As the rollout of Ontario’s $200 rebate cheques ends and with some economists warning about a resurgence of inflation amid a trade war with the U.S., many Ontarians might be searching for new ways to stretch their budgets.
In an email to CTV News Toronto, the Ministry of Finance confirmed that “close to 99 per cent” of the rebates have now been mailed out.
The cheques were sent to every Ontarian who filed their taxes for 2023, regardless of income level.
But there are many other credits and government benefits that have more targeted eligibility .
Douglas Hoyes, a personal finance expert and CPA, told CTV News Toronto that failing to file your taxes could mean missing out on those benefits.
“If you don’t file, you don’t get your benefits, so file,” he wrote in an email to CTV News.
Hoyes advises Ontarians to create a CRA MyAccount to access all necessary tax slips.
Failure to pay off prior installments related to your taxes can accumulate interest and lead to a higher tax bill in the following year he adds.
Jessica Moorhouse, host of the More Money Podcast, agrees with Hoyer. She says that tax planning should begin before tax season to avoid missing potential savings.
“A common mistake is leaving everything till the last minute and not educating yourself about what new rebates, credits or deductions you’re eligible for,” she said in a statement.
She also highlights the importance of staying informed on new credits and deductions adding that AI tools can help individuals research and identify overlooked opportunities.
Here’s a breakdown of what other pay payments you may be eligible for.
Ontario’s $200 rebate
If you have not yet received the $200 Ontario rebate, you may be among the roughly one per cent of residents still waiting.
Earlier this year, the Ministry of Finance said the cheques are aimed to reduce financial strain “in the face of high interest rates and the federal carbon tax.”
Eligible recipients include adults who filed their 2023 income tax return by the end of December 2024.
Families with children under 18 who have applied for the Canada Child Benefit will receive an additional $200 per child. For instance, a family with two adults and three children would receive a total of $1,000 if eligible.
Ontarians can check their rebate status through the government’s online portal.
Carbon Tax Rebate
With Canada’s new Prime Minister Mark Carney officially taking office on Friday, one of his first moves is eliminating the federal carbon tax.
Speaking with reporters after a cabinet meeting Carney confirmed, “we will be eliminating the Canada fuel charge, the consumer fuel charge, immediately, immediately.”
However, the government assured that Canadians can expect their final rebate payment in April.
The carbon tax rebate is usually issued on the 15th of April, July, October, and January.
Ontarians can expect to receive a base quarterly amount of $140 for individuals, $70 for a spouse or common-law partner, $35 per child under 19, and $70 for the first child in a single-parent household.
Disability Tax Credit
The Disability Tax Credit (DTC) is designed to help individuals with physical or mental impairments and their supporting family members reduce their income tax burden.
The DTC is a tax credit rather than a monthly benefit, so there are no specific payment dates.
Officials say eligibility requires certification from a medical practitioner.
GST/HST Credit
The GST/HST credit is a tax-free quarterly payment designed to assist individuals and families with low or modest incomes in offsetting the sales tax they pay.
Eligibility is based on filing an income tax return.
The CRA typically issues payments on the fifth day of July, October, January, and April. If a payment does not arrive on the expected date, recipients are advised to wait 10 business days before contacting the CRA.
Residents can check their payment status by logging into their CRA My Account.
According to the website, officials add that individuals who recently turned 19 and have filed their first tax return will receive their payment on the next scheduled date after their birthday.
New residents of Canada must apply by completing Form RC151 and mailing it to their tax centre with proof of birth for any children they are registering.
Canada Child Benefit
The Canada Child Benefit is a tax-free monthly payment administered by the CRA to help families with the cost of raising children under 18 years old. Applicants must provide proof of birth when applying for the first time.
Payment dates are as follows: Jan. 20, Feb. 20, March 20, April 17, May 20, June 20, July 18, August 20, Sep. 19, Oct. 20, Nov. 20 and Dec. 12.
Officials say parents who share custody of their children will each receive 50 per cent of what they would have received if they had full custody.
The benefit amount is calculated based on adjusted family net income and is recalculated annually in July. For example, payments from July 2024 to June 2025 will be based on income from 2023.
Ontario Trillium Benefit
The Ontario Trillium Benefit combines three credits designed to help residents manage energy costs, sales tax, and property taxes.
These credits include the Northern Ontario Energy Credit, the Ontario Energy and Property Tax Credit, and the Ontario Sales Tax Credit.
To qualify, officials say that residents must be eligible for at least one of the three credits.
The Northern Ontario Energy Credit provides up to $180 for individuals and $277 for families.
The Ontario Energy and Property Tax Credit offers up to $1,248 for those aged 18 to 64, $1,421 for those 65 and older, and varying amounts for those in long-term care or student residences.
The Ontario Sales Tax Credit provides up to $360 per eligible individual, spouse, and dependent child.
Payments are usually made on the 10th of each month but if your entitlement is $360 or less “it will be issued in one lump-sum payment in the first payment month (usually July),” officials said.
Canada Workers Benefit
The Canada Workers Benefit is a refundable tax credit aimed at supporting low-income individuals and families.
For 2024, the maximum basic amount is $1,590 for single individuals and $2,739 for families.
The amount begins to phase out for those with higher adjusted net incomes. Single individuals earning over $36,749 and families earning over $48,093 will not receive the benefit.
Advanced payments are issued July 12, Oct. 11 and Jan. 10.
How to reduce your tax liability
Sean Cooper, a personal finance expert and mortgage broker, recommends several strategies for middle-income Ontarians looking to reduce their tax liabilities in 2025.
Contributing to a Registered Retirement Savings Plan (RRSP) can lower taxable income, with a contribution limit of 18 per cent of earned income from the previous year, up to $31,560, he said.
While Tax-Free Savings Account (TFSA) contributions are not tax-deductible, “investment income and withdrawals are tax-free,” he said, adding that with a contribution limit of $7,000 for 2025.
Cooper notes that other tax-saving opportunities include claiming the First-Time Home Buyers' Tax Credit, the Medical Expense Tax Credit, and the Charitable Donations Tax Credit.
Individuals receiving pension income can split up to 50 per cent with a spouse to reduce their tax burden.
