Ontario Trillium Benefit-monthly or lump sum?

[Ciel]

Just went to update my bankbook and had a "I know I don't have that much in my account moment" but the OTB this month was my lump sum for 2013-14, not the monthly amount.

So I looked online and there will be an option to choose between receiving the OTB monthly or as a lump sum (like the Ontario Sales Tax credit used to be given during a tax refund situation) next tax year.
http://www.fin.gov.on.ca/en/budget/o.../2013/bk4.html

However, my own account apparently has gone to lump sum mode.

"Am I richer than I think?" No.

Who else has made the same discovery this month?

[Ciel]

From the Canada Revenue Agency site:

The Ontario trillium benefit (OTB) is the combined payment of the Ontario energy and property tax credit, the Northern Ontario energy credit, and the Ontario sales tax credit. The annual OTB entitlement is divided by 12 and payments are issued monthly. Your 2013 OTB payments, which are based on your 2012 income tax and benefit return, will be issued on the 10th of each month, starting on July 10, 2013 (see note for exception).

The OTB program is legislated and funded by the Province of Ontario. The Canada Revenue Agency administers this program on behalf of the province.

Note:
If your 2013 OTB annual entitlement is $360 or less, it will be issued in one lump-sum payment in the first payment month, instead of monthly.

http://www.cra-arc.gc.ca/bnfts/rltd_...g.html#ntrtrll

[tjthemanto]

From the Canada Revenue Agency site:

http://www.cra-arc.gc.ca/bnfts/rltd_...g.html#ntrtrll

That and from 2015 they are going to give you the option of getting a lump sum or monthly payments, even if its higher than $ 360 ..should be in next years budget.

They aways used to give it as lump - sum before during CRA refund , but in the last 2-3 years , they started this whole OTB nonsense and monthly payments

Lot of low income peope and seniors opposed tht , so they are soon going back to the old ways.

[Ciel]

Yes, I spent the Ont. Sales Tax credit when it came as part of my CRA refund. Have worked rapidly through the lump sum. Had I learned about the lump sum prior to going to the bank, I would have done a couple of withdrawals over a week and tempered my "spree" intentions.

The problem with the monthly option last year was that my former bank account was fee based for every withdrawal. So if I did not wait three months to do a quarterly transaction, my bank collected $2 extra from me for not waiting as though the payments were quarterly.

Now I have a bank account with a set allowance of withdrawals in my monthly fee-however I went shopping and went beyond my set number so more money is due to the bank this month.