Supporting Canadians and fighting climate change with July Canada Carbon Rebate and small business tax credit in Ontario

From: Indigenous Services Canada

News release

July 15th, 2024 — Thunder Bay, Ontario

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: Canada Carbon Rebate amounts for 2024–2025

  • 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

Contacts

Kaitlin Power
Senior Press Secretary and Communications Advisor
Office of the Minister of Environment and Climate Change
819-230-1557
Kaitlin.Power@ec.gc.ca

Media Relations
Environment and Climate Change Canada
819-938-3338 or 1-844-836-7799 (toll-free)
media@ec.gc.ca

Environment and Climate Change Canada’s X (Twitter) page

Environment and Climate Change Canada’s Facebook page

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