Canada PRO Deposit 2024: Dates, Eligibility, and Amounts (2024)

If you reside in Canada, you may wonder what the Canada PRO deposit in your bank account is for.

It is not clear from your bank statement where this money is from. However, with a little digging, we can tell you it is a Government of Canada payment on behalf of either the province of Ontario or Alberta.

If you are an Ontario resident, the Canada PRO deposit you received is most likely an Ontario Trillium Benefit comprising three tax credits (depending on which you qualify for):

  • Northern Ontario Energy Credit
  • Ontario Energy and Property Tax Credit
  • Ontario Sales Tax Credit

If you are a resident of Alberta, Canada PRO payments are very likely related to the Alberta Child and Family Benefit (ACFB).

This benefit combines two other social assistance programs – Alberta Child Benefit and Alberta Family Employment Tax Credit.

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Canada PRO Deposit Dates 2024

When you get your Canada PRO payment is dependent on the program you are eligible for as well as whether you are set up for direct deposits.

Ontario Trillium Benefit Payment Dates (Ontario Canada PRO)

Ontario Trillium payment dates in 2024 are as follows:

  • 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

How Much Can You Expect?

Northern Ontario Energy Credit: Singles get up to $172, and the maximum benefit for families is $265.

Ontario Energy and Property Tax Credit: For this tax credit, you could get up to:

  • $1,194 if you are aged 18 to 64 years old
  • $1,360 if you are 65 years and older
  • $265 if you reside on a reserve or live in a public long-term care home
  • $25 if you are a student living in an eligible college, university, or private school residence

Ontario Sales Tax Credit: Payments are up to $345 for yourself, your spouse or partner, and each dependent child under 19 years of age.

Alberta Child and Family Benefit Payment Dates (Alberta Canada PRO)

  • February 27, 2024
  • May 27, 2024
  • August 27, 2024
  • November 27, 2024

How Much Can You Expect?

The ACFB you receive is based on your family’s income and the number of children.

There is a “base” amount that is not tied to income and a “working” component that increases with your income earned.

The maximum ACFB amounts are:

Number of ChildrenMaximum Base AmountMaximum Working Component
1 child$1,410$722
2 children$2,115$1,379
3 children$2,820$1,772
4 or more children$3,525$1,902

If you have not set up direct deposit through your online CRA My Account, your cheques are sent in the mail.

Related: Alberta Affordability program.

Eligibility for a Canada PRO Deposit

The Ontario Trillium Benefit and Alberta Child and Family Benefit programs are administered by the Canada Revenue Agency (CRA).

To be eligible for Canada PRO deposits, you must meet the minimum requirements for each program.

1. Northern Ontario Energy Credit

This tax credit helps offset some of the home energy costs for Northern Ontario residents.

To qualify, you must live in Algoma, Cochrane, Kenora, Nipissing, Manitoulin, Parry Sound, Sudbury, and Thunder Bay.

For July 2023 to June 2024 payment period, you must also be at least one of the following before June 1, 2024:

  • 18 years of age or older
  • Have or previously had a spouse or common-law partner
  • A parent who lives or previously lived with your child

And, in 2022, you:

  • Rented or paid property tax for your main residence
  • Lived on a reserve and paid for your home energy costs
  • Lived in a public long-term care home, and you paid for a portion of your accommodation

2. Ontario Energy and Property Tax Credit

This tax credit helps offset some of your property taxes and the sales tax you pay on your energy bill.

To qualify for payments during July 2023 to June 2024 benefit period, you must be a resident of Ontario on December 31, 2022, and at least one of the following before June 1, 2023:

  • 18 years of age or older
  • Married or previously married or in a common-law relationship
  • A parent who lives or previously lived with your child

And, in 2022, you:

  • Rented or paid property tax for your principal residence
  • Lived on a reserve and paid your home energy costs
  • Lived in a public long-term care home and paid for your accommodation

3. Ontario Sales Tax Credit

Similar to the GST/HST credit, this benefit offsets part of the sales tax that Ontarians pay.

To qualify for benefits in 2023 (July 2023 – June 2024 benefit period), you must reside in Ontario and be at least one of the following:

  • 19 years of age or older
  • Married or previously married or in a common-law relationship
  • A parent who lives or previously lived with your child

4. Alberta Child and Family Benefit

The ACFB provides financial assistance to low-and middle-income families in Alberta who have minor children.

To be eligible, you must be the parent of one or more children under 18, reside in Alberta, file your annual tax return, and meet the income threshold.

How To Apply For Canada PRO

You can apply for Ontario Trillium Benefit by simply filing your income tax return for the previous year.

For example, to receive benefits in the 2023-2024 payment period, your taxes must have been filed for 2022. For the 2024-2025 benefit period, your 2023 tax return is required.

You will also be submitting a completed ON-BEN Application Form along with your tax return.

Albertans are automatically considered for the ACFB when they file their tax returns and qualify for the Canada Child Benefit.

How Canada PRO is Paid

Canada Pro tax credits are administered by the CRA and are paid through direct deposit to your bank account.

If you haven’t set up direct deposit payments via your CRA MyAccount, Canada PRO payments are sent by cheque.

