Some Canadians Will Be Getting More Money From The Feds Next Year & Here's How Much
The federal government is expanding a program that gives Canadians back some money and is boosting it for those who previously qualified.
Thanks to recent changes made to the Climate Action Incentive (CAI) payments plan, households in three more provinces in Canada will be eligible for a federal rebate starting next year.
A recent announcement by Minister of the Environment and Climate Change Steven Guilbeault unveiled that the provinces of Newfoundland & Labrador, Nova Scotia and Prince Edward Island are adopting the federal pollution pricing system.
This means that the cost of fuel in the region is expected to rise, with CBC News reporting that gas could rise by 13 cents a litre with home heating fuel going up by 15 cents a litre in Nova Scotia.
So, to offset that increase in the cost of living, these provinces will be joining Ontario, Alberta, Saskatchewan and Manitoba in getting quarterly CAI payments.
According to the federal government, 8 out of 10 times this payment will give households more money than what they've paid.
So, if you happen to live in any of these provinces, you can expect a Climate Action Incentive payment for the first time ever on July 1, 2023.
But that's not all. Those living in Ontario, Alberta, Saskatchewan and Manitoba can also expect their quarterly payments to increase starting April 2023.
How many Climate Action Incentive payments will Canadians get in 2023?
For a family of four, Canadians can receive from $240 to $386 for each payment, depending on what province they live in — a total of $960 to $1,544 for the whole year.
For a single adult, the range is $120 to $193 for each quarterly payment, amounting to somewhere between $480 to $772.
To begin with, in July 2023, a family of four can get $248 in Nova Scotia, $240 in Prince Edward Island and $328 in Newfoundland and Labrador.
Meanwhile, people living in provinces that already have CAIP will see their rebates go up as of April 1.
So, a family of four can get $386 in Alberta, $340 in Saskatchewan, $264 in Manitoba and $244 in Ontario starting April 2023.
And these direct payments will keep coming every few months.
If you live in a rural area, you receive a bonus "rural supplement" of 10%. And, if you live in P.E.I., that 10% is already added to your payment, no matter where you live!
When will the Climate Action Incentive payments arrive in 2023?
The payments are going to be dolled out in four parts.
Canadians living in Alberta, Manitoba, Saskatchewan and Ontario can expect the payments to arrive in April, July, and October 2023 and in January 2024.
Those living in Nova Scotia, Newfoundland and Labrador, and Prince Edward Island will receive three payments in the coming year. That is, in July and October 2023 and in January 2024.
How do you qualify for the Climate Action Incentive?
As of 2023, to qualify for the CAI, you need to live in Ontario, Manitoba, Saskatchewan, Alberta, Newfound & Labrador, Nova Scotia or Prince Edward Island.
But that's not all.
If you want to get those quarterly payments, you need to be sure to file your tax return, which is also where you can identify your qualification for the rural supplement.
Moreover, if you live in a house that still is using oil heating, the government has just announced the Oil to Heat Pump Affordability (OHPA) Grant that will give you money to replace oil heating with an eco-friendly pump, depending on your income.
This article's cover image was used for illustrative purposes only.
