02/23/2024
2024-25 amounts announced for the Canada Carbon Rebate (previously known as the Climate action incentive payment)
The Canada Carbon Rebate (CCR) (previously known as the Climate action incentive payment (CAIP)) is how the federal government returns the proceeds of carbon pollution pricing to families in provinces where the federal backstop system applies. The name was updated to the Canada Carbon Rebate to clarify its function and make its meaning and relationship to the carbon pricing system more intuitive for Canadians.
The government recently announced the 2024-25 amounts for the CCR.
Starting this April, a family of four will receive Canada Carbon Rebates of:
• $1,800 in Alberta ($450 quarterly)
• $1,200 in Manitoba ($300 quarterly)
• $1,120 in Ontario ($280 quarterly)
• $1,504 in Saskatchewan ($376 quarterly)
• $760 in New Brunswick ($190 quarterly)
• $824 in Nova Scotia ($206 quarterly)
• $880 in Prince Edward Island ($220 quarterly)
• $1,192 in Newfoundland and Labrador ($298 quarterly)
The Canada Carbon Rebate is a tax-free amount to help eligible individuals and families offset the cost of federal pollution pricing. It is paid quarterly in April, July, October and January and is available to eligible residents 19 years and older from Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Newfoundland, Nova Scotia and Prince Edward Island.
Individuals who file their taxes electronically by March 15, 2024, should receive the next CCR payment on April 15, 2024. Those who file after March 15, 2024, will receive their payment later after their returns have been assessed. To receive the CCR, individuals must file their tax and benefit return each year. For married or common-law partner, they both have to file or provide their spouse or common law partner’s income on their tax and benefit return.
Please note that the name change to Canada Carbon Rebate may not be reflected immediately by financial institutions and the name of the direct deposit payment may still use a version of CAIP in the short term. It does not impact an individual’s eligibility for the payment or the amount they will receive, and there should be no interruption to scheduled spring payments. However, if your client’s payment does not arrive as anticipated, please advise them to wait 10 business days before contacting the CRA.
