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Ontario 'taxpayer rebate' to be issued in new year, to cost $3 billion

Posted October 29, 2024

 

The provincial government confirmed this morning it will be sending out a minimum $200 "taxpayer rebate" to all eligible Ontario residents "early in 2025" at a cost of $3 billion.

 

Families who qualify for the Canada Child Benefit will receive an additional $200 for each eligible child.

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  • Those eligible for the tax-free taxpayer rebate must be 18 years or older at the end of 2023; be a resident in Ontario on December 31, 2023; have filed their 2023 Income Tax and Benefit Return by December 31, 2024; and not be bankrupt or incarcerated in 2024.

  • The taxpayer rebate payment for children would be made to the person(s) who receives the CCB in respect of the child, who must be a resident of Ontario. In the case of a shared custody arrangement in respect of a child, payments would be split based on the most recent CCB available.

  • For families with children who did not receive the CCB for 2024, the government would provide an opportunity for a taxpayer rebate payment of $200 per child through an alternative process.​

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"The government is able to provide taxpayers with this relief because of higher-than-expected revenues as a result of the impact of inflation on provincial sales tax revenues and the impact of recent changes to the federal government’s capital gains tax," according to the press release.

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