ON–Budget proposes energy and property tax credit

A proposal announced in the recent Ontario budget will see the current Ontario Property Tax Credit converted, for the 2010 and subsequent tax years, to the Ontario Energy and Property Tax Credit. In the first year of implementation, the credit would be paid after taxpayers file their 2010 tax returns in 2011. Thereafter, the credit would be paid on a quarterly basis.

The Ontario 2010-11 budget papers can be found on the Ontario Finance Web site at http://www.fin.gov.on.ca/en/budget/ontariobudgets/2010/index.html.




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