Ontario Energy Credit 2017

Step 5 annual ontario energy and property tax credit.

Ontario energy credit 2017.

Federal income tax credits and other incentives for energy efficiency. 2017 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis. Through the 2020 tax year the federal government offers the nonbusiness energy property credit. Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs.

An energy component and a property tax component. The non business energy property tax credits have been retroactively extended from 12 31 2017 through 12 31 2020 tax credit. We oversee how energy companies operate to ensure the public interest is served. If you will receive or have received a 2017 ontario senior homeowners property tax grant oshptg complete this step.

Tax credits for residential energy efficiency have now been extended retroactively through december 31 2020. As ontario s independent energy regulator we make decisions and rules to ensure that consumers are treated fairly and that the energy sector is reliable and sustainable. People can apply for the credit if eligible for either component. Use this calculation if you were 64 years of age or older and single on december 31 2016 and you do not have the care of a child under the age of 18 on the first day of the payment month.

Ontario trillium benefit otb 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 the annual otb entitlement is usually divided by 12 and the payments issued monthly. However for all the monthly payments from july 2017 to june 2018 you must use your marital status on december 31 2016. Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement. 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.

Claim the credits by filing form 5695 with your tax return. The same spouse or common law partner who applies for the 2020 ontario senior homeowners property tax grant by ticking box 61070 on form on ben and 2020 northern ontario energy credit by ticking box 61040 must claim the 2020 oeptc and you must provide your spouse s or common law partner s net income in the identification area on page 1. Help me understand my bill. 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.

This credit has two components. The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021.