Updated on January 22, 2024
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Trillium Payment Dates 2024
The Trillium benefit amount is a program in Ontario designed to help low and moderate-income families cover energy and tax costs. Trillium Payment Dates in 2024 usually fall on the tenth day of each month, unless it lands on a weekend or legislative holiday. In such cases, the last business day before the tenth becomes the OTB payment date.
The upcoming Trillium benefit installments are expected on October 10, November 10, and December 8, 2023. You can choose to receive your OTB payment through direct deposit or by check for a swift and punctual distribution of the benefit amount. For more information on Trillium Payment Dates in 2024 and related details, you can explore the content of this article.
What is Trillium Payment 2024?
The Ontario Trillium Benefit (OTB) stands out as a key benefit program open to residents of Ontario, offering monthly payments from the provincial government. Geared towards aiding low to moderate-income households, the OTB helps cover taxes and energy costs in Ontario. To avail of this benefit, an application is necessary, emphasizing that it’s not a personal loan but rather a support initiative.
The Ontario Trillium Benefit consolidates various credits, including energy, sales tax, and property tax credits. This comprehensive benefit aims to cover energy expenses, certain property taxes, and provide exemptions for sales tax. Families stand to receive a maximum of $265, while individuals can receive up to $172 through this program.
Trillium Payment Dates Overview 2024
|Trillium Payment Dates 2024
|Canada Revenue Agency
|To provide medium-low income families cover their taxes.
|Triilium Payment Dates
|10th of every month in a FY
|CRA Online Portal
Trillium Payment Amount 2024
For the 2023/2024 period, the combined maximum for both adults and children under the Ontario Sales Tax Credit (OSTC) is $345. The benefit amount is reduced by 4% of your adjusted household net income, with the threshold set at $26,535 for single adults without children and $33,169 for parents.
To determine the potential maximum credit you may receive, refer to the table below, which outlines the criteria for eligibility and corresponding amounts.
|Maximum Trillium Credit Amount
|18-64 years old
|Living in a Public Long-term care home
|Students living in designated academic institutions
You can use your Ontario Trillium Benefit (OTB) to clear any outstanding debt you may have with the Canada Revenue Agency (CRA) for overdue taxes or other benefits. If there’s any remaining amount after settling the debt, it will be issued to you.
Trillium Payment Lump Sum 2024
The benefit year is determined by the data from your previous year’s personal income tax return and spans from July of one year to June 30 of the following year for recipients of the three tax credits integrated into the Ontario Trillium Benefit. If your payment is below $360, you’ll receive the total amount in July.
For amounts exceeding $360, you have the option to receive monthly OTB payments or opt for a single lump-sum payment at the end of the OTB payment period. Instead of receiving the benefit in 12 monthly installments, you can choose to receive one substantial payment. This request must be submitted by December 23, 2023.
Trillium Payment Payment Schedule 2024
Trillium Payments are distributed on the 10th day of each month, spanning from July to June of the subsequent year. It is crucial for prospective beneficiaries to ensure timely filing of their taxes in order to avail themselves of the benefits offered by the scheme.
To view the entire Trillium Payment Schedule for the remaining duration of 2023-24 payments, please refer to the table below: