Residents Of 4 Provinces Will Receive A Payment From The Feds Today & Here's Who's Eligible
The amount you may have received varies.
Canadian dollars.
Check your bank accounts, folks! Canadians from four provinces are set to receive a payment from the federal government on Friday, which could leave their bank balance looking a little healthier.
On Friday, January 13, residents of Alberta, Saskatchewan, Manitoba and Ontario will receive the latest installment of the Climate Action Incentive Payment (CAIP).
It's a tax-free payment given to residents of certain provinces to help offset the cost of federal pollution pricing.
The payment used to be a refundable credit claimed annually on income tax returns, but it was changed in 2022 to quarterly payments made through the benefits system.
Eligible residents of the four provinces don't need to apply for the CAIP, as eligibility is determined automatically at tax time. So, you might not necessarily be expecting the payments before they arrive in your account.
\u201c\ud83d\udcc6 If you\u2019re eligible, you\u2019ll receive your payment for the Climate action incentive payment on January 13th!\n\nTo keep receiving these payments, make sure you do your taxes every year. \n\nMore info \u27a1\ufe0f https://t.co/wxfChwheBT #CdnTax\u201d— Canada Revenue Agency (@Canada Revenue Agency) 1673614858
Although it is not necessary to apply for the payments, individuals and families must continue to file an income tax and benefit return each year to establish their eligibility.
Exactly how much the CAIP pays out depends on the province you live in, as well as on your family situation.
For example, residents of Ontario can receive an annual credit of $373 for an individual, $186 for a spouse or common-law partner and $93 per child under 19.
Comparatively, Manitobans can access $416 per year for an individual, $208 for a spouse or common-law partner and $104 per child under 19.
Those who live in Saskatchewan can access the most money, with an annual credit of $550 for an individual, $275 for a spouse or common-law partner and $138 per child under 19.
In Alberta, individuals can get an annual credit of $539, spouses or common-law partners can get $270 and $135 is available for each child under 19.
Additional payments are available for the first child in a single-parent family in all four provinces.
Who is eligible for the CAIP?
To qualify for climate action incentive payments, you must be a resident of either Alberta, Saskatchewan, Manitoba or Ontario.
You must also be either at least 19 years of age, have (or previously had) a spouse or common-law partner, or be (or have been) a parent who lives with a child.
The full eligibility criteria can be found online, in addition to details about qualifying children.
Those who are entitled to receive the rebate can expect to receive payments on or around the 15th of April, July, October and January – depending on where the weekend falls.
The payment sent out on January 13 will be the final installment of the 2021 CAIP. The next payment will be issued in the spring, provided your 2022 income tax and benefit return has been processed.
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