Understanding Canada PRO Deposit: How it Works and Deposit Dates

Updated on January 25, 2024

Explore Canada PRO Deposit Dates: Uncover the ins and outs of Canada PRO Deposit and its workings. This article delves into various aspects of Canada PRO Deposit Dates, shedding light on its functionalities and other significant details.

Canada PRO Deposit Dates

When you see a Canada PRO Deposit in your bank account, it indicates that you’ve qualified for government financial aid. These PRO payments are typically deposited in Ontario and Alberta. In Ontario, the deposit happens every 10th day of the month, while in Alberta, it occurs quarterly.

What is Canada PRO Deposit?

Individuals become eligible for the Canada PRO Deposit when they qualify for provincial assistance programs. In Ontario, the PRO Deposit corresponds to the Ontario Trillium Benefit, while in Alberta, it is linked to the Alberta Child and Family Benefit.

Since these are provincial programs, residents of other provinces are not eligible for them. Each program has its own set of qualifying requirements, and individuals typically do not need to actively apply for them. The Canada Revenue Agency (CRA) assesses eligibility for the PRO Deposit based on tax returns.

If a person’s income in a specific tax year meets the criteria for the Alberta Child and Family Benefit (ACFB) or Ontario Trillium Benefit (OTB), they are automatically considered for the PRO Deposit. The amount received as the Canada PRO Deposit is tax-free, meaning recipients are not required to report it.

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What are the Canada PRO Deposit Dates?

While PRO Deposits are designed for provincial programs, it’s important to note that they are not administered by the provincial government. Instead, the Canada Revenue Agency (CRA) handles the payments.

For the Ontario Trillium Benefit (OTB) in 2023, the Canada PRO Deposit Dates are as follows:

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

Individuals who believe they meet the eligibility requirements for any OTB component but haven’t received payments within 10 days of these dates should contact the CRA.

For the Alberta Child and Family Benefit (ACFB) in 2023, the Canada PRO Deposit Dates are:

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

Those who believe they qualify for ACFB but haven’t received payments within 5 days of these dates should contact the CRA.

It’s important to stay updated on benefit payment dates, as the CRA regularly updates them. The authorized website of the Canadian Government provides this information.

How Does it Work?

When an individual submits their income tax return, the Canada Revenue Agency (CRA) reviews the return to determine eligibility for relevant benefit programs in their province.

The Canada PRO Deposit encompasses four main benefit programs. In Ontario, these programs are consolidated into the Ontario Trillium Benefit (OTB), consisting of three credits: the Northern Ontario Energy Credit (NOEC), Ontario Energy and Property Tax Credit (OEPTC), and Ontario Sales Tax Credit (OSTC). Qualification for any of these credits results in the PRO Deposit being deposited into the recipient’s bank account.

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Each credit in the OTB has distinct eligibility criteria and maximum credit amounts. For detailed information on these credits and their eligibility requirements, individuals can visit the authorized website of the Government of Ontario.

  • NOEC: Single individuals can receive up to $172, and families can receive up to $265.
  • OEPTC: Individuals aged 18 to 64 can receive up to $1,194, while those aged over 65 can receive up to $1,360.
  • OSTC: Individuals can receive a maximum amount of $345.

In Alberta, the PRO Deposit is based on the Alberta Child and Family Benefit (ACFB) program. This program is intended for families with lower household incomes and children under 18 years old. Families can receive a PRO Deposit through the ACFB program by filing their tax returns and qualifying for the Canada Child Benefit (CCB).

This program comprises two components:

  1. Base Component: Individuals with one child can receive up to $1,410, those with two children can receive up to $2,115, and those with three children can receive up to $2,820. For individuals with four or more eligible children, the maximum amount is $3,525.
  2. Working Component: Individuals with one child can receive up to $722, for two children the maximum is $1,379, and for three children, it’s up to $1,772. Those with four or more children can receive up to $1,902.

 

 

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