What Is Canada PRO Deposit?

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by Enoch Omololu

Updated

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If you reside in Canada, you may be wondering 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.

What is Canada PRO?

If you are an Ontario resident, the Canada PRO deposit you received is most likely an Ontario Trillium Benefit comprising of 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 is the combination of two other social assistance programs – Alberta Child Benefit and Alberta Family Employment Tax Credit.

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

Canada PRO Deposit Dates 2021

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)

  • January 8, 2021
  • February 10, 2021
  • March 10, 2021
  • April 9, 2021
  • May 10, 2021
  • June 10, 2021
  • July 9, 2021
  • August 10, 2021
  • September 10, 2021
  • October 8, 2021
  • November 10, 2021
  • December 10, 2021

How Much Can You Expect?

Northern Ontario Energy Credit: Singles get up to $158 and the maximum benefit for families is $243.

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

  • $1,095 if you are aged 18 to 64 years old
  • $1,247 if you are 65 years and older
  • $243 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 $316 for yourself, your spouse or partner, and each dependant child under 19 years of age.

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

  • February 26, 2021
  • May 27, 2021
  • August 27, 2021
  • November 26, 2021

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$1,330$681
2 children$1,995$1,301
3 children$2,660$1,672
4 or more children$3,325$1,795
Source: Alberta.ca

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

Who is Eligible for Canada PRO Deposit?

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 costs of home energy for Northern Ontario residents.

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

For July 2021 to June 2022 payment period, you must also be at least one of the following before June 1, 2022:

  • 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 2020, 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 2021 to June 2022 benefit period, you must be a resident of Ontario on December 31, 2020, and at least one of the following before June 1, 2022:

  • 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 2020, 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 2021 (July 2021 – June 2022), 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 2021, your taxes must have been filed for 2020.

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 is Canada PRO 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 2021 or as a one-time payment in June 2022.

OTB total payments of $360 or less are paid once in July 2021.

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

Alberta Child and Family Benefit (ACFB) amounts that are $10 for the instalment 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 earn a 1.25% interest rate. You can use this to hold your emergency funds while earning returns.

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. When you fund your account with at least $500, you get a $75 bonus.

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 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.

Related Reading:

Conclusion

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.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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