Eligible Ontarians can look forward to additional funds in their bank accounts this month, as the second installment of the Canada Carbon Rebate will be distributed to qualified recipients starting tomorrow (July 15).
Formerly known as the Climate Action Incentive Payment, this tax-free initiative is designed to help Canadian families offset the ongoing cost of federal pollution pricing, specifically in households in small and rural communities.
In some provinces, the carbon rebate payments’ base amount has increased from 10 per cent to 20 per cent this year. These regions include:
Eligibility requires individuals to register as Canadian residents the month before the initial payment date, and they must live in a province where the rebate applies.
Ontario residents can find exact payment amounts using the calculator on the Canada Revenue Agency website. This tool provides specific estimates for each household in the province.
In addition, applicants must tick the box on page two of their income tax and benefit return to claim the rural supplement.
Following the July installment, the next two payments will be sent out on October 15 and January 15 (2025).
According to canada.ca, if the fifteenth of the month falls on a Saturday, Sunday, or federal holiday, the payment will be made on the last business day before the 15th.
If you receive your tax refund by direct deposit, you will receive your carbon rebate the same way.
Payments will appear in your bank account as “Canada Carbon Rebate,” although some banks may still show “Climate Action Incentive.”
If you do not receive your carbon rebate payments on the expected date, the CRA advises waiting ten working days before contacting them.
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