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.

Ontario energy tax credit calculator.

Federal income tax credits and other incentives for energy efficiency. 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. However for all the monthly payments from july 2020 to june 2021 you must use your marital status on december 31 2019. 2020 calculation sheets applied for on the 2019 income tax and benefit return 2019 calculation sheets applied for on the 2018 income tax and benefit return.

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

Through the 2020 tax year the federal government offers the nonbusiness energy property credit. This tax credit is for energy star certified metal and asphalt roofs with pigmented coatings or cooling granules designed to reduce heat gain. Step 5 annual ontario energy and property tax credit. 2020 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis.

An energy component and a property tax component. Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. Tax credits for residential energy efficiency have now been extended retroactively through december 31 2020. 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.

This credit has two components. Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement. The annual otb entitlement is usually divided by 12 and the payments issued monthly. Ontario energy and property tax credit oeptc calculation sheets.

This is your annual energy and property tax credit unless step 5 applies. The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021. 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.