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The Canada Carbon Rebate for Small Businesses is a refundable tax credit introduced in Budget 2024. It returns a portion of federal fuel charge proceeds to eligible Canadian-controlled private corporations (CCPCs) with 499 or fewer employees. The rebate is calculated based on the number of employees in designated provinces and specific payment rates set by the Minister of Finance. Eligible CCPCs do not need to apply; the rebate will be automatically issued. More details, including payment rates and distribution timelines, will be provided in the coming months. For further information connect with Reliable Accountings Solutions® to see if you are eligible for this federal rebate. #canadacarbonrebate #smallbusinessess #Rebates #federalrebate

📢 The Government of Canada is committed to affordability and sustainability with the new Canada Carbon Rebate for Small Businesses! 🌱💼 Announced in #Budget2024, this rebate will return over $2.5 billion to eligible Canadian-controlled Private Corporations (CCPCs) as a refundable tax credit for federal fuel charges from 2019-2020 to 2023-2024. To qualify: ✅ Employ 1+ person in a designated province. ✅ Have 499 or fewer employees in that year. ✅ File 2023 corporate tax return by July 15, 2024. No need to apply—the CRA will automatically issue rebates! #SmallBusiness #Sustainability

Canada Carbon Rebate for Small Business - The numbers are now out...and they can be pretty signficant for some employers that are CCPCs with less than 500 staff. For example: the per employee payment for Saskatchewan employers (covering the last five years) will total $1,156. If you have 10 employees, you are looking at an extra $11,560. On a per employee basis, Ontario is $401, Alberta is $591, and Manitoba is $481. The Atlantic provinces are all less than $180 as they joined the federal regime later. CRA will determine and automatically issue the rebate by the end of 2024. Press Release: https://lnkd.in/gAvqF88h Backgrounder with amounts: https://lnkd.in/gCvzgTz3 General details on the rebate: https://lnkd.in/gBVd2pjg #CRA #cdntax #cdnbus

Why Canada should reform its carbon tax On the 15th of July millions of Canadian households received a tax-free payment from the government as the proceeds of the federal carbon tax were redistributed. It’s always nice to get a tax refund, especially when its unexpected. Even better when households can bask in the warm glow that they helped Canada reduce its impact on the environment, and at no cost to themselves. What’s not to like about putting a ‘price on pollution’, and then not having to pay it? Yet despite the obvious attractions, the opposition Conservative Party plan to scrap the scheme if they get elected, and they currently hold a 20 point lead over the incumbent Liberal Party. What’s going on? Let’s dive in and peel back the layers to understand why this policy has promoted such hostility. #carbonpricing https://lnkd.in/eqXVTZnn

Attention all Canadian-controlled private corporations (CCPCs)! 📣 Learn about the new Canada Carbon Rebate for Small Businesses. It provides support by returning a portion of federal fuel charge proceeds directly to eligible CCPCs. Get ready by filing your 2023 corporate tax return no later than July 15th. Check out the other eligibility criteria: https://ow.ly/WbSF50SpwUA #CarbonRebate #ClimateAction #CdnTax #CdnBusiness [Image description: A person is fixing a bike in their bike shop. The words read “New Canada Carbon Rebate for Small Businesses."]

An update from Canada Revenue Agency - Agence du revenu du Canada for small business owners in Manitoba who are eligible to receive the Canada Carbon Rebate. This is something the Manitoba Chambers of Commerce has been long advocating for. #PoweroftheNetwork #VoiceofBusiness

Introducing the Canada Carbon Rebate for Small Businesses What is Canada Carbon Rebate for Small Businesses: A refundable tax credit announced in Budget 2024 to return a portion of federal fuel charge proceeds directly to eligible Canadian-controlled private corporations (CCPCs). Eligibility Requirements: To qualify for the retroactive payment for the 2019-2020 to 2023-2024 fuel charge years (running from April 1 to March 31), a CCPC must: ·     Employ one or more persons in a designated province during the relevant calendar year. ·     Have 499 or fewer employees throughout Canada in that calendar year. ·     File a tax return for the 2023 tax year by July 15, 2024. Automatic Rebate: No need to apply! Once the Minister of Finance sets the payment rates for each designated province, we will calculate and automatically issue the rebate amounts to eligible CCPCs. Rebate Calculation: ·     The rebate amount will be calculated for each designated province where the eligible CCPC had employees in the calendar year in which the fuel charge year began. ·     The amount will be equal to the number of persons employed in that designated province, multiplied by a payment rate specified by the Minister of Finance. Stay Tuned for Updates! We will provide updates on payment rates and distribution timelines as they become available. #CanadaCarbonRebate #SmallBusinessSupport #TaxCredit #AccountingFirm #FuelChargeRebate #CCPC

Understanding Canada Carbon Rebate for Businesses – Who is eligible? Did you know your small business might qualify for the Canada Carbon Rebate? This rebate helps Canadian-controlled private corporations (CCPCs) offset costs related to the federal fuel charge. Here’s what you need to know: Who’s Eligible? Must be a CCPC (including Indigenous CCPCs). Filed your 2023 tax return by July 15, 2024. Employed one or more employees in a designated province during the fuel charge year. Had 499 or fewer employees across Canada in the relevant year. Retroactive Rebates Available Eligible CCPCs can receive rebates for fuel charge years 2019-2020 to 2023-2024 if they meet the criteria. Designated Provinces: 2019-2023: Saskatchewan, Manitoba, Ontario. 2020-2023: Alberta. 2023: New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador. Rebate Payment Details Payments are made via direct deposit or cheque. No delays for direct deposit payments—even during postal disruptions. Why It Matters The rebate can be a significant financial benefit for small businesses in designated provinces. Don’t miss out—ensure your business qualifies and files on time! Need help determining your eligibility or navigating the process? Our accounting experts are here to guide you every step of the way. #CanadaCarbonRebate #SmallBusinessSupport #AccountingExperts #CRAUpdates #SustainabilityMatters

The Canada Carbon Rebate has stirred up quite the confusion over the last year. It was introduced in the Federal Budget as a $2.5 billion measure aimed at returning carbon price revenue to approximately 600,000 small and medium sized businesses. Recently, concerns were raised about whether the rebate would be taxable. It has officially been clarified that the rebate will be indeed TAX FREE. If you have received this amount, please be sure to let us know or code it separately in your accounting records so we can ensure this is reported accurately. #canadacarbonrebate #taxdeductions #taxadvantages #federalbudget #accountingfirm

The consumer carbon tax is losing support everywhere. People at the doors in #calgarycentre have been telling me for a long time that it has raised their costs of groceries, fuel and more. Rebates don't cover the costs for 60% of families. The government is unable to provide any measurable evidence that this tax on everything is actually reducing emissions. The Canadian Climate Institute attributes most GHG reductions to industrial reductions (e.g. Alberta's TIER system). NDP Premier David Eby has now vowed to remove BC's carbon tax. The Alberta NDP's new Leader has expressed reservations. Manitoba's NDP Premier is looking for ways to reduce the impact. Saskatchewan refuses to pay the levy on heating fuel. Ontario is looking for alternatives. And now federal NDP Leader Jagmeet Singh says we can't fight climate change on the backs of individual Canadian workers with this consumer tax. Mr. Singh - your choice is clear. Parliament is back tomorrow and there will shortly be a Non-Confidence vote. Trigger a carbon tax election now and let the voters decide. #yyc #cdnpoli #carbontax