Federal carbon rebate to be distributed this week

Posted: October 14, 2024 2:39 pm
By Jodi Cooke

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Check your bank accounts. The Canada Carbon Rebate quarterly installment lands this week for those who are up to date on their tax filings. The Canada Carbon Rebate, formerly known as the Climate Action Incentive Payment, is a tax-free amount to help eligible individuals and families offset the cost of the federal pollution pricing. It consists of a basic amount and a supplement for residents of small and rural communities.

In June, the federal government increased the rural supplement from 10 to 20 per cent of the base amount and eligibility reverts back to using 2016 Census data. Owners of small and medium-sized businesses will receive their long-awaited carbon pricing refunds before the end of this year. The federal government will send more than $2.5 billion to about 600,000 Canadian businesses in December.

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