New for tax season: How you might get another $307 back this year
Residents of Manitoba, New Brunswick, Ontario and Saskatchewan are eligible for an income tax rebate in the hundreds of dollars meant to offset the cost of the federally imposed carbon tax. (rawpixel.com / Pexels)
Ryan Flanagan, CTVNews.ca
Published Monday, March 11, 2019 8:39AM EDT
If you live in one of four provinces, you’re likely eligible to save hundreds of dollars on your income taxes this year through the federal government’s carbon tax rebate.
The rebate, which the government refers to as the “climate action incentive,” provides tax refunds to tax-filing residents of Manitoba, New Brunswick, Ontario and Saskatchewan.
It is meant to offset the increased costs of gasoline, natural gas and propane as a result of the federally imposed carbon tax, which takes effect April 1.
People living in other parts of Canada are not able to claim the rebate because their provinces are using carbon pricing programs they developed themselves.
In the four provinces where the rebate is being offered, it can be claimed on 2018 income tax returns even though the price increases did not take effect during the 2018 tax year.
The amount of the rebate varies based on which province claimants live in and the size of their family. In Ontario, for example, a single person will receive $154 while a family of four could be eligible for $307. Amounts are higher in Manitoba and Saskatchewan, and lower in New Brunswick.
The rebate can only be claimed by one person per household.