Carbon Rebate deposits begin for some Canadians

If you see the Canada Revenue Agency (CRA) in your inbox this week, it might be with good news.

As of Monday, many Canadians’ first round of direct deposits for the Canada Carbon Rebate (CCR) have begun to arrive. The quarterly payments are designed to offset the cost of levies on greenhouse gas emissions, themselves meant to disincentivise the use of fossil fuels.

Depending on the recipient’s choice of bank, deposits may be listed as a CCR, or under their former name of the Climate Action Incentive Payment.

When can I expect my deposit?

Deposits are typically scheduled for the 15th of each April, July, October and January for eligible Canadians who filed their annual taxes before March 15. Those who filed later in the year can expect their first deposit six to eight weeks after their tax return has been assessed, according to the CRA.

How much can I get?

The amount of each deposit varies by province. Base amounts for individuals range from $95 in New Brunswick to $225 in Alberta, and residents of regions including Quebec, British Columbia and the Territories are not eligible for the rebate at all.

Rural residents, as well as those with a spouse, common-law partner or children, qualify for additional supplements.