If you've just received a surprise deposit in your bank account from someone named Canada PRO, don't worry — there's a good reason.

The Canada PRO deposit is a tax-free benefit program meant to alleviate some of the costs of living for Ontario and Alberta families.

Here, we'll cover everything you need to know about it, including:

• What is Canada PRO/PRO?
• What is included in Canada PRO
• Who is eligible for Canada PRO
• Canada PRO payment amounts and schedule
• How taxes work for your Canada PRO deposit
• Application process for Canada PRO

Let's get into it!

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Understanding the Canada PRO Deposit

The Canada PRO deposit is an assistance program the Canadian government offers to help you cover your expenses. Here are the essential details:

• You'll receive it from the Canada Revenue Agency (CRA).
• Canada PRO contains provincial benefits for low- to moderate-income Ontarians and Albertans.
• The benefits are tax-free.

Payments from Canada PRO can be a welcome relief from the financial pressures of daily life. You can use the money to cover essential expenses, such as rent, groceries, or utilities.

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Types of benefits included in Canada PRO Deposit

Ontario Trillium Benefit

The Ontario Trillium Benefit (OTB) contains three combined programs:

• Northern Ontario Energy Credit: For households in northern Ontario that pay the higher energy costs in their geography.
• Ontario Sales Tax Credit: This credit provides relief for the provincial part of the HST on specific purchases, with a maximum annual credit of $360 per family member.
• Ontario Energy and Property Tax Credit: For low- to moderate-income households paying energy and property tax.

For Ontario residents, these benefits make up your Canada PRO payment and will follow the Trillium benefits payment dates (2024).

Alberta Child and Family Benefit

The Alberta Child and Family Benefit (ACFB) is provided to low- and middle-income families to improve their financial stability and their children's quality of life.

Benefit amounts will vary based on the number of children and the family's income levels.

Eligibility criteria for Canada PRO Deposit

Each benefit contained under the Canada PRO deposit umbrella has slightly different requirements and eligibility criteria. Let's go through each one:

Northern Ontario Energy Credit

The following criteria are relevant for the 2024 NOEC. Firstly, you need to be a Northern Ontario resident who pays rent or property taxes. Northern Ontario includes the following regions:

• Algoma
• Cochrane
• Kenora
• Manitoulin
• Nipissing
• Parry Sound
• Rainy River
• Sudbury (including the City of Greater Sudbury)
• Thunder Bay
• Timiskaming

At least ONE of the following general criteria must be true:

• You'll be 18 or older before June 1st of next year.
• You had a spouse (or common-law partner) on or before December 31st of the past year.
• You're a parent who lives or used to live with your child.

As well as at least ONE of the following conditions:

• You (or someone else on your behalf) paid pent or property tax for your primary home in Northern Ontario.
• You lived on a reserve in northern Ontario, and you or someone else paid your home energy costs (such as electricity and heat).
• You lived in a public or non-profit long-term care home in Northern Ontario, and you or someone else paid the accommodation costs.

Ontario Energy and Property Tax Credit

This credit has two components, with slightly different criteria for each.

For both, you must have been an Ontario resident on December 31st of last year, and at least one of the following must be true:

• You'll be 18 or older before June 1st of next year.
• You had a spouse (or common-law partner) on or before December 31st of the past year.
• You're a parent who lives or used to live with your child.

For the energy component of the credit, at least ONE of these must also be true:

1. You (or someone else on your behalf) paid pent or property tax for your primary residence, subject to Ontario municipal or education property tax.
2. You lived on a reserve in northern Ontario, and you or someone else paid your home energy costs (such as electricity and heat).
3. You lived in a public or non-profit long-term care home in Northern Ontario, and you or someone else paid the accommodation costs.

For the property tax component, one of the following must be true:

1. You (or someone else on your behalf) paid pent or property tax for your primary residence, subject to Ontario municipal or education property tax.
2. You lived on a reserve in northern Ontario, and you or someone else paid your home energy costs (such as electricity and heat).
3. You lived in the residence of a designated Ontario university, college, or private school.

Ontario Sales Tax Credit

Most Ontarians are eligible for the Ontario Sales Tax Credit, as you only need to meet one of the following criteria:

1. You're over 19 in the month of the payment.
2. If under 19, you have or have had a spouse/common-law partner OR you're a parent who lives/has lived with their child.

Alberta Child and Family Benefit

ACFB legibility requirements are very well-defined. All of the following must be true:

• Be a parent of at least one child under 18.
• Be an Albertan resident.
• You've filed a tax return.
• You meet the income criteria.

What are the income criteria? Here's a quick overview:

The ACFB has two components: the base component (which you'll get regardless of employment income) and the working component (which is proportional to your employment income).

You're eligible for the working component if your family employment income is greater than $2,760.

