Carbon Tax Rebate 2024, including when the payments will be issued and how much you can expect to receive. Keep reading to find out how the rebate will work if you pay the Carbon Tax in Canada.
Canada Carbon Tax Rebate 2024
The Carbon Tax, also known as the Fuel Charge, is a levy imposed on the carbon content of fuels at the federal, provincial, or territorial level in Canada. Starting in 2023, the minimum rate was established at CA$65 per tonne of CO2, with a scheduled increase to CA$170 by 2030. To mitigate the financial impact of this tax on residents in New Brunswick, Ontario, Alberta, Saskatchewan, and Manitoba, the Canada Revenue Agency (CRA) will soon distribute the Carbon Tax Rebate 2024.
Residents living in one of these provinces are eligible for the Carbon Tax Rebate, which will be provided in four equal, tax-free instalments throughout the year. This rebate is intended to help counterbalance the federal pollution pricing system and includes an additional amount for individuals residing in small or rural communities.
Carbon Tax Rebate Cheque Dates 2024
The Canadian government has revised the Carbon Tax Rebate method, known as the Climate Action Incentive Payment (CAIP). Previously, taxpayers would receive the rebate once a year when they filed their income tax returns. However, starting in July 2022, the payment system has changed to tax-free quarterly instalments. Commencing on July 1, July 2 1esidents, Newfoundland and Labrador, Prince Edward Island, and Nova Scotia will get their federal fuel charge rebate in three equal payments during the first year and four quarterly payments in the subsequent years.
How Much Can You Expect?
The rebate amount will depend on your household’s situation and location. However, the Carbon Tax Rebate is available to everyone and will not be decreased based on your family’s adjusted income. Here is a chart that shows the payment amounts for the 2022 base year under the Climate Action Incentive Fund (CAIF):
Province |
Individual |
Couple |
Per Child Under 19 |
First Child (Single-Parent) |
|---|---|---|---|---|
Ontario |
$488 |
$244 |
$122 |
$244 |
Alberta |
$772 |
$386 |
$193 |
$386 |
Saskatchewan |
$680 |
$340 |
$170 |
$340 |
Manitoba |
$528 |
$264 |
$132 |
$264 |
Nova Scotia |
$124 |
$62 |
$31 |
$62 |
New Brunswick |
$92 |
$46 |
$23 |
$46 |
Newfoundland & Labrador |
$164 |
$82 |
$41 |
$82 |
Prince Edward Island |
$120 |
$60 |
$30 |
$60 |
New Brunswick residents should note that the payment for October 2023 will consist of two instalments, covering the periods from July to September and October to December 2023. Individuals residing in rural areas can receive an extra 10% rural supplement, which will be retroactively applied to the 2022 base year if they respond to the rural supplement question on their 2023 income tax return.
When to Expect Your Payment?
Residents in the eligible provinces mentioned earlier will get their Carbon Tax Rebate 2024 on January and April 15. If April 15 falls on a weekend or federal holiday, the payment will be made on the last business day before that date.
For instance, if October 1Octo1 October Sunday, recipients can expect to receive their CAIP on thollowing Monday. The rebate will be directly transferred into your account if you have signed up for direct deposit. However, if you owe taxes to the CRA, the rebate may be used to offset any outstanding tax debt.
If you do not receive your payment within ten days of the scheduled date, you should contact the CRA using the phone numbers below.
How Do You Know If You’re Eligible for the Carbon Tax Rebate?
Determining eligibility for the Climate Action Incentive Fund (CAIF) is straightforward. You are eligible if you are a Canadian resident for income tax purposes at the beginning of the month when the CRA issues the payment.
Additionally, you must meet the following criteria:
When the CRA makes the quarterly payments, you must be 19 years or older. If you are under 19, you are eligible if you are married, have a common-law partner, or are a parent living with your child. Please refer to our other articles for more information on the Carbon Tax Rebate.
For Additional Information
To find out more about the Carbon Tax Rebate, you can Click Here or call the CRA’s official contact numbers:
- 1-888-863-8662 for benefit-related inquiries.
- 1-888-863-8657 for tax return-related questions.
Don’t hesitate to contact the CRA if you need help understanding your eligibility or the rebate amount.
Click the link to learn more.
