Property Tax Credit

The property tax credit helps people in Ontario with low to moderate incomes pay for housing costs. Ontario funds the credit, and the Canada Revenue Agency administers the program through the federal income tax system.

You can claim the credit for any year if for that year all of the following conditions apply:

• you were a resident of Ontario on December 31
• you or someone paid your rent or property tax on a principal residence in Ontario
• you were 16 years of age or older on December 31.

You cannot claim this credit if on December 31, you were under 19 and you lived with someone who received a Canada Child Tax Benefit payment for you in the year.

You claim the property and sales tax credits together on Form ON479, Ontario Credits when you file your income tax return.

To learn more, read the Property and Sales Tax Credits Information Bulletin.

The amount you receive depends on your age and income. The maximum for both the property and sales tax credits in any one taxation year is $1,125. Both credits can be received even if you pay no income tax.

Important note for senior couples: The income threshold for claiming the property and sales tax credits for senior couples has increased. For 2008, the threshold is $24,300. Now, seniors can claim the full amount of the credit if they receive the minimum level of income under the following programs:

• Old Age Security (OAS)
• Guaranteed Income Supplement (GIS)
• Ontario Guaranteed Annual Income System (GAINS)

• Complete Form ON479, Ontario Credits included with your federal income tax and benefit package.
• Attach a copy of Form ON479, Ontario Credits to your income tax return and send it to the Canada Revenue Agency.