May 10 : OSTC to be deposited - Ontario Sales Tax Credit !!!

[tjthemanto]

OSTC to be deposited on May 10 ( Tuesday ) - If you qualify for it

[ssbean]

Woo hoo! Thanks for the reminder.

[Shwa Girl]

OSTC to be deposited on May 10 ( Tuesday ) - If you qualify for it

Please remind me - who qualifies? What is the minimum taxable income or maximum taxable income?
Thanks for the post!

[tjthemanto]

Please remind me - who qualifies? What is the minimum taxable income or maximum taxable income?
Thanks for the post!

How much will I receive?

The amount you receive is not subject to tax and depends on:

1. the size of your family
2. your adjusted family net income

If you are single and have adjusted family net income of over $20,000, the amount you receive will be reduced by four per cent of your income over $20,000.


Families (including single parents) with over $25,000 in adjusted family net income will see their payments reduced by four per cent of their income over $25,000.


This credit is in addition to the <a class="external" href="http://www.cra-arc.gc.ca/bnfts/gsthst/menu-eng.html"><acronym title="Goods and Services Tax">GST</acronym>/<acronym title="Harmonized Sales Tax">HST</acronym> credit program and the Ontario Sales Tax Transition Benefit (OSTTB).



So, the amount you receive has no impact on your <acronym title="Goods and Services Tax">GST</acronym>/<acronym title="Harmonized Sales Tax">HST</acronym> credit or <acronym title="Ontario Sales Tax Transition Benefit">OSTTB</acronym> payments and vice versa.
How do I apply?

You need to file your 2010 personal income tax return to get this money.
When will I receive my credit?

Payments are issued in August, November, February and May.



For example, if you file your 2010 personal income tax return on time (by April 30, 2011) and qualify for this credit, you will receive your payments in August 2011, November 2011, February 2012, and May 2012.

[Ciel]

For a low income single adult, basic amount is $65 per quarter. This credit replaces the OSTC that used to be on the pink sheet ($100 value for adults for years, not upped for inflation or what have you) for Ontario Tax credits in one's income tax return. At least you don't have to wait until next year to see the credit.

[tjthemanto]

Next week

[tjthemanto]

1 day left

[lucy16076]

Thanks for the reminder!!

[rebelinu]

My income tax has been e-filed but i havent recieved it yet, so i didn't recieve the payment today. Will they just give me this credit at the same time as my income tax?

[KellyC]

Our HST credit never came...so I suppose I don't qualify for this either

[rain4ever]

This would be the last payment from our 2009 taxes. The first payment from our 2010 taxes will be in August.

[tjthemanto]

This would be the last payment from our 2009 taxes. The first payment from our 2010 taxes will be in August.

True ..all the various credits like GST/HST , OSTC etc based on 2010 taxes will start from July - 2011 to June - 2012 .

There is one OSTTB ( diff. from OSTC ) coming in June - 2010 , this is third & final installment for OSTTB .

[rebelinu]

Thats strange because i recieved the last payment. hmm