Ontario Energy Tax Credit Calculator

The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021.

Ontario energy tax credit calculator.

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. This credit has two components. 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. Tax credits for residential energy efficiency have now been extended retroactively through december 31 2020.

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. 2020 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis. Step 5 annual ontario energy and property tax credit.

Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement. However for all the monthly payments from july 2020 to june 2021 you must use your marital status on december 31 2019. This is your annual energy and property tax credit unless step 5 applies. The annual otb entitlement is usually divided by 12 and the payments issued monthly.

An energy component and a property tax component. The tax credit for builders of energy efficient homes and tax deductions for energy efficient commercial buildings have also been retroactively extended through december 31 2020. 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.

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. If you will receive or have received a 2020 ontario senior homeowners property tax grant oshptg complete this step. Claim the credits by filing form 5695 with your tax return. Here s what you need to know when filing for tax years 2019 2020 and 2021.

If you would like to calculate your 2020 payment see the 2020 ontario energy and property tax credit calculation sheets or use our on line child and family benefits calculator. Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. Federal income tax credits and other incentives for energy efficiency.