CANADA...THE CARBON PRICES RISES TODAY..... HERE'S WHAT TO BE EXPECTED

By Chandrayee Roy Choudhury, Canada : The federal carbon price rises today for everyone — but some Canadians can expect to get more money back from the program than others, and to see their rebates sooner and more frequently.



Canadians living in jurisdictions that don't have carbon pricing policies of their own receive federal benefit payments to compensate for higher prices. Starting in July, individuals and families in Alberta, Saskatchewan, Manitoba and Ontario will receive their federal tax-free Climate Action Incentive Payments (CAIP) automatically every quarter.



The payments used to be delivered annually at tax time through a refundable tax credit. In last year's budget, the federal government announced that the CAIP payments will now arrive quarterly.



It's expected payments will arrive on the 15th day of April, July, October and January. Since the very first payment won't arrive until July 15 (after 2021 tax returns are due), it will be a double payment. If you get your tax return by direct deposit, you will receive the CAIP the same way.