Ontario Energy Tax Credit Calculator

An energy component and a property tax component.

Ontario energy tax credit calculator. The tax credit for builders of energy efficient homes and tax deductions for energy efficient commercial buildings have also been retroactively extended through december 31 2020. Homeowners who made energy efficient improvements to their home can qualify for a federal tax credit but you must meet certain rules. If you will receive or have received a 2020 ontario senior homeowners property tax grant oshptg complete this step. 2020 calculation sheets applied for on the 2019 income tax and benefit return 2019 calculation sheets applied for on the 2018 income tax and benefit return.

Ontario energy and property tax credit oeptc calculation sheets. The annual otb entitlement is usually divided by 12 and the payments issued monthly. Here s what you need to know when filing for tax years 2019 2020 and 2021. Step 5 annual ontario energy and property tax credit.

For the prior year calculation sheets go to ontario energy and property tax credit calculation sheets. Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement. The ontario energy and property tax credit is a personal tax credit that was implemented to help low to moderate income individuals with property taxes and the sales tax on energy. People can apply for the credit if eligible for either component.

Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. Claim the credits by filing form 5695 with your tax return. However for all the monthly payments from july 2020 to june 2021 you must use your marital status on december 31 2019. 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.

If you would like to calculate your 2020 payment see the 2020 ontario energy and property tax credit calculation sheets or use our on line child and family benefits calculator. This credit has two components. 2020 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis. Tax credits for residential energy efficiency have now been extended retroactively through december 31 2020.

Federal income tax credits and other incentives for energy efficiency. Through the 2020 tax year the federal government offers the nonbusiness energy property credit. This is your annual energy and property tax credit unless step 5 applies.