Ontario Senior Homeowners' Property Tax Grant Calculator

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You could receive a

$777

Ontario Senior Homeowners' Property Tax Grant

Note: The grant amount cannot exceed the property tax paid in 2023.

What is the Ontario Senior Homeowners' Property Tax Grant (OSHPTG)?

The Ontario Senior Homeowners' Property Tax Grant is a subsidy for home owners. It is designed to assist low-to-moderate-income seniors with the cost of their Ontario property taxes. This grant provides up to $500 annually to eligible seniors, helping to alleviate some of the financial pressure of homeownership.

By reducing the burden of property taxes, seniors can allocate their resources toward other essential expenses, such as healthcare, home maintenance, and daily living costs.

How Much Can I Receive?

The Ontario Senior Homeowners' Property Tax Grant pays up to $500 annually to eligible seniors. The amount you receive from the OSHPTG depends on your adjusted family net income, which excludes any universal child care benefit (UCCB) and registered disability savings plan (RDSP) income received.

Ontario Senior Homeowners' Property Tax Grant Amount 2024

The grant is reduced by 3.33% of your income over a certain income limit.

For Singles, Divorced, or Widowed Seniors:

• If your income exceeds $35,000, your grant will be reduced by 3.33% of your income over $35,000.

For Married or Common-Law Couples:

• If your combined income exceeds $45,000, your grant will be reduced by 3.33% of your income over $45,000. Only one person per couple can receive this grant.

Eligibility Criteria for OSHPTG

To qualify for the OSHPTG, you or your spouse/common-law partner must meet the following criteria as of December 31 of the previous year:

Age Requirement:

• You must be 64 years of age or older.

Homeownership:

• You must own and occupy your principal residence in Ontario.

Residency:

• You must be a resident of Ontario.

Income:

• If single, divorced, or widowed, your earnings must be less than $50,000.
• If married or living as a common-law, the combined income of you and your spouse/common-law partner must be less than $60,000.

Ontario Senior Homeowners' Property Tax Grant Income Limits 2024

How to Apply for the Ontario Senior Homeowners' Property Tax Grant

When you file your income taxes, you will apply for the Ontario Senior Homeowners' Property Tax Grant. You’ll need to apply each year to receive the grant. Even if you don't owe income tax, filing is necessary to qualify for the grant.

Here's a step-by-step guide to apply:

1. Complete the ON-BEN Application Form: This form is part of your general income tax and benefit return. It includes the “Application for the 2024 Ontario Trillium Benefit and Ontario Senior Homeowners' Property Tax Grant” form.
2. Report Property Tax Paid: Fill in the amount of property tax you paid on line 61120 on the ON-BEN application. This may include both municipal and education property taxes.
3. Submit Your Return: File the ON-BEN application form and your completed tax return.

How Do I Receive the Ontario Senior Homeowners' Property Tax Grant Payment?

The grant is paid four to eight weeks after you receive your notice of assessment (NOA) from the Canada Revenue Agency (CRA), paid out in the same method as you have instructed to receive your income tax refund or other benefits. This may be by direct deposit to your bank account or by cheque.

Comparing Ontario Senior Homeowners' Property Tax Grant (OSHPTG) with Other Programs

Federal Programs

• Old Age Security (OAS): A federal benefit providing a monthly payment to seniors aged 65 and older.
• Guaranteed Income Supplement (GIS): A federal supplement for low-income seniors receiving OAS designed to provide additional financial support.

Provincial Programs

Ontario

• Ontario Guaranteed Annual Income System (GAINS): Up to $87 per month for single seniors and $174 per month for couples.

Alberta

• Alberta Seniors Benefit: This program provides up to $3,792 per year for single seniors and $5,687 for senior couples, as well as a supplement for those living in a continuing care home.

British Columbia

• BC Senior's Supplement: This supplement provides up to $99.30 per month for single seniors and up to $110.25 per month for couples.
• BC Home Owner Grant for Seniors: Assists senior residents in reducing their property tax with an annual payment of up to $1,045.

Quebec

• Quebec Senior Assistance Tax Credit: Single seniors are eligible for up to $2,000 refundable tax credit, while couples over 70 can receive up to $4,000 refundable tax credit.

Manitoba

• Manitoba 55 PLUS Program: This program offers quarterly benefits of up to $161.80 for single seniors and $173.90 for couples, depending on their income level. It is for low-income seniors aged 55 and over.

Frequently Asked Questions (FAQ)

What is the maximum amount I can receive from the OSHPTG?

The maximum amount you can receive is $500 annually. You can’t receive a grant larger than the property tax paid.

Can I apply for the OSHPTG if I live in a condo?

Yes, as long as the condo is your principal residence and you meet all other eligibility criteria.

How will I receive the OSHPTG payment?

Payments are usually issued as cheques or direct deposits, depending on how you receive your income tax refund or other benefits.

Is the OSHPTG available to all seniors in Ontario?

The grant is available to seniors who meet the eligibility criteria, including age, homeownership, and residency requirements.

Do I need to pay tax on my OSHPTG payment?

No, the OSHPTG is a non-taxable benefit.