A benefit cheque is coming in the mail this month in Ontario
Published January 2, 2024 at 11:08 am
As the holiday season comes to an end, the bills may start arriving — that’s where a benefit payment could help out.
The Climate Action Incentive payment rolls out this month in Ontario.
The payment comes from the federal government. The federal government applies a price on pollution in jurisdictions that do not have their own pollution pricing systems which meets the federal benchmark, according to the Department of Finance.
The federal fuel charge applies in Alberta, Saskatchewan, Manitoba and Ontario, and will come into effect as of July 1, 2023 in Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.
However, the Government of Canada does not keep any direct proceeds from pollution pricing — 90 per cent of direct proceeds from the federal fuel charge are returned to residents of those provinces through Climate Action Incentive payments.
The other 10 per cent supports small businesses and Indigenous groups. Proceeds relating specifically to the use of natural gas and propane by farmers are returned directly to farmers via a refundable tax credit.
Videos
The government started issuing Climate Action Incentive payments in July 2022.
And the next payment is coming soon — on Jan. 15 for Ontario residents. There will be three more payments in 2024 — on April 15, July 15 and Oct. 15.
The payment ranges from $122 for a single adult to $244 for a family of four. It could come in the mail as a cheque or via direct deposit.
To qualify for the payments, residents must file their annual tax return.
For further information, see the federal website here and the dates are listed here.
INsauga's Editorial Standards and Policies