Ontario Trillium Benefits (OTB) greater than $360 are either paid monthly starting in July 2023 or as a one-time payment in June 2024.

OTB total payments of $360 or less are paid once in July 2023.

If your OTB is greater than $2 but less than $10, it is increased to $10. No payment is made if you qualify for OTB of $2 or less.

Alberta Child and Family Benefit (ACFB) amounts that are $10 for the installment payment period are consolidated.

Is Canada PRO Deposit Taxable?

Canada PRO Deposits are tax-free payments and do not impact your taxable income.

They should also not affect your eligibility for other social assistance programs and benefits.

Put Your Canada PRO Deposit To Use

While regular Canada PRO deposits in your bank account may feel like free money, you can use these payments to improve your financial life.

A few strategies to consider are:

1. Save in a high-interest account: Move your deposit to a high-interest savings account such as the free EQ Bank Savings Plus account and Neo Money account and earn a high interest rate. You can use this to hold your emergency funds while earning returns.

EQ Bank Personal Account

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No monthly account fees

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Neo Savings Account

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4.00% non-promo interest rate

No monthly fees

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Access to a no-annual-fee credit card

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2. Invest and grow your portfolio: Open a low-cost investment account with Wealthsimple and enjoy automatic deposits, rebalancing, dividend reinvesting, and free financial advice.

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Canada PRO FAQ

Why did I get money from Canada PRO?

Canada PRO deposits are benefits and social assistance payments made by the CRA on behalf of provinces. The most common examples are the Ontario Trillium Benefit and the Alberta Child and Family Benefit.

How often is Canada PRO paid?

Ontario Canada PRO is paid monthly, while Alberta and Nova Scotia Canada PRO payments are made in four instalments.

Is Canada PRO the same as GST?

GST and HST payments are quarterly tax-free benefits designed to help low-income Canadians offset the sales tax they pay. GST payments are different from Canada PRO and may show up in your bank account as Canada GST.

Still not sure what Canada PRO deposits relate to? You can visit your online CRA account to see the benefits listed on your profile.

You can also contact the CRA at 1-800-387-1193 to find out.

Related reading:

  • Minimum Wage in Canada
  • Ontario Minimum Wage
  • Free Chequing Accounts in Canada
  • Statutory Holidays in Canada
  • Best Pet Insurance in Canada
  • Best Money Making Apps

As a financial expert with a deep understanding of the taxation and social assistance landscape in Canada, I can shed light on the intricate details of the Canada PRO deposit mentioned in the provided article.

Firstly, the article discusses the Canada PRO deposit, which is a financial benefit provided by the Government of Canada through the Canada Revenue Agency (CRA) on behalf of provinces. The two main programs highlighted are the Ontario Trillium Benefit and the Alberta Child and Family Benefit.

For Ontario residents, the Canada PRO deposit is most likely the Ontario Trillium Benefit, which encompasses three tax credits:

  1. Northern Ontario Energy Credit: Designed to offset home energy costs for residents in specific regions of Northern Ontario.

  2. Ontario Energy and Property Tax Credit: Aimed at reducing property taxes and sales tax on energy bills. The benefit amount varies based on factors such as age, residence, and student status.

  3. Ontario Sales Tax Credit: Similar to the GST/HST credit, it offsets part of the sales tax paid by Ontarians.

The article provides payment dates for the Ontario Trillium Benefit in 2024, along with specific amounts for each credit. For instance, the Northern Ontario Energy Credit offers up to $172 for singles and a maximum benefit of $265 for families.

For residents of Alberta, the Canada PRO payments are associated with the Alberta Child and Family Benefit (ACFB). This benefit combines the Alberta Child Benefit and the Alberta Family Employment Tax Credit. Payment dates for the ACFB in 2024 are listed, along with details on how the benefit amount is determined based on family income and the number of children.

The eligibility criteria for both programs are outlined in detail. To be eligible for Canada PRO deposits, individuals must meet specific requirements for each tax credit or benefit. The article provides criteria for the Northern Ontario Energy Credit, Ontario Energy and Property Tax Credit, Ontario Sales Tax Credit, and the Alberta Child and Family Benefit.

Additionally, the article explains how to apply for the Canada PRO benefits, emphasizing the role of filing income tax returns. It mentions that Albertans are automatically considered for the ACFB when filing their tax returns and qualifying for the Canada Child Benefit.

Payment methods are also covered. Canada PRO tax credits are administered by the CRA and are typically paid through direct deposit. If direct deposit is not set up, payments are sent by cheque.

Importantly, the article clarifies that Canada PRO deposits are tax-free payments and do not impact taxable income. It assures recipients that these payments should not affect eligibility for other social assistance programs and benefits.

Finally, the article provides practical tips on utilizing Canada PRO deposits, suggesting strategies such as saving in high-interest accounts or investing to improve one's financial situation.

In summary, the Canada PRO deposit, as discussed in the article, encompasses various tax credits and benefits administered by the CRA for residents of Ontario and Alberta. The detailed information provided covers eligibility criteria, payment dates, benefit amounts, and practical advice on managing these financial resources.

Canada PRO Deposit 2024: Dates, Eligibility, and Amounts (2024)
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