amount received depends on ON tax otherwise payable
must be claimed by the spouse with higher net
cannot exceed ON tax payable (not refundable)
The tax reduction cannot be claimed by an individual
who was not resident in Canada at the beginning of the year. Thus,
it is not available to new immigrants.
The tax reduction for dependents under age 19 is not
shown on the Ontario TD1
forms, so employees or pensioners will have to provide the employer or
payer with a written request to include such amounts.
Tax Tip: File a tax
return even if you have no income, to get the refundable tax
Prior Refundable Tax Credits
Ontario Energy and Property Tax Credit (being replaced
The Ontario 2010 Budget proposed to convert the Property Tax Credit to
the Energy and Property Tax Credit, which would be paid quarterly like the
Sales Tax Credit, beginning in 2011, based on 2010 tax returns.