Ontario is home to 40 per cent of Canada's seniors' population or about 1.5 million residents who are 65 years of age and over. The number of seniors in Ontario is expected to increase even more rapidly when baby boomers turn 65. It is estimated that by 2041, a quarter of Ontario's population will be older than 65 years of age.
The HST is now in effect in Ontario. The 13% HST combines the 5% GST and the 8% PST into one tax and is collected by the federal government.
Books, children's clothing and footwear, car seats and car booster seats, feminine hygiene products, qualifying prepared food and beverages sold for $4.00 or less and print newspapers are exempt from the Ontario portion (eight per cent) of the HST.
Also, both the Ontario Energy and Property Tax Credit and Ontario Sales Tax Credit were enhanced in 2010 to better reflect circumstances facing low-income seniors. Senior couples receiving the guaranteed minimum level of income from governments can receive the full benefit of these credits.
And, Ontario doubled the Senior Homeowners' Property Tax Grant for 2010 and subsequent years to a maximum of $500.
You Asked
- Do I have to file an income tax return?
- Where can I go for help to complete my income tax and benefit return?
Programs of Interest
- Canada Pension Plan (CPP) Retirement Pension
- Estate Administration Tax
- Old Age Security Pension
- Ontario Energy and Property Tax Credit
- Ontario Guaranteed Annual Income System
- Political Contribution Tax Credit
- Registered Retirement Savings Plan
- Ontario Sales Tax Credit
- Senior Homeowners' Property Tax Grant
