6 d. ago Who’s eligible for the final federal carbon tax payment in Canada and when does it go out?

Carney killed the tax so the final payment 'is a refund for tax you never paid,' says Queens prof, adding this 'once-over thing' could cost between $2.7 and $3 billion

Economics

7 d. ago Canadians can expect April tax benefit payments earlier than usual

Eligible families can expect to get Canada's child tax benefit a little earlier this month.The monthly Canada Child Benefit (CCB) payment usually comes on the 20th of each month unless it lands on a weekend or statutory holiday.April 20 is a Saturday, and April 18 is Good Friday, so parents will get CCB deposits three days early on the 17th.The Canadian government increased the child tax payments by 4.7 per cent in July 2024, which was the beginning of the new benefit year. The maximum benefit for children under six increased by $350, from $7,437 to $7,787. For children aged six to 17, it increased by $295, from $6,275 to $6,570.Families can look forward to another increase in the child tax benefit payment in July 2025, but it will not be as big as last year's raise.The Canada Revenue Agency (CRA) says parents can expect a 2.7 per cent bump, bringing the annual base benefit for children under six from $7,787 to $7,997 ($666 monthly) and from $6,570 to $6,748 ($562 monthly) for child...

Economics

1 week ago Canadians are about to get their second GST payment for 2025

Canadians are just days away from receiving their second GST credit payment of the year.The goods and services tax/harmonized sales tax (GST/HST) credit is a tax-free quarterly payment. Its purpose is to help families with low and modest incomes offset the taxes they pay.Eligible Canadians will see extra cash in their bank accounts on Friday, April 4.Are you eligible for the GST payment?According to the government, those eligible are at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment.If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period:You have (or had) a spouse or common-law partnerYou are (or were) a parent and live (or lived) with your childParents who share custody may be eligible for half of the credit for that child.If your income is equal to or exceeds the amounts below, you or your family won't qualify for the credit....

Other

1 week ago Calgarians celebrate end of consumer carbon tax: “It’s a nice change”

Calgary drivers were happy to see a drop in fuel prices on Tuesday - as the end of the federal Consumer Carbon Tax took effect.

Economics

1 week ago Canada’s federal carbon tax experiment has ended. Here’s what it accomplished (not much)

According to government figures, the carbon footprint of a dollar earned in the Canadian economy has been in steep decline ever since peaking in 1996

Economics

1 week ago The last carbon rebate is coming. How much will Canadians get?

Canadians in eight provinces will receive the last carbon rebate later this month as the federal consumer carbon price comes to an end Tuesday.

Transport

3 w. ago Here's how the end of carbon tax in Canada will affect your everyday expenses

With the carbon tax set to be scrapped next month, Canadians may be wondering exactly how much this will affect gas and food prices in Canada.According to an analysis from Desjardins Economics released on Tuesday, Canadians can expect a drop in prices at the pump immediately, but it may take a while for their grocery bills to go down.The report comes after Prime Minister Mark Carney announced that the federal government would be axing the consumer carbon tax in Canada as of April 1. The final Canada Carbon Rebate (CCR) will still be issued that month, but you'll need to get your affairs in order to cash in.Desjardins predicts that inflation will be about 0.7 per cent lower in April 2025 than it would have been if the carbon tax stayed.More specifically, the report suggests that removing the price of pollution will drop gas prices by about $0.18 per litre on April 1 in provinces where the fuel charge is applied.In comparison, the carbon tax in Canada was...

Economics

3 w. ago What you need to do to get your final Canadian carbon tax rebate

If you want to cash in on the final carbon tax rebate, you will have to get some things in order in the next couple of weeks.Last Friday, Prime Minister Mark Carney scrapped the consumer carbon tax as his first move as Liberal Party leader."The consumer carbon tax was too divisive when we should be pulling together. That's why I took action to cancel it on day one," he posted on X.He announced last Friday that the fuel charge would be removed as of April 1 but that the Canada Carbon Rebate (CCR) would still be issued for that month.The carbon rebate, formerly known as the Canada Climate Action Incentive Payment (CAIP), is a quarterly, tax-free amount to help eligible individuals and families offset the cost of federal pollution pricing.According to a notice on the government's tax credits and benefits page, the final CCR payment will be issued starting April 22.However, to receive the payment, the government says individuals must have filed their 2024 income tax and benefi...

Economics

3 w. ago Consumers could find ’meaningful savings’ as carbon tax ends: Desjardins

Motorists in provinces using federal carbon pricing should notice a drop of almost 18 cents per litre

Economics

3 w. ago Fishermen say Trump’s DOGE budget cuts are preventing them from adopting climate

BREMEN, Maine (AP) — Commercial fishermen and seafood processors and distributors looking to switch to new, lower-carbon emission systems say the federal funding they relied on for this work is either frozen or unavailable due to significant budget cuts promoted by President Donald Trump’s Department of Government Efficiency. The changes are designed to replace old […]

Society