Carbon price rebate rolling out to more Canadians. How much will you get?
More Canadians will begin receiving Ottawa’s climate incentives starting Friday.
From July 14th to July 21st, Canadians in the Maritime Provinces, Ontario and Prairie regions will receive tax-exempt payments through the Canada Revenue Agency to offset the cost of federal pollution pricing. become.
New this year, residents of Newfoundland and Labrador, Nova Scotia and Prince Edward Island will be eligible for payment. This is because Ottawa introduced a federal fuel tax in those states on his July 1st.
Previously, climate incentives were only available to residents of Alberta, Ontario, Saskatchewan and Manitoba. States that do not have a carbon pricing plan that meets federal standards are subject to the federal pollution pricing system.
The federal carbon pricing plan also includes a 10 percent surcharge for residents of small rural areas.
The City of Ottawa said 90% of its direct revenues from federal fuel taxes go to individuals and families through pollution price rebates paid to eligible individuals every three months. The remaining 10% of the proceeds will go to high-emission, trade-exposed SMEs and indigenous groups.
The federal government said carbon pollution pricing is: “Most efficient policy” Reduce greenhouse gas emissions and promote clean innovation.up to date National inventory report A breakdown of Canada’s emissions shows a 7.4% reduction in emissions between 2019 and 2021.
How much money will I receive?
According to Treasury Department projections, eligible Canadians are expected to receive the following benefits:
In Alberta, you can expect $193 for individuals, $96.50 for spouses or common-law partners, and $48.25 for each child under the age of 19.
In Manitoba, it’s $132 for an individual, $66 for a spouse or common-law partner, and $33 for a child under the age of 19.
In Ontario, you can expect $122 for an individual, $61 for a spouse or common-law partner, and $30.50 for each child under the age of 19.
In Saskatchewan, $170 for an individual, $85 for a spouse or common-law partner, and $42.50 for each child under the age of 19.
In Newfoundland, you can expect $164 for individuals, $82 for spouses or common-law partners, and $41 for each child under the age of 19.
In Nova Scotia, it’s $124 for an individual, $62 for a spouse or common-law partner, and $31 for a child under the age of 19.
In Prince Edward Island, it costs $120 for an individual, $60 for a spouse or common-law partner, and $30 for each child under the age of 19.
In New Brunswick, it’s $92 for individuals, $46 for spouses or common-law partners, and $23 for each child under the age of 19.
With New Brunswick recently requiring a federal carbon price, each household will receive the first pollution price rebate payment as a double payment in October 2023, and the second in January 2024, according to the City of Ottawa. It will be paid quarterly.
Where can I see my payment?
The government said that if tax refunds were received in direct deposits, climate payments would also be received in direct deposits.
It may take up to 10 business days for your payment to arrive by email.
If you have a spouse or common-law partner, only one of them can get family credit. This deduction is paid to the person who originally filed the tax return. Ottawa said the amount is the same regardless of who receives the credit.
Additionally, if the Canada Revenue Agency has a tax liability, the carbon price payment will apply to any outstanding income tax balances or outstanding due to other federal or state government programs, Ottawa added.
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