Payment schedules for Canada PRO Deposit

The Canada PRO payment dates (for Ontarians) are:

• January 10, 2024
• February 9, 2024
• March 8, 2024
• April 10, 2024
• May 10, 2024
• June 10, 2024
• July 10, 2024
• August 9, 2024
• September 10, 2024
• October 10, 2024
• November 8, 2024
• December 10, 2024

The PRO payment dates follow the OTB payment dates, typically between the 8th and the 10th of each month.

For Albertans, your Canada PRO payments will likely follow the ACFB schedule, with payments made in:

• August
• November
• February
• May

Note that payments below $10 in one quarter may roll over and consolidate into the next.

Payment amounts for Canada PRO

Since the PRO deposit comprises several different benefits that you may or may not be eligible for, payment amounts may vary. Let's go through the payment amounts for each:

Northern Ontario Energy Credit

• Maximum amount you can receive: $180 if single without children, $277 for couple and single parents.
• If you're single without children: The max, reduced by 1% of your adjusted net income over $48,526.
• If you have a family: The max, reduced by 1% of your adjusted income over $62,391.

To determine your payments for 2024, use these credit calculation sheets from the government.

Ontario Sales Tax Credit

• Maximum amount you can receive: $360 per adult and child (under 19) in the family.
• If you're single without children: The max, reduced by 4% of your adjusted net income over $27,729.
• If you have children (single or partnered): The max, reduced by 4% of your adjusted income over $34,661.

Ontario Energy and Property Tax Credit

The OEPTC relies on several factors, including your age, marital status, and your rent/property tax payments. The maximums are as follows:

• $1,248 for non-seniors ($277 for energy costs and $971 for property taxes)
• $1,421 for seniors ($277 for energy costs and $1,144 for property taxes)

To get a more specific amount, use the credit calculation sheets offered by the government.

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Alberta Child and Family Benefit

The ACFB payments depend on:

• How many children you have
• Your household income

Here's how that breaks down for 2024:

• For one child: Base amount maximum is $1,410, working component maximum is $722
• For two children: Base amount maximum is $2,115, working component maximum is $1,379
• For three children: Base amount maximum is $2,820, working component maximum is $1,772
• For four or more children: Base amount maximum is $3,525, working component maximum is $1,902

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These amounts will fall once your family income exceeds certain thresholds:

• Base component threshold: $25,935 net.
• Working component threshold: $43,460 net.

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How taxes work for your Canada PRO Deposit

All benefits in the Canada PRO deposit are tax-free; you do not need to claim them on your income tax return.

However, if you received more benefits than you were entitled to, the excess amounts may need to be repaid.

Application process for Canada PRO Deposit

To apply for the Canada PRO deposit, all you need to do is to fill out your annual tax and benefit return. Here are the details:

• Ontario sales tax credit: You do not need to apply for this! The CRA will use the data from your return to determine your eligibility.
• Northern Ontario energy credit and Ontario energy and property tax credit: On your return, you'll need to complete the applicable parts of Form ON-BEN.
• Alberta child and family benefit: You'll automatically be considered when you file your annual tax return.

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Make the most of your Canada PRO deposit

Let's recap what we've learned so far:

• The Canada PRO deposit is a tax-free government assistance program from the CRA for low- to moderate-income Ontarians and Albertans to help cover essential expenses.
• It includes the Ontario Trillium Benefit (with Northern Ontario Energy Credit, Ontario Sales Tax Credit, and Ontario Energy and Property Tax Credit) and the Alberta Child and Family Benefit.
• Eligibility varies by benefit but generally includes criteria like residency, age, relationship status, and whether you pay rent, property tax, or home energy costs.
• Payments are made monthly for Ontarians and quarterly for Albertans, with specific amounts depending on the type of benefit and individual eligibility.

Canada PRO deposits can be lifesavers when it comes to the everyday costs of raising kids, taking care of a home, and managing your debt obligations. But when it comes to bigger financial needs, like renovations or auto repairs, that's where Lotly steps in.

Lotly specializes in helping homeowners find the best loan deals, working with over 50 lenders across Canada to secure the ideal home loans and HELOCs for your situation. Book a free consultation to discover how Lotly can support your financial goals.

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FAQs

Who qualifies for Canada PRO?

To qualify for Canada PRO, you must meet the eligibility criteria for each individual benefit within the program. Generally, this includes being a resident of Ontario or Alberta, having a low to moderate income, and meeting other specific requirements such as age or relationship status.

Why did I get a Canada PRO deposit?

If you received a Canada PRO payment, you filed an annual tax return as an Ontario or Alberta resident and meet the criteria for at least one of the included benefits.

Is Canada PRO the same as Trillium?

Canada PRO is the overall program that includes benefits such as the Ontario Trillium Benefit. While Trillium refers specifically to one benefit, Canada PRO also consists of the Alberta Child and Family Benefit.

What are dates for Canada PRO?

Canada PRO is paid out quarterly for Albertans and monthly for Ontarians, following the Trillium payment dates (2024). This means that you will receive a payment every month or quarter as long as you continue to meet the eligibility criteria.

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