and more accessible so they can stay in their homes longer. The credit is worth 25 per cent of up to $10,000 in eligible expenses for a senior’s principal residence in Ontario, to a maximum credit of $2,500. The government is also extending this tax credit to the 2022 tax year.
The Low-Income Workers Tax Credit, known as Low-income Individuals and Families Tax (LIFT) Credit, provides up to $850 each year in Ontario personal income tax relief to low-income workers. It can reduce or eliminate Ontario personal income tax, excluding the Ontario Health Premium.
The Ontario Child Care Tax Credit provides flexibility to choose the child care options that work best for each family. The government is providing a 20 per cent top-up to this tax credit for 2021, increasing support from $1,250 to $1,500, on average.
The Ontario Seniors’ Public Transit Tax Credit is a refundable tax credit to help seniors with public transit costs.
The Ontario Energy and Property Tax Credit is a refundable tax credit to help low to moderate income individuals and seniors with property taxes and sales tax on energy costs.
“The people of Ontario work hard and our government understands that taxpayers are under pressure,” said Ontario Minister of Finance Peter Bethlenfalvy. “As people gear up for another tax season, I want to encourage everyone to explore the credits they could be eligible to receive.”
Individuals and families should also save their receipts for local travel in 2022 to claim the Ontario Staycation Tax Credit next tax season.
This tax credit is designed to help the tourism and hospitality sectors recover from the COVID-19 pandemic. It allows Ontario residents to claim 20 per cent of eligible 2022 accommodation expenses (for example, for a stay at an eligible hotel, cottage or campground) of up to $1,000 as an individual or $2,000 if you have a spouse, common-law partner or eligible children.
Individuals can get back $200, while families can receive a $400 credit.
The province is encouraging all Ontario residents to file their income taxes for 2021, even if they have no taxable income to report. Because each situation is different, the province has set up an online self-assessment: https://www.ontario.ca/page/find-benefits-and-programs.
The deadline for most individuals to file their personal 2021 Income Tax and Benefit Return is Monday, May 2, 2022. Individuals can plan ahead and save time filing by using Canada Revenue Agency’s digital services to view and update information: https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals.html.
For more information on this announcement: https://news.ontario.ca/en/release/1001558/ontario-making-life-more-affordable-this-tax-season-with-tax-credits-for-workers-seniors-and-families.
