First 2024 Canada carbon rebates will be deposited for some Canadians
The first instalment of the 2024 Canada carbon rebate will be delivered to some Canadians Monday as long as they filed their taxes by the middle of March.
Canadians living in Alberta, Saskatchewan, Manitoba, Ontario, and all four Atlantic provinces will receive the first of four instalments Monday if they filed their 2023 taxes by March 15.
Those who filed their taxes since March 15 will see their first instalment on May 15, while those who file after Monday will wait until June or July.
The payments are based on household size and for a family of four range from $190 in New Brunswick to $450 in Alberta.
Ottawa also has just launched a new online estimator that shows how much you should get from the rebates.
In a bid to make the rebates more understandable Ottawa renamed them the "Canada Carbon Rebate" this year but is still negotiating with the big banks about changing how the deposits are labelled when they show up in your account.
Ottawa has been battling with banks about how the deposits are labelled since they moved to quarterly payments for the rebates in 2022.
Many Canadians were confused, or didn't realize they even got the rebate, when payments showed up with vague labels including "EFT deposit from Canada", "EFT Credit Canada." or sometimes just "federal payment."
The federal government asked the banks to help label them with the old moniker — the climate action incentive payment — but some didn't arguing they had a 15 character limit for deposit description.
The deposits will be labelled different depending on where you bank, with some going with the full Canada Carbon Rebate name, others shortening it "CDACarbonRebate" or "Canada CCR/RCC."
In French, the labels could be "Carbone RemiseCA" or "Dépôt direct/Remise canadienne sur carbone."
The rebates are sent to offset what people pay in carbon pricing when they buy fuel so they're not left worse off as a result.
People who do things to lower their fuel use are even better off because they still get the same rebate but pay less in carbon pricing.
The rebate amounts are set annually based on how much carbon price Ottawa expects to collect in each province.
British Columbia, Quebec and Northwest Territories have their own carbon pricing system for consumers so residents there don't receive the federal payment. Yukon and Nunavut use the federal system but have an agreement to distribute the proceeds themselves.
The parliamentary budget officer says about 80 per cent of Canadians get back more from the rebates than they pay.
He also says though that the economic impact of carbon pricing could lower wages over time, erasing that benefit for some Canadians. The government however argues that climate change itself can cause economic harm if it is left unchecked.
This report by The Canadian Press was first published April 15, 2024.
IN DEPTH
Budget 2024 prioritizes housing while taxing highest earners, deficit projected at $39.8B
In an effort to level the playing field for young people, in the 2024 federal budget, the government is targeting Canada's highest earners with new taxes in order to help offset billions in new spending to enhance the country's housing supply and social supports.
'One of the greatest': Former prime minister Brian Mulroney commemorated at state funeral
Prominent Canadians, political leaders, and family members remembered former prime minister and Progressive Conservative titan Brian Mulroney as an ambitious and compassionate nation-builder at his state funeral on Saturday.
'Democracy requires constant vigilance' Trudeau testifies at inquiry into foreign election interference in Canada
Prime Minister Justin Trudeau testified Wednesday before the national public inquiry into foreign interference in Canada's electoral processes, following a day of testimony from top cabinet ministers about allegations of meddling in the 2019 and 2021 federal elections. Recap all the prime minister had to say.
As Poilievre sides with Smith on trans restrictions, former Conservative candidate says he's 'playing with fire'
Siding with Alberta Premier Danielle Smith on her proposed restrictions on transgender youth, Conservative Leader Pierre Poilievre confirmed Wednesday that he is against trans and non-binary minors using puberty blockers.
Supports for passengers, farmers, artists: 7 bills from MPs and Senators to watch in 2024
When parliamentarians return to Ottawa in a few weeks to kick off the 2024 sitting, there are a few bills from MPs and senators that will be worth keeping an eye on, from a 'gutted' proposal to offer a carbon tax break to farmers, to an initiative aimed at improving Canada's DNA data bank.
