Tax Credits 2024 Ontario. In this article, we will explore some of the most relevant tax credits available to ontario residents in 2024 and guide how to access them. Personal income tax is collected annually from ontario residents and those who earned income in the province.
The ontario trillium benefit combines the following three credits to help pay for energy costs as well as sales and property tax: Every taxpayer gets a tax credit for the basic personal amount, so any person can earn taxable income of $15,705 in 2024 without paying any federal tax, and can earn anywhere from $8,481 to $21,885, depending on the province or territory.