It’s almost tax time again! For low-income Ontarians, filing your income tax return is important as you may be able to benefit from tax credits that will either increase your income or reduce the amount of taxes you have to pay.
Even if you don’t owe any money, you can get refundable credits that will increase your income.
This year, a new federal tax credit is available. The Climate Action Incentive (CAI) is a credit that goes to individuals and families in Ontario, Saskatchewan, Manitoba and New Brunswick.
Ontarians can receive:
- $154 for a single adult or the first adult in a couple
- $77 for the second adult in a couple (single parents will receive this amount for their first child)
- $38 for each child in the family (starting with the second child for single parents).
People living in small and rural communities can also claim a 10% supplement.
To claim the CAI, you have to complete Schedule 14 of the income tax package and include it when you file your tax return.
- NOTE: We have not yet had confirmation about whether or not the Ministry of Children, Community and Social Services (MCCSS) will change Ontario Works (OW) and Ontario Disability Support Program (ODSP) rules to exempt the Climate Action Incentive from OW or ODSP benefits.
- If MCCSS does not change the rules, this tax credit will be deducted from OW and ODSP benefits.
Remember that you need to file your income tax return by April 30, 2019.