Many Ontarians got a double carbon tax rebate on Friday.
The Climate Action Incentive Payment (CAIP) is a tax-free amount paid to individuals in Ontario, Alberta, Saskatchewan and Manitoba to help offset the cost of the federal carbon tax.
The four provinces are the only ones with federal pricing systems in place.
Read more: Albertans to get a double carbon tax rebate this week
All other provinces have their own carbon pricing systems that meet minimum federal standards.
The federal government claims that the amount people receive through CAIP is more than they pay as a result of the federal carbon pricing system.
The payment made to Ontarians on Friday included a retroactive amount for April.
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According to the federal government’s website, Ontarians can expect a total credit of $373 in 2021 for an individual, $186 for a spouse or civil partner, $93 for a child under 19 and $186 for the first child in a single-parent family.
For residents of small and rural settlements, the payment includes a rural supplement of 10 percent of the basic amount.
In 2022, for the first time, the rebate is paid quarterly — with payments on April 15, July, October and the following January. Previously, it could be claimed as a refundable tax credit.
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“Once your 2021 Income Tax and Benefits return has been processed and if you are eligible, the first payment will be made on 15 July 2022 and will include a retroactive amount for April 2022,” the federal government says.
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“If you receive your tax refund via direct deposit, you will also receive your CAIP via direct deposit.
“If you have a tax debt with the CRA, CAIP will apply to amounts owed on income tax balances or amounts owed to other federal or provincial government programs.”
If the CAIP is not received on the expected date, the government asks you to wait 10 working days before contacting them.
— With files from The Canadian Press
If you are eligible for the Climate Action Incentive Payment, you will receive your payments on the 15th day of:
📆 July 2022 (includes April backdated payment) 📆 October 2022 📆 January 2023
More info ➡️ #CdnTax pic.twitter.com/6GQtryBlAy
— Canada Revenue Agency (@CanRevAgency) July 14, 2022
© 2022 Global News, a division of Corus Entertainment Inc.
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