Canada Pro Deposit 2022 – Canada Pro/OTB Payments Explained

Are you wondering what the Canada pro deposit in your bank account means? Well, you are not alone. In this comprehensive guide, I explain what Canada pro payment means, its eligibility criteria, and more.

This guide results from hours of thorough internet research and brainstorming sessions with industry experts to bring you the most comprehensive and detailed guide on Canada pro.

If you have any questions or feedback regarding this article, please feel free to share them with me in the comment section of this post.

What is the Canada Pro?

The Canada Pro is an Ontario Trillion Benefits payment comprising the sales tax credit, property tax credit, and energy credit for eligible residents of Ontario.

If you live in Ontario, the Canada pro goes by the name Ontario Trillium Benefits (OTB), which by itself is a combination of three benefits:

• Ontario Energy and Property Tax Credit
• Northern Ontario Energy Credit
• Ontario Sales Tax Credit

These benefits help eligible Ontario residents with modest incomes pay for energy costs, sales taxes, and property taxes.

Related: Ontario Child Benefit 2022

Who is Eligible For Canada Pro Payment?

You are eligible to receive the Canada pro payment if you are a resident of Ontario or Alberta and if you qualify for at least one of the following tax credits:

• Ontario Energy and Property Tax Credit (OEPTC)
• Northern Ontario Energy Credit (NOEC)
• Ontario Sales Tax Credit (OSTC)

OR

• Alberta Child and Family Benefits (ACFB).

Not sure which one you are eligible for? Read the following section, where I will discuss these credits, including their requirements and the maximum amounts you can receive.

1. Ontario Energy and Property Tax Credit (OEPTC)

The OEPTC is a benefit paid to low-to-moderate-income Ontario residents to offset energy and property sales taxes.

The OEPTC consists of two components: energy component and property component; you need to qualify for either one to get paid.

You may qualify for the OEPTC in 2022 if you meet one of the following requirements:

• You were a resident of Ontario as of December 31, 2021
• You are at least 18 years of age
• You currently are (or previously were) married or in a common-law relationship
• You are a parent who lives or previously lived with your child

And if in 2021,

• You rented or paid property taxes for your principal residence
• You lived on a reserve in Ontario, and you paid for your home energy costs (e.g. electricity, heat)
• You lived in a public or non-profit long-term care home in Ontario and paid a portion of the accommodation.
• You lived in Ontario’s designated private school, university, or college.

To receive the benefit for a particular month, you must be a resident of Ontario at the beginning of that month.

You are not eligible to receive OEPTC if you are imprisoned for 90 days or more.

How Much OEPTC Could You Receive?

The amount you will receive in NOEC depends on your age, marital status, the value of the property taxes you have paid or that have been paid on your behalf if you are a renter, the energy costs you have paid if you are on a reserve, and your adjusted family net income.

As a senior Ontario resident, you can receive up to $249 for the energy component, plus another $872 for the property tax component, which adds up to $1,121 annually.

Also, as a non-senior Ontario resident, you can receive up to a maximum of $249 for the energy component, plus another $1,028 for the property tax component, which adds up to $1,277 annually.

2. The Northern Ontario Energy Credit (NOEC)

The NOEC is a relief benefit paid to low-to-moderate-income Northern Ontario residents to offset the higher home energy costs they pay in the north.

To qualify for the NOEC, you must reside in the districts of Algoma, Cochrane, Kenora, Manitoulin, Nipissing, Parry Sound, Rainy River, Sudbury (including the City of Greater Sudbury), Timiskaming, and Thunder Bay.

You may qualify for the NOEC in 2022 if you meet one of the following requirements:

• You were a resident of the previously listed districts as of December 31, 2021
• You are at least 18 years of age
• You currently are (or previously were) married or in a common-law relationship
• You are a parent who lives or previously lived with your child

And if in 2021,

• You rented or paid property taxes in the eligible Northern Ontario districts.
• You lived in a public or non-profit long-term care home in Northern Ontario and paid a portion of the accommodation.
• You lived on a reserve in Northern Ontario and paid for home energy costs.

To receive the benefit for a specific month, you must be a resident of the eligible Northern Ontario districts at the beginning of that month.

You are not eligible to receive NOEC if imprisoned for 90 days or more.

How Much NOEC Could You Receive?

The amount you will receive in NOEC depends on your marital status, your adjusted family net income, and whether or not you have children.

You can receive up to $162 annually as a single individual with no children.

As a couple or single parent with children, you can receive up to $249 annually.

3. Ontario Sales Tax Credit (OSTC)

The OSTC is a relief benefit paid to Ontario residents with a modest income to offset their sales and services taxes.

