The Canadian government has announced the Canada Carbon Rebate (CCR) amounts for the 2024-25 year. This rebate, previously known as the Climate Action Incentive payment (CAIP), is a way for the government to return the proceeds of carbon pollution pricing to families in provinces where the federal backstop system applies. The name change to Canada Carbon Rebate was made to make its function more transparent and intuitive for Canadians.
Starting in April, a family of four will receive the following rebates:
– $1,800 in Alberta ($450 quarterly)
– $1,200 in Manitoba ($300 quarterly)
– $1,120 in Ontario ($280 quarterly)
– $1,504 in Saskatchewan ($376 quarterly)
– $760 in New Brunswick ($190 quarterly)
– $824 in Nova Scotia ($206 quarterly)
– $880 in Prince Edward Island ($220 quarterly)
– $1,192 in Newfoundland and Labrador ($298 quarterly)
The Canada Carbon Rebate is a tax-free amount to help eligible individuals and families offset the cost of federal pollution pricing. It is paid quarterly and is available to eligible residents 19 years and older from certain provinces.
Individuals who file their taxes electronically by March 15, 2024, should receive the next CCR payment on April 15, 2024. Those who file after March 15, 2024, will receive their payment after their returns have been assessed. To receive the CCR, individuals must file their tax and benefit returns each year. Both married or common-law partners must file or provide their spouse or partner’s income on their tax and benefit returns.
It is important to note that although the name has changed to Canada Carbon Rebate, financial institutions may still refer to it as CAIP in the short term. This detail will not impact eligibility or the amount received. If a payment does not arrive as expected, individuals should wait ten business days before contacting the CRA.