What is a "CANADA FPT" Deposit?

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What is a "CANADA FPT" Deposit?

Postby iluvnascar » 27 Apr 2010 09:05

I look after my in-laws banking. Today, a deposit ($459.26) showed up in her TD account identified as "CANADA FPT". I have no idea what it is - she already received her income tax refund (it was identified as "CANADA RIT"); I know it's not a quarterly GST rebate; and I think it's too early for the Ontario HST bribe money. But I have no idea what it is. Anybody know?
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Re: What is a "CANADA FPT" Deposit?

Postby BRIAN5000 » 27 Apr 2010 09:53

My guess "Canada fpt stands for federal-provincial tax credit..."
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Re: What is a "CANADA FPT" Deposit?

Postby iluvnascar » 27 Apr 2010 10:27

BRIAN5000 wrote:My guess "Canada fpt stands for federal-provincial tax credit..."


That's my hunch as well......but the Ontario Tax Credit claimed on the 2009 tax return was $330.36 and was included in her tax refund received a couple of weeks ago.

She is not eligible for the quarterly GST rebate (due to overall family income). And the Ontario Sales Tax Transition Benefit (OSTTB) is not due until June.
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Re: What is a "CANADA FPT" Deposit?

Postby iluvnascar » 27 Apr 2010 10:31

Googling has provided me with a probable explanation.....I think it's Ontario's Senior Homeowners' Property Tax Grant.

http://www.rev.gov.on.ca/en/bulletins/itrp/6493.html
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Re: What is a "CANADA FPT" Deposit?

Postby queerasmoi » 27 Apr 2010 10:37

Indeed that's the line that appears on my GST rebates which also include a component of BC's "Climate Action Credit". If she is signed up for CRA's "my account" online she should be able to view the details of any such credits.
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Re: What is a "CANADA FPT" Deposit?

Postby iluvnascar » 27 Apr 2010 10:45

queerasmoi wrote:Indeed that's the line that appears on my GST rebates which also include a component of BC's "Climate Action Credit". If she is signed up for CRA's "my account" online she should be able to view the details of any such credits.


Yes, she is signed up and I looked there first but could find no reference to the payment. That may be due to the fact that it is a Provincial (Ontario) payment.
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Re: What is a "CANADA FPT" Deposit?

Postby queerasmoi » 27 Apr 2010 13:36

Odd. In BC, under "Current GST/HST credit payment" it shows both the GST/HST credit and the BC climate credit. Maybe Ontario is not as linked up.
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Re: What is a "CANADA FPT" Deposit?

Postby iluvnascar » 27 Apr 2010 14:16

queerasmoi wrote:Odd. In BC, under "Current GST/HST credit payment" it shows both the GST/HST credit and the BC climate credit. Maybe Ontario is not as linked up.


I had another look....there is a link that I hadn't noticed previously.....it says: Provincial Programs
Grants and Credits

Click on that and there it is: 2010 Ontario Senior Homeowners' Property Tax Grant: $ 458.15
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Re: What is a "CANADA FPT" Deposit?

Postby gammy » 27 May 2011 14:42

it stands for property tax refund...seniors based on income qualify when doing their income tax...the highest is $500.00 and reduces with income plateau.[quote][/quote]
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