Canada PRO Deposit Dates: What is Canada PRO Deposit and How Does it Work?


For qualified Canadians, the Canada PRO Deposit acts as a vital financial lifeline, offering vital support through provincial assistance programs. In order to help people and families in Ontario and Alberta, this article seeks to clarify the Canada PRO Deposit Dates, what the Canada PRO Deposit is, and how this system works.

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Contents

What is Canada PRO Deposit?


The Canada Revenue Agency (CRA) oversees the Canada PRO Deposit, a financial aid program for citizens of Ontario and Alberta. A tax-free contribution known as the PRO Deposit is given to qualified people and families in accordance with particular provincial assistance programs. The PRO Deposit is connected to the Alberta Child and Family Benefit (ACFB) in Alberta, and the Ontario Trillium Benefit (OTB) in Ontario.

Canada PRO Deposit Dates


For those who are eligible for these provincial aid programs, knowing the Canada PRO Deposit Dates is crucial.

Ontario (OTB) PRO Deposit Dates (2024):

  • Jan 10
  • Feb 10
  • March 10
  • April 6
  • May 10
  • June 9
  • July 10
  • August 10
  • September 8
  • October 10
  • November 10
  • December 8

Alberta (ACFB) PRO Deposit Dates (2024):

  • Feb 27
  • May 26
  • Aug 25
  • Nov 27


It is advisable to get in touch with the CRA to find out why your payment hasn’t arrived within the allotted time if you think you qualify for the OTB or ACFB but haven’t received it yet.

Eligibility and Payment Calculation


The information in your income tax return is used by the CRA to establish your eligibility for Canada PRO Deposit. The precise benefit programs under OTB or ACFB for which you are eligible determine how much you will get via the PRO Deposit.

Ontario Trillium Benefit (OTB):

The OTB comprises three main credits:

  1. Families may get up to $265 in the Northern Ontario Energy Credit (NOEC), while single people may receive up to $172.
  2. The Ontario Energy and Property Tax Credit (OEPTC) is available to persons who are 18 to 64 years old and to those who are 65 years of age and beyond. The maximum amount awarded is $1,194.
  3. The maximum amount that eligible people can get from the Ontario Sales Tax Credit (OSTC) is $345.

For detailed information on eligibility requirements for each credit, visit the official Government of Ontario website.

Alberta Child and Family Benefit (ACFB):

The ACFB is designed to support families with lower household incomes and children under 18 years of age. It consists of two components:

  1. Base Component:
    • 1 child: up to $1,410
    • 2 children: up to $2,115
    • 3 children: up to $2,820
    • 4 or more children: up to $3,525
  2. Working Component:
    • 1 child: up to $722
    • 2 children: up to $1,379
    • 3 children: up to $1,772
    • 4 or more children: up to $1,902

To qualify for the ACFB, families must file their tax returns and meet the eligibility criteria for the Canada Child Benefit (CCB).

Conclusion


An essential source of financial support for qualified people and families in Ontario and Alberta is the Canada PRO Deposit. Through comprehension of the Canada PRO Deposit Dates, qualifying requirements, and payment computations, you may make certain that you obtain the necessary financial support from provincial assistance initiatives. Visit the Canadian government’s official website or get in touch with the CRA for the most recent details on Canada PRO Deposit Dates and eligibility conditions.

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