Published: June 2007
Content last reviewed: February 2012
ISBN: 978-1-4249-4569-6 (HTML)
This publication is provided as a guide only. It is not intended as a substitute for the Taxation Act, 2007 and Regulations.
The Ontario Opportunities Fund (the fund) allows Ontario residents to reduce the provincial deficit and debt by making monetary contributions. Contributions to the fund are considered gifts to the Crown. If you make a monetary contribution to the fund, you will be issued a receipt and will be eligible to claim a non-refundable tax credit on your income tax return for the taxation year in which you make your contribution. The fund will also receive proceeds from any major asset or enterprise that the province sells, and any funds that remain once the deficit target has been met each year.
You can make a contribution to the fund by entering the amount of your contribution in the 'Ontario Opportunities Fund' area on page 4 of the T1-General and T1-Special Income Tax and Benefit Returns.
Your contribution will not be processed if it is less than $2.00, or if the refund you have calculated is reduced by $2.00 or more when your return is assessed. Please note that your contribution will be deposited to the fund as soon as your tax return is assessed.
If you prefer to make a separate monetary contribution to the fund, please make your
cheque or money order payable to Minister of Finance - Ontario Opportunities Fund
and mail it to:
Ontario Financing Authority
One Dundas Street West, Suite 1400
Toronto ON M7A 1Y7
You will receive a receipt for your contribution to the Ontario Opportunities Fund. This receipt must be included with your return for the taxation year for which the contribution was made. Receipts are usually issued during the month of February for contributions made during the previous year.
If you make a contribution in 2012 (on your 2011 tax return), you will receive a receipt in February of 2013. You will claim your tax credit on your 2012 tax return as a government gift on Schedule 9. The tax credit will reduce your 2012 total tax payable.
To obtain the most current version of this publication, or additional information, visit our website at ontario.ca/finance and enter 580 in the find page field at the bottom of the webpage or contact the Ministry of Finance at: