A woman gasses up at a gas station in Mississauga, Ont., Tuesday, February 13, 2024.
The federal carbon tax and its associated rebates rise today as the national price on carbon increases from $65 per tonne to $80.The April 1 hike to the federal carbon tax will make it more expensive to gas up vehicles. The federal carbon tax and its associated rebates rise today as the national price on carbon emissions increases from $65 per tonne to $80.
The rebates — recently rebranded as the Canadian Carbon Rebate — also have increased along with the carbon price, says Finance Canada. To receive the rebate, you need to file an income tax return. The rebate arrives through direct deposit in your bank account or through a cheque in the mail.$298 in Newfoundland and Labrador.
All the money that's directly collected by the federal carbon pricing system, the federal government said, is returned to the province or territory where it's collected. About 90 per of the federal carbon tax goes towards rebates. The remainder goes to Indigenous communities, farmers and businesses. The PBO also concluded in a separate economic analysis that at $170 per tonne, the federal carbon tax will cut jobs and profits in the transport and oil and gas sectors. This means workers in the oilpatch could lose their jobs and Canadians who hold shares in oil companies like Suncor or Cenovus could see lower investment returns.After several years of the national carbon price.
"So we are just starting to see those, the results of those efforts and that ... if we can continue on that path, if we continue to have the suite of climate policies that we have in place, we will continue to see those emissions starting to fall from where they would have been and actually fall in an absolute sense."
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