Canada Carbon Rebate payments just went out in Ontario but here's why you didn't get money yet

Canada Carbon Rebate payments were just sent out in Ontario.

But you might not have received money from this federal benefit yet even if you're eligible so here's what you need to know.

The Canada Carbon Rebate is a new federal benefit that replaced the climate action incentive payment when it was revamped and payment amounts were increased earlier this year.

It's a tax-free quarterly payment given to eligible individuals in certain provinces to offset the cost of federal carbon tax.

The Canada Carbon Rebate is available to residents of Ontario along with residents of Alberta, Saskatchewan, Manitoba, New Brunswick, Nova Scotia, P.E.I., and Newfoundland and Labrador.

How much money you get from this rebate depends on where you live and your family situation. The benefit isn't reduced based on your annual income.

If you're in Ontario, here's how much the quarterly Canada Carbon rebate payment is:

• $140 for an individual
• $70 for a spouse or common-law partner
• $35 per eligible child under 19 years old
• $70 for the first eligible child in a single-parent family

There is also a rural supplement for those living in rural and mall communities. It has to be claimed on page two of your tax return.

The first Canada Carbon Rebate payment date was Monday, April 15, 2024.

So, you might be looking in your bank account for that payment — or the climate action incentive payment if you didn't know that the benefit had been changed.

Not everyone in Ontario who is eligible for the rebate has received money from it yet.

That's because the Canada Carbon Rebate is tied to your tax return.

If you electronically filed your 2023 income tax return by March 15, 2024, you should receive your Canada Carbon Rebate payment on time either by direct deposit or by cheque through the mail.

If you file your taxes after March 15, your payment will be delayed until the Canada Revenue Agency assesses your return.

It's expected that the Canada Carbon Rebate will go out six to eight weeks after you file your tax return, according to the CRA.

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