Property Tax Credit
The Ontario property tax credit provides property tax relief to low- to middle-income homeowners and tenants. Ontario funds the credit, and the Canada Revenue Agency administers the program through the personal income tax system.
For 2009
Can I claim the property tax credit?
You can claim the credit if all of the following conditions apply:
you were a resident of Ontario on December 31, 2009
you (or someone else) paid your rent or property tax on your principal residence in Ontario for 2009
you were 16 years of age or older on December 31, 2009
You cannot claim this credit for 2009 if on December 31, 2009 you were under 19 years of age and you lived with someone who received a Canada Child Tax Benefit payment for you in the year or claimed you as a wholly dependent person.
How much does the credit pay?
The credit is based on occupancy cost – that is, property tax paid or 20 per cent of rent paid for the year. Non-seniors can claim up to $250 plus 10 per cent of occupancy cost and seniors can claim up to $625 plus 10 per cent of occupancy cost.
The amount you receive depends on your age and income. The maximum for the combined Ontario Property and Sales Tax Credits is $1,000 for non-seniors and $1,125 for seniors. Both credits can be received even if you pay no income tax.