THUNDER
BAY, ON, July 15, 2024 /CNW/ - Building fairness
for every generation means combatting pollution and the
devastating impacts of climate change while making everyday life
more affordable for Canadians. Canada's approach to pricing carbon pollution
achieves both.
Today, the Honourable Patty Hajdu, Minister of Indigenous
Services and FedNor, and Member of Parliament for Thunder Bay – Superior North, was in
Thunder Bay, ON to highlight that
today is the final opportunity for small businesses in Ontario to file their tax returns to benefit
from the first payment of the Canada Carbon Rebate for Small
Businesses.
The Canada Carbon Rebate for Small Businesses is a new
rebate that will return $2.5 billion
from the proceeds collected from the price on carbon pollution
in Ontario through an automatic refundable tax credit to
an estimated 600,000 small businesses that operate in provinces
where the pollution pricing system applies.
Today, is also the date when households in Ontario will
start receiving their latest quarterly Canada Carbon Rebate
payments, with eight out of ten households get back more money
through these rebates than they pay.
In Ontario, quarterly payments
by household today are:
- First adult: $140
- Second Adult: $70
- Each child: $35
- Total for a family of four: $280
To further recognize rural Canadians' higher energy needs and
more limited access to cleaner transportation options, the
government doubled the rural supplement available for
households in rural areas and smaller communities from 10 percent
to 20 per cent of their Canada Carbon Rebate base amount.
To estimate their potential rebate, eligible residents can use
the Canada Carbon Rebate estimator tool.
Carbon pollution pricing is the
cornerstone of Canada's
comprehensive plan to lower emissions and build a more sustainable
and prosperous future for all Canadians.
Quotes
"The Canada Carbon Rebate is the single most effective measure
to fight climate change. It is only fair for younger generations
that we have it in place. It also means people in Northern Ontario are getting a rebate in their
bank accounts, with 8 out of 10 people getting more money back than
what they paid. We are taking action to fight climate change and
make life more affordable for people in Northern Ontario.
- The Honourable Patty Hajdu,
Minister of Indigenous Services and FedNor
Quick facts
- Carbon pollution pricing is
the simplest and most cost-effective way to cut the pollution
driving climate change and build a cleaner economy.
- Canada Carbon Rebate payments are made every three months via
direct deposit or cheque to eligible households who have filed
their 2023 personal income tax return.
- The first of four quarterly Canada Carbon Rebate payments for
the federal pollution pricing system was issued in mid-April 2024, with subsequent quarterly
payments coming in mid-July, mid-October, and mid-January 2025.
- The Canada Carbon Rebate for Small Businesses was first
announced in Budget 2024.
- The Canada Carbon Rebate for Small Businesses is estimated to
return fuel charge proceeds from 2019-2020 through 2023-2024 to
approximately 600,000 businesses that operate in provinces where
the federal fuel charge applies.
- The Canada Carbon Rebate for Small Businesses will be available
to eligible Canadian-controlled private corporations (CCPCs) that
had 499 or fewer employees throughout Canada in the calendar year in which the fuel
charge year begins and file their 2023 corporate income tax return
no later than July 15,
2024.
Associated links
- How Carbon Pricing Works
- How pollution pricing reduces emissions
- Canada Carbon Rebate Amounts for 2024–2025
- Canada Carbon Rebate
Environment and Climate Change Canada's X (Twitter) page
Environment and Climate Change Canada's Facebook page
SOURCE Indigenous Services Canada