As Canadians navigate through tax season in 2024, it's important to brush up on any new benefits and credits that the Government of Canada offers.
Considering the cost of living in Canada has risen exponentially in the last few years, it's safe to say Canadians are looking for ways to save money or programs offered by the federal government that can help offset inflation in Canada.
The new Canada Carbon Rebate (CCR), formerly called the Climate Action Incentive, is a tax-free amount provided to residents of the following Canadian provinces: Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island and Saskatchewan.
Depending on your province of residence, you can receive up to $225 from the Canada Carbon Rebate, including additional amounts if you're married, or have children.
With the first Canada Carbon Rebate payment going out this April, here is everything you need to know about the Canada tax credit.
What is the Canada Carbon Rebate?
According to the Canada Revenue Agency (CRA) the Canada Carbon Rebate is a tax-free sum designed to assist qualifying individuals and families in mitigating the expenses associated with federal pollution pricing.
It comprises a basic sum along with an additional supplement for inhabitants of small and rural areas.
Who is eligible for the Canada Carbon Rebate?
In addition to residing in the above provinces that receive the Canada Carbon Rebate credit, Canadians must be at least 19 years of age when the Canada Revenue Agency makes its payments.
If you aren't 19 years old, you must meet one of the following conditions:
- Have or had a spouse or common-law partner.
- Be or were a parent living with your child.
- Children already registered for CCB, GST/HST credit or CCR will be included in the CCR calculation.
- If your children are not registered or ineligible for CCB or GST/HST credit, register them for CCR using the RC66 Canada Child Benefits Application.
How much can you get from the Canada Carbon Rebate?
Per the CRA, the Canada Child Benefit amounts vary according to family status and province. It's not affected by adjusted family net income. Residents in small or rural areas receive a 10% supplement, set to increase to 20% from April 2024 for the 2023 base year pending Royal Assent.
The amounts differ depending on which province you live in. Find the total amounts below:
Alberta
The base amount is:
- $225 for an individual
- $112.50 for a spouse or common-law partner
- $56.25 per child under 19
- $112.50 for the first child in a single-parent family
- $45 for an individual
- $22.50 for a spouse or common-law partner
- $11.25 per child under 19
- $22.50 for the first child in a single-parent family
Manitoba
The base amount is:
- $150 for an individual
- $75 for a spouse or common-law partner
- $37.50 per child under 19
- $75 for the first child in a single-parent family
- $30 for an individual
- $15 for a spouse or common-law partner
- $7.50 per child under 19
- $15 for the first child in a single-parent family
New Brunswick
The base amount for New Brunswick is:
- $95 for an individual
- $47.50 for a spouse or common-law partner
- $23.75 per child under 19
- $47.50 for the first child in a single-parent family
- $19 for an individual
- $9.50 for a spouse or common-law partner
- $4.75 per child under 19
- $9.50 for the first child in a single-parent family
Newfoundland and Labrador
The base amount is:- $149 for an individual
- $74.50 for a spouse or common-law partner
- $37.25 per child under 19
- $74.50 for the first child in a single-parent family
- $29.80 for an individual
- $14.90 for a spouse or common-law partner
- $7.45 per child under 19
- $14.90 for the first child in a single-parent family
Nova Scotia
The base amount is:
- $103 for an individual
- $51.50 for a spouse or common-law partner
- $25.75 per child under 19
- $51.50 for the first child in a single-parent family
- $20.60 for an individual
- $10.30 for a spouse or common-law partner
- $5.15 per child under 19
- $10.30 for the first child in a single-parent family
Ontario
The base amount is:
- $140 for an individual
- $70 for a spouse or common-law partner
- $35 per child under 19
- $70 for the first child in a single-parent family
The rural supplement is:
- $28 for an individual
- $14 for a spouse or common-law partner
- $7 per child under 19
- $14 for the first child in a single-parent family
Prince Edward Island
The base amount for is:
- $110 for an individual
- $55 for a spouse or common-law partner
- $27.50 per child under 19
- $55 for the first child in a single-parent family
The rural supplement is included in the above base amounts, as all residents are eligible.
Saskatchewan
The base amount for is:
- $188 for an individual
- $94 for a spouse or common-law partner
- $47 per child under 19
- $94 for the first child in a single-parent family
The rural supplement is:
- $37.60 for an individual
- $18.80 for a spouse or common-law partner
- $9.40 per child under 19
- $18.80 for the first child in a single-parent family
How to get your Canada Carbon Rebate payments
Per the CRA, to receive your Canada Carbon Rebate payment on time, you and your spouse or common-law partner (if applicable), must have your income tax and benefit return filed electronically on or before March 15, 2024.
If your tax returns are processed after this date, your payment will be included in a subsequent payment after your return is assessed.
Canadians who receive their tax refunds via direct deposit will also receive the Canada Carbon Rebate via direct deposit. For those who are registered for direct deposit, you should see the CRA payments in your account marked as the "Canada Carbon Rebate."
When are the Canada Carbon Rebate payment dates?
If you’re entitled to receive the CCR, you can expect to receive your payments on the following dates in 2024:
- April 15
- July 15
- October 15
- January 15
Per the Canada Revenue Agency, if the 15th falls on a Saturday, Sunday, or a federal statutory holiday, the CCR payment will be made on the last business day before the 15th.
This article's cover image was used for illustrative purposes only.
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