Overview

You can directly reduce the provincial debt through the Ontario Opportunities Fund. In return, you’ll receive a receipt, which can be claimed as a non-refundable tax credit on the personal income tax and benefit return.

How to contribute

There are two ways you can contribute to the Ontario Opportunities Fund.

Redirect your income tax refund

If you are entitled to an income tax refund, you can donate all or a portion of your refund to the Ontario Opportunities Fund.

When filing your return, simply complete the Ontario Opportunities Fund area on page four of the return.

Your donation will not be processed if it is less than $2.00.

Send a cheque or money order

You can contribute to the Ontario Opportunities Fund any time of year by sending a cheque or money order, payable to the Minister of Finance – Ontario Opportunities Fund, to:

Ontario Financing Authority
1 Dundas Street West, Suite 1400
Toronto, Ontario
M7A 1Y7

How to claim a credit

The government will send you a receipt for your Ontario Opportunities Fund contribution (usually issued in February) showing the tax year when the contribution was made.

Use the dollar amount on the receipt to calculate a federal and provincial donations and gifts non-refundable tax credit on your return (follow the instructions for lines 349 of Schedule 1 and 5896 of the ON428 Form of the return). You can:

  • claim it on the return for the year the contribution was made, or
  • carry it forward and claim it on your return for any of the next five years

The donations and gifts non-refundable tax credit from your Ontario Opportunities Fund contribution reduces the amount of tax you have to pay and may result in a refund.

You can claim it only once.

Don’t send your receipt to the Canada Revenue Agency when you file your return, but keep a copy in case they ask to see it later.

Updated: August 25, 2021
Published: January 09, 2018