What is the Ontario LIFT tax credit, and who does it apply to?

Since 2019, low-income individuals and families in Ontario may be eligible for the non-refundable Low-income Individuals and Families Tax (or LIFT) credit.

Since 2019, low-income individuals and families in Ontario may be eligible for the non-refundable Low-income Individuals and Families Tax (or LIFT) credit.

For tax years after 2021, the maximum LIFT is the lesser of $875 (and 5.05% of your employment income).

This maximum amount is then reduced by 5% of the larger of your:

• Adjusted individual net income over $32,500
• Adjusted family net income over $65,000

So the credit is reduced to zero if either your:

• Individual adjusted net income is between $32,500 and $50,000
• Adjusted family net income is between $65,000 and $82,500

You won't have to directly apply for this credit while filing your return. TurboTax will automatically apply the correct credit amount to your return (should you qualify), based on the income you report in your return. You will see a final credit amount in the summary section of the Provincial tax.