Canada Carbon Tax Rebate Payment Dates 2024:Check Quarterly and Annual Payments Schedule

Being one of the most expensive countries in the world, inflation in Canada is also reaching its peak. To provide some financial support to the people, the government of Canada has initiated a carbon tax rebate. This program was designed to reduce some financial stress of carbon pricing from the Canadian citizens. Let’s dive more into the details of the Carbon Tax Rebate in the below article. 

Canada Carbon Tax Rebate Payment Dates 2024

The Carbon Tax Rebate was previously known as Climate Action Incentive Payment. For the fiscal year 2024-25, the federal Canadian government is going to provide the Carbon Rebate on a quarterly basis. It is a tax-free payment which returns fuel charges to the Canadian citizens mainly aiming at the low-income families and individuals. The payment amount of rebate is given on the basis of which province they are residing in. 

The carbon tax rebate program is applied in the provinces of Manitoba, Alberta, Saskatchewan, Ontario, New Brunswick, Nova Scotia, Newfoundland, Labrador and PEI. The direct fuel charges are given back to the citizens within the province, as a quarterly rebate.

Highlights of Canada Carbon Tax Rebate 2024

Title	Canada Carbon Tax Rebate 2024
Country	Canada
Authority	Canada Revenue Agency (CRA)
Benefit Name	Carbon Tax Rebate
Beneficiaries	Low-income Canadian citizens
Payment Frequency	Quarterly (once in every three months)
Payment Amount	Varies according to the province
Post Category	Government Aid
Official Portal	https://www.canada.ca/

Increase in Carbon Tax Rebate for rural citizens

To make sure that the Carbon Tax Rebate will continue to financially assist the people of various provinces in Canada, the federal government of Canada is proposing a legislative amendment on Bill C-59 to increase the rebate amount from 10% to 20%. 

In 2024-25, the rural citizens of Canada are going to receive 20% top-up in the base amount of Canada Carbon Rebate. This increase has been announced to acknowledge their higher energy costs and cleaner transportation options. 

Quarterly and Annual Payments according to the Province 

Province	Quarterly Payment	Annual Payment
Alberta	$450	$1,800
Manitoba	$300	$1,200
Ontario	$280	$1,120
Saskatchewan	$376	$1,504
New Brunswick	$190	$760
Nova Scotia	$206	$824
Prince Edward Island (PEI)	$220	$880
Newfoundland and Labrador	$298	$1,192

In the above table you can see the detailed information about the payment amount of the Carbon Tax Rebate. A family of four is entitled to receive the rebate in 2024-2025. 

Who can receive the Carbon Tax Rebate?

1. Those who want to receive the Carbon Tax Rebate, must file their annual tax return each year. 
2. Rural citizens must check the equivalent boxes to ensure that they will receive the 20% top-up on their tax return.
3. There are two ways of receiving the Canada Carbon Tax Rebate. 

• Direct Deposit: Citizens who are already registered with the Canada Revenue Agency for direct deposit will directly receive the rebate in their bank accounts every three months. 
• Through Cheque: Those who are registered for direct deposit will receive their rebate through cheques. 

4. Please note, the individual who will file the tax return first will receive the carbon tax rebate on behalf of the entire family including children. 

Direct deposit is an easy and more efficient way of receiving the Carbon Tax Rebate, the federal government of Canada also enforces the financial institutions (banks) to promote direct deposits. 

All We Know 

The federal government of Canada has designed this rebate program in such a way that the people will get more benefit back then they pay. This rebate program aims mainly at the lower-income people. The carbon tax rebate base amount is $1,800 annually, per family. The amount of carbon tax rebate differs according to the cost-of-living and carbon expenses of each province. 

FAQs of Canada Carbon Tax Rebate 2024