6 Ontario Tax Credits You Need To Know About If You Want To Get Cash Back This Year

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Queen's Park covered in snow. Right: A Canadian tax form

Queen's Park covered in snow. Right: A Canadian tax form

Tax season has arrived in Ontario, and while shuffling through piles of crumpled receipts can suck, there are some personal tax credits you'll definitely want to know about — and they could actually get you some cash back this year.

Since the usual deadline to file your Ontario income tax falls on a Sunday, you'll have until May 1 to get yours in — but it's always better to avoid procrastinating if you can.

So take note of these credits and start planning — because with a recession looming and interest rates rising, we're all going to need a bit more cash on hand this year.

Ontario Staycation Tax Credit

Ontarians can claim 20% of eligible accommodation expenses that occurred in Ontario during 2022, including hotel stays and cottage or campground visits. So if you booked a weekend camping trip, rented a cottage, or stayed at a nice hotel in Ontario at some point last year, you can claim a pretty good chunk of the money you spent.

Individuals can write off up to $1,000 in expenses, while families and couples can claim up to $2,000.

How to qualify: The tax credit applies to leisure stays between January 1, 2022, and December 31, 2022, regardless of the timing of payment.

2022 is the last year Ontario residents will be able to claim this credit, so make sure you take advantage of it!

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Ontario Energy and Property Tax Credit

Are you between the ages of 18 and 64 years old? Congrats! You just qualified to get as much as $1,194 back.

Individuals older than 65 can get $1,360, and those living on a reserve or in a public long-term care home can earn $265. Even students who lived in a "designated college or university residence" in 2022 can get $25.

How to qualify: Applicants must be 18 years or older and be able to prove they rented or paid property tax for their primary residence.

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Low-Income Workers Tax Credit

Ontario residents who make less than $50,000 a year after taxes can receive a maximum credit of $875 or 5.05% of their employment income, depending on which is lower.

How to qualify: Individuals' net income in 2022 must've been below $50,000, while families applying must've brought in less than $82,500 annually.

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Ontario Jobs Training Tax Credit

This temporary, refundable personal income tax credit aims to help workers get the training they need by providing up to $2,000 annually in relief.

The credit covers 50% of a person’s 2022 eligible expenses, including tuition and other fees paid to an eligible educational institution in Canada in 2023.

Expenses related to a trade or professional examination this year can also be submitted.

How to qualify: Applicants must be Ontario residents between 26 and 65 years old with a positive Canada Training Credit limit in 2022.

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Ontario Seniors' Public Transit Tax Credit

Seniors can claim up to $3,000 in eligible public transit expenses annually and receive up to $450 back.

How to qualify: Applicants must've been 65 or older on the last day of the previous tax year and have been living in Ontario by the end of 2022.

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Ontario Seniors Care at Home Tax Credit

This tax credit allows residents to write off up to 25% of their 2022 medical expenses. Those who qualify can claim up to $6,000, for a maximum of $1,500 back

This amount is reduced by 5% of a family's net income over $35,000 — so for instance, 5% of $5,000 for a family with a net income of $40,000 — and fully phased out for those who make $65,000 or more.

How to qualify: Ontarians who turned 70 or older in 2022 or have a spouse or common‐law partner who turned 70 or older during the year.

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This article's cover image was used for illustrative purposes only.

Patrick John Gilson
Patrick John Gilson was a Creator with Narcity Media focused on Ontario gas prices and is based in Toronto, Ontario.