What is a "CANADA FPT" Deposit?
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- Veteran Contributor
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What is a "CANADA FPT" Deposit?
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?
Re: What is a "CANADA FPT" Deposit?
My guess "Canada fpt stands for federal-provincial tax credit..."
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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Re: What is a "CANADA FPT" Deposit?
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.BRIAN5000 wrote:My guess "Canada fpt stands for federal-provincial tax credit..."
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?
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
http://www.rev.gov.on.ca/en/bulletins/itrp/6493.html
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Re: What is a "CANADA FPT" Deposit?
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?
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.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.
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Re: What is a "CANADA FPT" Deposit?
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?
I had another look....there is a link that I hadn't noticed previously.....it says: Provincial Programsqueerasmoi 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.
Grants and Credits
Click on that and there it is: 2010 Ontario Senior Homeowners' Property Tax Grant: $ 458.15
Re: What is a "CANADA FPT" Deposit?
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]