Ontario Energy Tax Credit Calculator

This credit has two components.

Ontario energy tax credit calculator.

This is your annual energy and property tax credit unless step 5 applies. 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. Claim the credits by filing form 5695 with your tax return. Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement.

If you will receive or have received a 2020 ontario senior homeowners property tax grant oshptg complete this step. Here s what you need to know when filing for tax years 2019 2020 and 2021. Federal income tax credits and other incentives for energy efficiency. 2020 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis.

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. Step 5 annual ontario energy and property tax credit. Through the 2020 tax year the federal government offers the nonbusiness energy property credit. The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021.

Certified roof products reflect more of the sun s rays which can lower roof surface temperature by up to 100f decreasing the amount of heat transferred into your home. This tax credit is for energy star certified metal and asphalt roofs with pigmented coatings or cooling granules designed to reduce heat gain. The annual otb entitlement is usually divided by 12 and the payments issued monthly. For the prior year calculation sheets go to ontario energy and property tax credit calculation sheets.

People can apply for the credit if eligible for either component. Homeowners who made energy efficient improvements to their home can qualify for a federal tax credit but you must meet certain rules. Ontario energy and property tax credit oeptc calculation sheets. An energy component and a property tax component.

However for all the monthly payments from july 2020 to june 2021 you must use your marital status on december 31 2019. 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. Tax credits for residential energy efficiency have now been extended retroactively through december 31 2020.