The Carbon Tax Rebate 2024, also known as the Climate Action Incentive Payment (CAIP), helps Canadians offset the federal carbon tax, or fuel charge.
If you live in New Brunswick, Ontario, Alberta, Saskatchewan, Manitoba, or other participating provinces, you may be eligible for these payments.
The goal of the rebate is to provide financial relief and encourage greener practices by offsetting the costs associated with Canada’s carbon pricing.
This article covers everything you need to know about the Carbon Tax Rebate 2024, including cheque dates, payment amounts, and eligibility requirements.
Carbon Tax Rebate 2024 Overview
In Canada, the Carbon Tax is a fee imposed on the carbon content of fuels. As of 2023, the tax is CA$65 per tonne of CO2, and it’s set to rise to CA$170 by 2030. The tax is applied provincially or territorially, and the Canada Revenue Agency (CRA) offers quarterly rebates to eligible residents to offset these costs.
The rebate amount varies by province and is given out in four equal instalments. These payments are tax-free and not reduced based on income levels. In addition, those living in small and rural communities may receive an extra 10% to their rebate.
Cheque Dates for Carbon Tax Rebate 2024
As of July 2022, the CRA transitioned from annual rebates (claimed through tax returns) to quarterly payments. These payments are scheduled to arrive in April, July, October, and January, on the 15th of each month.
However, if the 15th falls on a weekend or federal holiday, payments are disbursed on the last business day before the 15th.
For October 2024, the 15th falls on a Sunday, meaning recipients can expect their payment to be deposited on Monday, October 16.
Here’s a quick look at the 2024 Carbon Tax Rebate payment schedule:
| Payment Month | Expected Payment Date |
|---|---|
| April 2024 | April 15, 2024 |
| July 2024 | July 15, 2024 |
| October 2024 | October 16, 2024 (Monday) |
| January 2025 | January 15, 2025 |
Carbon Tax Rebate Amounts for 2024
The rebate amount varies by province and household size. Below is a table showing estimated payments for individuals, couples, and children under 19, based on the 2022 base year:
| Province | Individual | Couple | Per Child Under 19 | First Child in Single-Parent Family |
|---|---|---|---|---|
| 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 and Labrador | $164 | $82 | $41 | $82 |
| Prince Edward Island | $120 | $60 | $30 | $60 |
Note: New Brunswick residents will receive a double payment in October to cover both July to September 2023 and October to December 2023.
Rural Supplement and Additional Payments
If you live in a small or rural community, you may qualify for an extra 10% payment on top of the base rebate. The CRA calculates this supplement based on the information you provide in your income tax return.
How to Receive the Carbon Tax Rebate
The CRA deposits the rebate directly into your bank account, provided you’ve signed up for direct deposit.
If you prefer receiving a cheque, ensure your mailing address is up to date with the CRA. Be aware that any tax debts you owe may be deducted from your rebate.
If you haven’t received your payment by the expected date, the CRA advises waiting at least 10 days before contacting them. For inquiries, call:
- For benefit debt: 1-888-863-8662
- For tax return debt: 1-888-863-8657
Eligibility for the Carbon Tax Rebate
To qualify for the Climate Action Incentive Payment in 2024, you must meet the following criteria:
- Canadian resident: You must be a resident for tax purposes at the start of the payment month.
- Age requirement: You need to be 19 years old or older at the time of payment. If under 19, you must have:
- Been married or previously married.
- A child and live with them.
Important Notes
- If you have a tax debt with the CRA, your rebate may be adjusted to cover outstanding amounts.
- Ensure that the information on your 2023 tax return is correct, particularly if you live in a rural area, as this could impact your rebate.
- Payments are made automatically if you’ve filed your taxes and qualify; no separate application is needed.
The Carbon Tax Rebate 2024 aims to provide timely financial relief, especially as carbon prices continue to rise. Ensure you’re familiar with the payment schedule and eligibility requirements to receive the maximum benefit.
FAQs
When is the next Carbon Tax Rebate payment?
The next payment is on October 16, 2024.
How is the rebate amount calculated?
It depends on your province, family size, and rural status.
Can the rebate be reduced?
No, the rebate is not reduced based on income, but it may be adjusted for tax debts.
How do I receive the rebate?
The rebate is automatically deposited into your bank account or sent by cheque.
Can I apply for the Carbon Tax Rebate?
No need to apply; if you’re eligible, you will receive the rebate automatically.
