What is Canada Pro Deposit? 2022 Amounts, Dates, Eligibility

Did you just receive a Canada PRO deposit in your bank account and it leaves you wondering what it means or who it came from? If that sounds like your situation, then this article is just right for you.

Canada PRO is a deposit made to qualified Ontario and Alberta residents. Depending on where you reside, receiving such a deposit means that you’re qualified for OTB or ACFB.

In this comprehensive Canada Pro Deposit Guide, I will provide information on all you need to know about the Canada Pro including the payment dates, the amount, eligibility, and more.

What is Canada PRO Deposit?

The Canada PRO deposit is a Child and Family Benefit Payment made by the Canada Revenue Agency (CRA) to eligible Ontario and Alberta residents.

If you live in Ontario, 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.

If you live in Alberta, Canada PRO goes by the name Alberta Child and Family Benefits (ACFB).

Related: Ontario Child Benefit 2022

Who is Eligible For Canada PRO Deposit?

You are eligible to receive the Canada PRO deposit 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 next section where I will discuss each of these credits extensively 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; and you need to qualify for either one of them 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 you paid a portion of the accommodation yourself.
• You lived in a designated private school, university, or college in Ontario.

To receive the benefit for a certain 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 a maximum of $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 living 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 you paid a portion of the accommodation yourself.
• You lived on a reserve in Northern Ontario, and you paid for your home energy costs

To receive the benefit for a certain 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 you are 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.

As a single individual with no children, you can receive up to a maximum of $162 annually.

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

3. Ontario Sales Tax Credit (OSTC)

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

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 it 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 generally your family size.

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

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

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, such that 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 it 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 the age of 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 amount of benefits for the above component reduces as the net income of a family exceeds $24,467 or $41,000 respectively.

How To Apply for Canada PRO Deposit

If you are a resident of Ontario, you are expected to apply for the 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 submit an application 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 The Canada PRO Deposit Paid in 2022?

The Canada PRO deposits can be paid out by cheque or through 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 deposits, 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 Deposit?

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

Well, that is very true. However, you can be smart about spending your Canada Pro Deposit 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, the Canada PRO deposit is an excellent supplement to your income, and it can be used to boost your investment and savings.

If you need more clarification on the Canada PRO deposit, do let me know in the comment section.

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 Payment?

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.

How is the Ontario Trillium Benefit Calculated?

Several factors are used to calculate your OTB amount. These refer to your:

• Income
• Age
• Family size
• Property tax or cost of rent
• Residence

Thus, the above factors will determine whether you get a low or high OTB payment.

How Much Ontario Trillium Benefit You Will Get?

Since OTB is a three-in-one benefit, how much you receive depends on the total amount you qualify for under OSTC, OEPTC and NOEC.

However, you can get a low or high OTB payment.