The Canada PRO Deposit is a tax-free benefit distributed by the Canada Revenue Agency (CRA) to eligible residents of Ontario and Alberta.
It is tied to provincial programs such as the Ontario Trillium Benefit (OTB) and the Alberta Child and Family Benefit (ACFB), providing financial aid to individuals and families to help cover living costs, property taxes, energy expenses, and child-related expenses.
Here’s everything you need to know about the Canada PRO Deposit, including eligibility, application details, and payment schedules for 2024.
What Is the Canada PRO Deposit?
The Canada PRO Deposit is designed to deliver financial support through programs tailored to residents of Ontario and Alberta:
- Ontario Trillium Benefit (OTB): Combines tax credits for sales tax, energy, and property tax assistance.
- Alberta Child and Family Benefit (ACFB): Offers financial aid to low- and moderate-income families with children under 18.
Eligibility Criteria
Ontario Trillium Benefit (OTB)
To qualify for the OTB, you must:
- Be a resident of Ontario.
- Be 18 or older, or living with a spouse or child.
- Have paid rent or property taxes in Ontario, or lived in a long-term care home.
- File an income tax return and complete the ON-BEN Application Form.
Alberta Child and Family Benefit (ACFB)
To qualify for the ACFB, you must:
- Be a resident of Alberta.
- Have children under 18 years old.
- File an income tax return; eligibility is based on your family’s income.
Payment Dates for 2024
Ontario Trillium Benefit (OTB)
OTB payments are made monthly on the 10th. Here’s the 2024 schedule:
| Month | Payment Date |
|---|---|
| January | January 10, 2024 |
| February | February 9, 2024 |
| March | March 8, 2024 |
| April | April 10, 2024 |
| May | May 10, 2024 |
| June | June 10, 2024 |
| July | July 10, 2024 |
| August | August 9, 2024 |
| September | September 10, 2024 |
| October | October 10, 2024 |
| November | November 8, 2024 |
| December | December 10, 2024 |
If your OTB benefit is less than $360 annually, you’ll receive it as a lump sum in July.
Alberta Child and Family Benefit (ACFB)
ACFB payments are issued quarterly. The 2024 payment dates are:
| Quarter | Payment Date |
|---|---|
| Q1 | February 27, 2024 |
| Q2 | May 27, 2024 |
| Q3 | August 27, 2024 |
| Q4 | November 27, 2024 |
How Much Can You Receive?
Ontario Trillium Benefit (OTB)
The OTB combines three credits:
| Credit | Maximum Amount |
|---|---|
| Ontario Energy and Property Tax Credit (OEPTC) | Up to $1,194 (non-seniors), $1,360 (seniors) |
| Ontario Sales Tax Credit (OSTC) | Up to $345 per person |
| Northern Ontario Energy Credit (NOEC) | Up to $265 for families |
Your total benefit depends on your income, family size, and whether you qualify for specific credits.
Alberta Child and Family Benefit (ACFB)
The ACFB includes two components:
| Number of Children | Base Amount | Working Component |
|---|---|---|
| 1 child | Up to $1,410 | Up to $681 |
| 4+ children | Up to $3,525 | Up to $1,902 |
Both components are income-tested, so higher earners receive reduced amounts.
How to Apply for Canada PRO
There’s no separate application for Canada PRO benefits. Filing your annual income tax return is the key to qualifying:
- Ontario Residents
- File the ON-BEN Application Form along with your tax return to apply for the OTB.
- Alberta Residents
- Simply file your tax return. CRA automatically calculates your eligibility for the ACFB based on your income.
Key Takeaways
The Canada PRO Deposit offers financial relief for residents of Ontario and Alberta. Whether you’re paying property taxes in Ontario or raising children in Alberta, these tax-free benefits ensure you have additional support to meet living expenses.
Stay on top of your tax filings to maximize your entitlement and benefit from timely payments.
