Income Limits

[Sarah]

Hello everyone!

I received some money from the government, aside from ODSP payment, to go towards paying my rent. I ended up getting back pay for a year and one months rent paid in full.

A few Questions I have:

Do I need to report this income? It's the Canadian Ontario Housing Benefit.

How much are we allowed to have in our bank account, because I think I'm over the limit now. (Do I go on a shopping spree and get some things I never really had the money for before now?)

Are we allowed to invest some of our money. If yes, do we have to report that any money we've made from investments? (I sure hope not, because you'd think they would want us to save some of our money. I need to have 3 crowns done in the next year for my teeth, and that won't be covered, so I'd like to save that money)

Thank-you for the input!!

Sarah

~ It's not the mountain we conquer, but ourselves

[Jess.k]

Does anyone have a link for information on this? I'd really appreciate your time. 

Thank-you!

[Rob S]

40k/50k

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[SW]

My apologies—it looks like you are within your rights to have this. From what I was told by many case workers, any money from the government is not deducted, but if you have a sizeable sum, you could be removed if it’s over the limit. I’m not sure what that limit is though as it would be based on your personal situation/dependants etc. 

Best to ask your case worker. 

On Monday, May 3, 2021 at 1:59:54 PM UTC-4 Jess.k wrote:

[L B]

Sarah,

Asset limits have been increased to $40,000 for a single person, $50,000 for other benefit units. Exact details can be found here under the directive for “Definition and Treatment of Assets”:  https://www.mcss.gov.on.ca/en/mcss/programs/social/directives/odsp/is/4_1_ODSP_ISDirectives.aspx

As for the monies received towards shelter, it’s not income. You didn’t work to earn it. Therefore don’t claim it that way.

I’d recommend giving your worker a statement from the retroactive cheque because it clearly defines what the money is for. That way they’ll have an explanation for the lump sum deposit.

There’s likely another directive talking about how to claim the housing benefit but I haven’t taken the time to look for it yet.

Perhaps someone else on this discussion board will know the answer and can share it here.

Any tips?

For now, you’ve at least got part of your answer.

Louise

On May 4, 2021, at 10:06 PM, SW <stormwon...@gmail.com> wrote:

My apologies—it looks like you are within your rights to have this. From what I was told by many case workers, any money from the government is not deducted, but if you have a sizeable sum, you could be removed if it’s over the limit. I’m not sure what that limit is though as it would be based on your personal situation/dependants etc. 

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[L B]

Wow…. My apologies. I’m just realizing that weeks worth of email just came in all at once. I replied to an email that others had taken care of. Sorry about that.

Louise

On May 31, 2021, at 5:18 PM, L B <justic...@gmail.com> wrote:



[🐱]

>Do I need to report this income? It's the Canadian Ontario Housing Benefit.

I think so, but I would call and ask, first the issuer of the cheque, then ODSP. It's also available online if you look up ODSP income limits.

How much are we allowed to have in our bank account, because I think I'm over the limit now. (Do I go on a shopping spree and get some things I never really had the money for before now?)

$30k

Are we allowed to invest some of our money. If yes, do we have to report that any money we've made from investments? (I sure hope not, because you'd think they would want us to save some of our money. I need to have 3 crowns done in the next year for my teeth, and that won't be covered, so I'd like to save that money)

There's an allowable retirement account up to age 59. I'd get the crowns in the first month.

Hope others have better answers.

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[Scott Young]

Anyone know anything about Ottawa and ODSP? Every municipality is different.

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From: odspfi...@googlegroups.com <odspfi...@googlegroups.com> on behalf of L B <justic...@gmail.com>
Sent: May 31, 2021 5:18 PM
To: odspfi...@googlegroups.com <odspfi...@googlegroups.com>
Subject: Re: [odspfireside: 52778 ] Re: Income Limits

 

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