Starting April 15, eligible Canadians will receive the first installment of the 2024-25 Canada Carbon Rebate, previously known as the Climate Action Incentive Payment.
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This rebate is part of the federal government’s strategy to offset the financial impact of carbon pollution pricing on fossil fuels, such as gasoline and natural gas, for residents where the federal system is in effect. The initiative aims to return the collected fuel charge to Canadians, with payments made quarterly through direct deposit or cheque.
The 2024 rebate comes in the wake of the federal carbon tax increase on April 1, from $65 to $80 per tonne, which is set to escalate by $15 annually, reaching $170 per tonne by 2030. Due to this increase, eligible Canadians residing in Alberta, Saskatchewan, Manitoba, Ontario and Atlantic provinces will receive increased payments in four equal payments on April 15, July 15, October 15, 2024, and January 2025.
To aid families in estimating their potential rebate amount, Environment and Climate Change Canada has introduced an online Canada Carbon Rebate estimator.
By answering four straightforward questions related to province of residence, eligibility for the rural supplement, marital status, and number of children, individuals can determine the rebate they might receive.
Credit: Canada.ca
Alberta families of four will receive the highest total of $1,800 ($450 per quarter), while New Brunswick will see the lowest at $760 ($190 per quarter). Other provinces fall within this range, with Manitoba at $1,200 ($300 quarterly), Ontario at $1,120 ($280 quarterly), Saskatchewan at $1,504 ($376 quarterly), Nova Scotia at $824 ($206 quarterly), Prince Edward Island at $880 ($220 quarterly), and Newfoundland and Labrador at $1,192 ($298 quarterly).
It is important to note that to receive the Canada Carbon Rebate on April 15, 2024, your submission of the 2023 income tax and benefit return should have been processed by March 15, 2024. Submissions processed after this deadline will likely result in the Canada Carbon Rebate being issued approximately 6 to 8 weeks following the assessment of your tax return.
— Canada Carbon Rebate estimator