Important changes to Ontario Provincial tax credits and tax refunds
The Ontario government is now paying some tax credits in instalments rather than in one lump sum refund at the end of the year at tax time. Beginning in July 2012, the credits will be paid out monthly as the Ontario Trillium Benefit: www.rev.gov.on.ca/en/credit/otb/index.html
People will no longer be able to get lump-sum upfront refunds for these credits from tax preparation companies. Some tax preparation companies are offering a variety of tax preparation and refund arrangements, including offering debit cards (with fees). There are some serious concerns about some of these types of arrangements.
The Income Security Advocacy Centre (ISAC) has prepared a Tax Filing, Tax Credits & Tax Refunds Information Bulletin to explain the concerns and to suggest alternatives: