Ontario Energy Tax Credit Calculator

Step 5 annual ontario energy and property tax credit.

Ontario energy tax credit calculator.

An energy component and a property tax component. 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. People can apply for the credit if eligible for either component. 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. If you will receive or have received a 2020 ontario senior homeowners property tax grant oshptg complete this step. Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. 2020 ontario energy and property tax credit oeptc calculation sheets your oeptc entitlement is calculated on a monthly basis.

Here s what you need to know when filing for tax years 2019 2020 and 2021. This is your annual energy and property tax credit unless step 5 applies. Ontario energy and property tax credit oeptc calculation sheets. Homeowners who made energy efficient improvements to their home can qualify for a federal tax credit but you must meet certain rules.

Otherwise divide the result of step 4 by 12 to calculate your monthly oeptc entitlement. The ontario trillium benefit otb is the combined payment of the ontario energy and property tax credit the northern ontario energy credit and the ontario sales tax credit. The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021. Claim the credits by filing form 5695 with your tax return.

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. This credit has two components. For the prior year calculation sheets go to ontario energy and property tax credit calculation sheets. 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.

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. 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. Federal income tax credits and other incentives for energy efficiency.