Updated on February 16, 2024
Hey there! Take a look at this post for all the details on the Canada Carbon Rebate Amounts for 2024-25. It covers the rebate amounts for the first and second adults, each child, and a family of four. Get the full scoop and stay informed!
Canada Carbon Rebate Amounts 2024-25
The Carbon Tax is a federal policy aiming to cut down greenhouse gas emissions that lead to climate change by putting a price on carbon dioxide emissions. Thanks to the quarterly Canada Carbon Rebate, the Canadian government is committed to giving a share of the carbon pricing benefits back to households.
Interestingly, eight out of ten families end up receiving more money through carbon tax rebates than what they initially pay, making them part of the positive side of the carbon pollution pricing system. The Canada Carbon Rebate Amounts, determined annually based on factors like family circumstances and the government’s carbon tax revenue, are subject to change. Stay tuned for updates!
If you want to dive deeper into the specifics of Canada Carbon Rebate Amounts for 2024-25, just keep scrolling through this article on our page. Get all the details you need!
What is Canada Carbon Rebate?
The main goal of the Federal Canada Carbon Rebate, also referred to as the Fed Climate Incentive Payment 2024, is to give back to Canadian families and individuals the funds collected through the federal carbon pricing program. This rebate payment helps offset the increased costs that customers face due to the federal carbon price.
This program encourages both companies and customers to opt for greener, more sustainable products by raising the prices of carbon-intensive goods. It ensures a fair distribution of public funds generated through carbon pricing, prioritizing lower-income individuals who might be more affected by the increased prices.
Canada Carbon Rebate Amount Details
In the 2024-2025 period, a family of four in provinces with the federal fuel levy can expect up to $1,800 through the standard Canada Carbon Rebate. The first quarterly payment kicks in for eligible provinces in April 2024, followed by installments in July, October, and January 2025.
For folks in small rural areas, there’s an extra 10% rural supplement, increasing to 20% from April 20, 2024. The Carbon Tax Rebate is typically paid on April, July, October, and January 15th each year. If the 15th falls on a weekend or a federal holiday, the payment lands on the last working day before.
First & Second Adult, Each Child and Family of 4
Each province in Canada has its own unique approach to the Canada Carbon Rebate program, influenced by their individual agreements with the federal government and the revenue collected from carbon emitters. Here’s a breakdown for different provinces:
- Alberta:
- First adult: $193
- Second adult: $96.50
- Each child: $48.25
- Family of 4: $386
- Manitoba:
- First adult: $132
- Second adult: $66
- Each child: $33
- Family of 4: $264
- Ontario:
- First adult: $122
- Second adult: $61
- Each child: $30.50
- Family of 4: $244
- Saskatchewan:
- First adult: $170
- Second adult: $85
- Each child: $42.50
- Family of 4: $340
- Nova Scotia:
- First adult: $124
- Second adult: $62
- Each child: $31
- Family of 4: $248
- Newfoundland and Labrador:
- First adult: $164
- Second adult: $82
- Each child: $41
- Family of 4: $328
- Prince Edward Island:
- First adult: $120
- Second adult: $60
- Each child: $30
- Family of 4: $240
- New Brunswick:
- First adult: $92
- Second adult: $46
- Each child: $23
- Family of 4: $184
- British Columbia:
- First adult: $447
- Second adult: $223.5
- Each child: $111.50
Notably, Yukon, Nunavut, Quebec, and the Northwest Territories are not part of the Canada Carbon Rebate program. Each territory has developed its own measures to ease the financial burden on residents. Yukon, for instance, has committed to returning every nickel it receives in carbon fees back to its population since the federal government does not collect gas taxes in these territories.
How to Get Canada Carbon Rebate?
To snag your Canada Carbon Rebate, don’t forget to file your annual tax return. Rural residents aiming for the extra rural top-up should make sure to check the applicable box on their tax forms. If you’ve signed up for direct deposit with the Canada Revenue Agency, expect your rebate to land in your bank account every three months. Otherwise, a good old-fashioned cheque will be on its way.
Here’s a pro tip: The first person to file the tax return, whether single, married, or in a common-law partnership, snags the full Canada Carbon Rebate amount for everyone in the household, including the kiddos.
To make things smoother, the federal government suggests banks label the Canada Carbon Rebate direct payments in a consistent manner for Canadians.
Thanks for sticking around our post for the lowdown on Canada Carbon Rebate Amounts for 2024-25. We appreciate your interest!