OTB Payment Dates 2024

The eligible residents of Ontario will receive financial assistance from the government of Ontario to cover their living expenses. People who are looking forward to the payment or want to apply for this financial assistance program can read the article below to know all the details of the program.

The OTB payments are the combined pay of the Ontario Sales tax credit, Ontario Energy and property tax credit, and the Northern Ontario Energy Credit. The taxpayers will receive the annual OTB payment divided by 12.

The amount will be credited to your account on the 10th of each month. If there is a public holiday or non-working day, the payment will be credited to your account on the working day before the 10th day of the month.

The OTB payments scheduled for 2024 are as follows:

10 Jan 2024
9 Feb 2024
8 March 2024
10 April 2024
10 May 2024
10 June 2024
10 July 2024
9 August 2024
10 September 2024
10 October 2024
8 November 2024
10 December 2024

The taxpayers can mark these dates on their calendars and plan their financial goals and expenses accordingly. Remember, the OTB payment you will receive for this year which is based on your returns of the last year, and the benefits returns of 2023 will be processed from June 2024 to June 2025.

GST Payments Dates 2024

Who qualifies for the OTB benefits?

As mentioned earlier, the OTB payments are combined credits of the Ontario Sales tax credit, Ontario Energy and property tax credit, and the Northern Ontario Energy Credit, so the person needs to meet the eligibility of at least one of the credits mentioned above.

You must be a resident of Ontario, Canada on 31 Dec 2023 to receive the OTB benefits.
The age limit for the OTB benefits is 18 years or older.
You are married or previously married or have a common-law partner.
You have a child who lives with you or has previously lived with you.
You have paid the rent or property tax for your prime residence in Ontario for the 2023 year.
You have paid for the 2023 accommodation for living in a public or non-profit long-term care home in Ontario.
You have paid the 2023 home energy costs for your residence on a reserve in Ontario.
You are an Ontario resident, earn a low-to-moderate income, and pay the sales tax.

The eligibility for OTB payments depends on where you have lived on the first day of each month and covers your cost of living.

How much payment can you expect from the OTB financial assistance program?

The OTB payment amounts for each benefit are as follows:

For Northern Ontario Energy Credit:

Your Status	Payment
Single	$180 max
Families	$277

For Ontario Energy and property tax credit,

Your age and living conditions	Payment
Between 18 and 64 years old	$1,248 max
65 years or older	$1,421 max
Live on Reserve or Public long-term care home	$277 max
College, University, or Private school	$25 max

For Ontario Sales tax credit:

The eligible candidates can receive credits up to $360 for:

spouse or common-law partner
Dependent child of age under 19 years on the first of the payment month.

Payment Distribution of the OTB 2024

If your OTB combined payment gets more than $360 for 2024, you will get a choice to get monthly payments from July 2024 or a single payment in June 2025.
If your OTB payment is $360 or less, you are entitled to receive a single payment in July 2024.
If you qualify for the OTB payment of more than $2 but less than $10, your OTB pay will hike to $10.
If you qualify for the $2 or less, you are not entitled to receive the payment.

How to apply for OTB financial assistance?

To get the OTB benefits, you must follow the below instructions:

You must file your 2023 income tax return and benefit return, even if you have no income to report.
Fill out the Form ON-BEN for 2024 applications for OTB and Ontario Senior Homeowners Property tax Grant.

The taxpayers who file their tax and benefit returns with the ON-BEN application form are automatically considered for the OTB program by the CRA. The CRA will notify you if you are eligible to receive the OTB payments.

The OTB financial assistance program is issued by the CRA on behalf of the Ontario Provisional government, so if you have filed for 2023 income and benefit returns and come under the eligible candidates then you will surely receive your OTB payments for 2024.

OTB Payment Dates 2024 – Who will get it, how much and when?