You Can Get Money From The New Canada Carbon Rebate Soon But You Need To Do This

The new Canada Carbon Rebate, which used to be known as the climate action incentive payment, is giving out money to Canadians in April.

But your payment could be delayed if you don't complete this necessary step soon.

The Canada Carbon Rebate is a quarterly tax-free payment that's meant to help individuals and families offset the cost of federal pollution pricing.

It has a basic amount and a supplement for people living in small and rural communities.

The climate action incentive payment was revamped in February to the Canada Carbon Rebate — also called the CCR — with the first payments going out to Canadians in April.

It's available to residents in Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, P.E.I., Nova Scotia, and Newfoundland and Labrador.

You're eligible for the CCR if you are:

• a resident of Canada in the month before the payment
• a resident of a CCR province on the first day of the payment month
• either at least 19 years old in the month before the payment or under 19 and had a spouse, common-law partner or child

Canada Revenue Agency recently put out a notice that your CCR payment could be delayed and it all depends on when you do your 2023 income tax return.

The CCR payment date in April — the 15th — is before the deadline to file taxes in Canada which is April 30, 2024.

If you file your taxes electronically by March 15, 2024, you should receive your next CCR payment on April 15, 2024, as usual.

But if you file after March 15, 2024, you'll receive your money after the April payment date once your return has been assessed.

That's because CCR is based on households and both spouses or common-law partners need to file.

Also, the CCR includes a rural supplement for residents of small and rural communities that needs to be claimed on page two of your 2023 income tax and benefit return.

So, if you get your tax return in right at the filing deadline this year, your money could be delayed by weeks, a month, or even more than a month.

Your payment in April could be between $95 and $225 if you're single.

That CCR payment could be even higher than that if you have a spouse or common-law partner — an additional $47.50 to $112.50.

Also, you could get an additional $23.75 to $112.50 that's paid out either per child under 19 years old or for the first child in a single-parent family.

This article's cover image was used for illustrative purposes only.