Canadians will be seeing more money coming in from their carbon rebate.
Carbon price rebate cheques will be hitting bank accounts four times this year, versus the normal lump sum that gets wrapped up together at tax time.
In Ontario, residents will see a 66 per cent increase to the rebate that’s because it’s making up for payments that were too small the past two years.
A family of four can expect that payments would be around $745 in Ontario.
It was calculated that the Feds received more than $4.2 billion in carbon levies on consumers and small businesses in 2020.
Close to $500 million in revenue was handed down to small businesses and non-profits to make energy efficient changes.
The first rebate comes out July 15th and will be a “double payment” that is retroactive to the start of the new fiscal year.
Remaining payments will happen quarterly starting in October 2022 and January 2023 before restarting the next fiscal with the first payment in April 2023.
More details about the rebate can be found here.