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    Home»Saving Money»Ontario: New Benefits & Refunds in 2022
    Saving Money

    Ontario: New Benefits & Refunds in 2022

    Nina AndersonBy Nina AndersonNo Comments3 Mins Read
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    Ontario New Benefits & Refunds
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    While these Ontario benefits are not exclusive to single mothers, they are newly introduced and could slip under your radar. If you haven’t checked the post which lists important Canadian federal and provincial benefits for single mothers, you can do so on this page.

    For housing and rental assistance for single mothers in Canada, check out this post. If you combine all these benefits and refunds, you can cover a lot of essential expenses to help you with raising a family by yourself.

    Staycation Tax Credit 2022 – temporary benefit

    If you reside in Ontario and want to plan a staycation within the province, you can claim a temporary tax credit. To encourage people to travel locally, the Ontario government will reimburse up to 20% of eligible vacation expenses when you file your tax for 2022.

    If you travel within the province of Ontario between January 1 – December 31, 2022, you can claim up to a maximum of $1,000 (individual traveling) or $2,000 (family traveling). The tax refund translates to a maximum savings of $200 or $400, respectively.

    Learn more here


    Vehicle License Plate Fee Refund

    As of March 13, 2022, Ontario is eliminating its regular $120 annual fee to renew your car license plate. Additionally, car owners will receive a refund for the fees paid for the last two years (March 1, 2020 – March 12, 2022).  For example, if you renewed your license plate twice within this period, you can receive a $240 refund.

    To receive your refund, ensure your license address is up to date and all outstanding toll or tickets/fines are paid. You can expect to receive your refund sometime in April 2022 via a cheque.

     Learn more here


    Senior’s Home Safety Tax Credit – temporary benefit

    Do you live with a senior relative? If so, you can be eligible to claim a temporary tax credit on many expenses that help to make your residence safer for a senior (handrails, safety bars, non-slip flooring, automatic garage openers, lighting, etc.) If you are planning to live with a senior relative within the next 24 months, you can also qualify to improve safety in your house beforehand.

    The credit is available for the 2021 and 2022 tax years and is worth 25% of up to $10,000 for eligible expenses for a senior’s principal residence in Ontario.

    The maximum credit is $2,500 per year. Expenses must be paid or payable in 2021 and 2022.

    Learn more here

     

     

    Related posts:

    • New Canadian Affordability Plan
    • Single Parent Statistics in Canada
    • Navigating a Sudden Job Loss
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    Single Mom Prosperity is a personal blog and online resource dedicated to tried and tested money strategies and saving tips for single mothers. Our mission is to share real life money strategies to financially empower other single moms to succeed in life and finances.

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