Opinion
opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster
A Hail Mary rehash of the greatest hits from the Trudeau government’s three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party’s popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?
opinion Don Martin: The doctor Trudeau dumped has a prescription for better health care
Political columnist Don Martin sat down with former federal health minister Jane Philpott, who's on a crusade to help fix Canada's broken health care system, and who declined to take any shots at the prime minister who dumped her from caucus.
opinion Don Martin: Trudeau's seeking shelter from the housing storm he helped create
While Justin Trudeau's recent housing announcements are generally drawing praise from experts, political columnist Don Martin argues there shouldn’t be any standing ovations for a prime minister who helped caused the problem in the first place.
opinion Don Martin: Poilievre has the field to himself as he races across the country to big crowds
It came to pass on Thursday evening that the confidentially predictable failure of the Official Opposition non-confidence motion went down with 204 Liberal, BQ and NDP nays to 116 Conservative yeas. But forcing Canada into a federal election campaign was never the point.
opinion Don Martin: How a beer break may have doomed the carbon tax hike
When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.
CTVNews.ca Top Stories
Trump returns to his campaign facing a warning of jail time if he violates a trial gag order
Donald Trump on Wednesday will use a one-day break from his hush money trial to rally voters in the battleground states of Wisconsin and Michigan, a day after he was held in contempt of court and threatened with jail time for violating a gag order.
Ontario woman surprised after 20-year-old fines suddenly tank credit score
An Ontario woman says that she was shocked when fines from 20 years ago suddenly tanked her credit score last week, but the situation may not be as unusual as it seems, according to at least one debt expert.
Anger can harm your blood vessel function, study shows
Stress and anger can have a negative impact on cardiovascular health, studies have shown. New research points to just how the mechanism may work.
Freeland leaves capital gains tax change out of coming budget implementation bill, here's why
Deputy Prime Minister and Finance Minister Chrystia Freeland will be tabling yet another omnibus bill to pass a sweeping range of measures promised in her April 16 federal budget, though left out of the legislation will be the government's proposed capital gains tax change.
Swarm of bees delays Arizona Diamondbacks vs. Los Angeles game in Arizona. An 'MVP' beekeeper came to the rescue
Major League Baseball fans had an unexpected buzz on Tuesday after a swarm of bees delayed the Arizona Diamondbacks vs. Los Angeles Dodgers game for around two hours.
Newfoundland fisherman says police broke his leg during protest that delayed budget
Richard Martin is spending this year's fishing season on land after he says a Royal Newfoundland Constabulary officer broke his left leg in three places during a protest last month that shut down the provincial legislature.
A 98-year-old in Ukraine walked miles to safety from Russians, with slippers and a cane
A 98-year-old woman in Ukraine who escaped Russian-occupied territory by walking almost 10 kilometres (six miles) alone, wearing a pair of slippers and supported by a cane has been reunited with her family days after they were separated while fleeing to safety.
It's opening day for the $34B Trans Mountain oil pipeline expansion
Wednesday marks the official start date of the long-awaited $34-billion Trans Mountain oil pipeline expansion project.
Will an 'out of sight, out of mind' cellphone policy make a difference in Ontario schools?
Ontario’s cellphone ban in schools has been met with mixed reaction, with some teachers concerned about constant policing of kids and experts applauding the change as necessary for student learning.
Local Spotlight
Quebec police officer anonymously donates kidney, changes schoolteacher's life
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Canada's oldest hat store still going strong after 90 years
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Road closed in Oak Bay, B.C., so elephant seal can cross
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
B.C. breweries take home awards at World Beer Cup
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Kitchener family says their 10-year-old needs life-saving drug that cost $600,000
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.
Haida Elder suing Catholic Church and priest, hopes for 'healing and reconciliation'
The lawyer for a residential school survivor leading a proposed class-action defamation lawsuit against the Catholic Church over residential schools says the court action is a last resort.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
Fergus, Ont. man feels nickel-and-dimed for $0.05 property tax bill
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
Twins from Toronto were Canada's top two female finishers at this year's Boston Marathon
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.