If you filed your taxes by March 15, you might want to check your bank account!
Those who filed their taxes early can expect their first Canada Carbon Rebate (CCR) payment of 2024 today! Formerly known as the Climate Action Incentive Payment, the CCR is a tax-free, quarterly payment meant to offset the cost of federal pollution pricing.
So, how much can you expect to receive?
A single person living in Ontario with no children can expect to receive $140.
A married couple in Ontario can expect $210 per month, plus another $35 per eligible child who is under the age of 19.
A single parent in Ontario would receive a quarterly payment of $140, an additional $70 for their first eligible child under 19 years old, and another $35 for every other eligible child under 19.
Married Canadians will only receive one payment per family, and the partner who files their taxes first will receive the payment.
Residents of Canada do not have to worry about applying for the CCR, and they will receive the payments they are entitled to after they file their income tax and benefit returns. This includes Canadians who have no income to report.
People who filed their taxes after March 15 can expect to get their first CCR payment six to eight weeks after their tax return has been assessed.
There is a supplemental amount of money available for people living in rural and small communities. To claim the additional money, residents have to check off a box declaring this on page two of their tax return.
Canadians can find out more about how much money they can expect to receive thanks to the rebate here.
Those who owe money to the CRA can have the CCR applied to their tax debt for income tax balances or other federal or provincial programs.
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