The good news is that starting July 15 and four times annually after that, individuals and families living in these provinces are going to receive tax-free cheques, or direct deposit payments if they prefer, from the Trudeau government under its Climate Action Incentive Payment Plan.
Previously the rebates were a refundable tax credit, claimed on income tax returns.
The bad news is that, according to Yves Giroux, Parliament’s independent, non-partisan budget officer, most people receiving these cheques (60%), will pay a lot more in annual carbon taxes than they get back in carbon tax payments, and will do so every year up to 2030, at least.
In 2024, Giroux says, 80% of Ontario households will be paying more in carbon taxes than they receive in rebate cheques, with the same thing happening in Alberta in 2028.
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