To qualify for the OSTC, you must be a resident of Ontario, and you must also meet at least one of the following requirements:

• You are at least 19 years of age
• You currently are (or previously were) married or in a common-law relationship
• You are a parent who lives or previously lived with your child

The OSTC benefit is very similar to the federal GST/HST benefit and requires no application. You are only required to file your income tax return to determine your eligibility, and you will receive a notice from the CRA if you are eligible.

How Much OSTC Could You Receive?

The amount you will receive in OSTC depends on your marital status, whether or not you have children and your family size.

Also, the amount of OSTC benefits you will receive depends on your adjusted family net income, such that the more you earn, the less OSTC benefit you’ll qualify for.

Generally, OSTC provides up to a maximum of $324 annually for each family member.

4. Alberta Child and Family Benefit (ACFB)

The ACFB is a benefit paid to Alberta families that has children under the age of 18 years to supplement the cost of raising their children.

It was introduced in 2020 to replace the Alberta Child Benefit (ACB) and the Alberta Family Employment Tax Credit (AFETC).

ACFB is income-tested, so low-to-moderate income Albertans get more ACFB benefits, and high-income earners will typically not qualify.

To qualify for the ACFB, you must meet the following requirements:

• You are a resident of Alberta 
• You are a parent of one or more children under the age of 18
• You have filed an income tax return
• You must meet the income criteria i.e. earning a modest income

The ACFB benefit is very similar to the federal CCB benefit and requires no application. You are only required to file your income tax return to determine your eligibility, and you will receive a notice from the CRA if you are eligible.

How Much ACFB Could You Receive?

How much ACFB you’ll get depends on two significant factors: your family income and the number of children you have under 18.

Furthermore, the ACFB has two components to accommodate families of different income levels.

• Base component: This component caters to families with little or no employment income.
• Working component: This component caters to families with more than $2,760 in employment income.

The table below displays the maximum ACFB benefit for families under the base and working components.

Note: The benefits for the above component reduce as a family’s net income exceeds $24,467 or $41,000, respectively.

How To Apply for Canada Pro

If you are a resident of Ontario, you are expected to apply for Canada pro (a.ka OTB) when you file your annual income tax return.

All you have to do is to fill out the ON-BEN Application form and attach it to your income tax return.

On the other hand, if you are a resident of Alberta, you do not need to apply at all. Just file your annual income tax return, and you will be automatically considered for this benefit.

Thus, CRA automatically handles that based on your previous tax return.

When is Canada Pro Paid in 2022?

The Canada pro can be paid out by cheque or direct bank deposit as a single lump payment in July 2022 if your benefit is less than $360.

However, if you qualify for over $360, you can elect to collect it monthly or quarterly, depending on your province of residence and the underlying credit. Below are the Canada pro deposit dates for 2022:

Note: If you haven’t received your Canada pro, wait for five business days, then contact the Canada Revenue Agency (CRA) at 1-800-959-8281.

What Should I Do With The Canada Pro?

The Canada pro in your bank may feel like some free cash, and you may feel free to use it the way you like.

Well, that is very true. However, you can be smart about spending your Canada pro by investing it in things that can help your finances long-term.

However, depending on your situation and financial goals, consider the following options when spending your Canada pro deposit:

• You can use it to pay down your debts and credit card balance
• You can use it to build an emergency fund
• You can invest it in your retirement account
• You can use it to pay your life insurance premium
• You can invest it into your child’s RESP
• You can save it up for a down payment for your mortgage

So by investing your money in the above options, you will make the most of your Canada pro deposit.

In closing, Canada pro is an excellent supplement to your income and can be used to boost your investment and savings.

Canada Pro Deposit FAQs

Is Canada Pro Taxable?

No. Canada pro is not taxable. Therefore, you shouldn’t include the payment in your income tax return.

How often is Canada Pro Paid?

Canada pro is paid monthly, quarterly, or annually. Ontario Trillium Benefit beneficiaries can receive monthly or one lump-sum annual payment.

On the other hand, Alberta Child and Family Benefit (ACFB) beneficiaries receive quarterly payments.

Where Can I Get More Details on the Canada Pro?

To get more details on the Canada pro payment, log in to your CRA My Account or call the CRA at 1-800-959-8281.

What is Canada Pro Payment?

Canada pro payment is a monthly/annual benefit given to eligible Ontario and Alberta residents with low-moderate-income levels.

What to Do if You Receive the Canada Pro Deposit?

It is always a great idea to confirm why you have received the Canada pro deposit before you spend it.

But how do you confirm the Canada pro deposit?

All you need is to log in to your CRA My Account to view all your entitled benefits.

Moreover, If you’re unsure of anything or need help, don’t hesitate to call the CRA at 1-800-959-8281.

Who is Eligible for Canada Pro?

Ontario residents who qualify for one of the Ontario Trillium Benefit (OTB) components are eligible for the Canada pro deposit.

Also, Alberta residents who qualify for the Alberta Child and Family Benefit (AFCB) are eligible for the Canada pro deposit.