As a result of this change, taxpayers who are accustomed to receiving these refunds on filing their tax returns may be surprised when they learn that they won't be getting the expected tax refunds on their 2011 personal tax returns.
The Ontario Trillium Benefit combines the following credits into a monthly payout for eligible taxpayers:
- The Ontario Sales Tax Credit
- Ontario Energy and Property Tax Credit
- Northern Ontario Energy Credit.
To receive the Ontario Trillium Benefit, taxpayers that are eligible for at least one of these credits must file Ontario Form ON-BEN, which is included with the 2011 T1 General Income Tax and Benefit Return package.
For more information, contact your KPMG adviser.