Premier Doug Ford has announced that the Ontario government will give each taxpayer a $200 tax-free rebate. He shared this news at a press conference on Tuesday, stating that families with children will receive even more support.
“Since raising kids comes with extra costs, parents will get an additional $200 for each eligible child,” Ford explained. For example, a family of five with three children under 18 could receive a total of $1,000.
“These $200 checks will help families throughout the province, with payments expected to arrive early next year,” Ford added. The total cost of these rebates will be around $3 billion.
Ford mentioned that the government is offering these rebates due to the rising costs from the federal carbon tax and high interest rates. He noted that the province can afford this because inflation has led to increased sales tax revenue and recent changes to the federal capital gains tax.
To qualify for the rebate, individuals must be at least 18 years old by the end of 2023, be residents of Ontario on December 31, 2023, have filed their 2023 Income Tax and Benefit Return by December 31, 2024, and must not be bankrupt or in prison in 2024.
This announcement comes just before the Ford government is set to deliver a fall economic update.
