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The long-awaited Canada Carbon Rebate for Small Businesses is here! Small and medium-sized business owners will receive their carbon rebate over the next few weeks. Through this initiative, the federal government will return more than $2.5 billion to around 600,000 businesses across Canada. To receive the rebate, businesses must: ✅ Be classified as a Canadian-controlled private corporation (CCPC) resident in Canada ✅ Have between 1 and 499 employees ✅ Have at least one employee operating in one of the designated provinces where the federal fuel charge applies during the relevant calendar year(s) ✅ Have filed their 2023 corporate income tax return by July 15, 2024 If you missed the July deadline, the government is proposing to extend eligibility to businesses that file by December 31, 2024. However, payments for corporations who file late will only be issued if/when the necessary legislation receives Royal Assent. Businesses registered for direct deposit with the CRA can expect to receive the payment by December 16. For those not registered, a cheque will be mailed to your business address on file, with an anticipated arrival by December 31. Follow the link below to learn more about the Canada Carbon Rebate for Small Businesses, including eligibility criteria, provincial rates, and payment methods. https://lnkd.in/e2zYgbNd #SmallBusiness #SME #Tax #Sustainability #Decarbonization

💼 Canada Carbon Rebate for Small Businesses: Relief Is on the Way! 🌱 The Canadian federal government will distribute over $2.5 billion in carbon rebates to 600,000 small and medium-sized businesses by December 2024. This rebate (a refundable tax credit) returns a portion of carbon price revenue to businesses in provinces where the federal fuel charge applies. 📌 Key Details: 🔸Rebates cover the 2019-2023 fuel charge years and are calculated based on the number of employees in eligible provinces. 🔸No application required! The Canada Revenue Agency (CRA) will calculate and automatically issue payments to qualifying businesses. 🔸Businesses must have employed at least one worker in a designated province and had fewer than 500 employees to qualify. This financial support is crucial in helping small businesses offset carbon-related costs while contributing to a cleaner, more sustainable Canada.

📢 Exciting News for Small Businesses! 💼🌱 As of November 25, 2024, the Canada Carbon Rebate payments for small businesses have officially begun! These tax-free payments will return $2.5 billion in proceeds from the price on pollution, covering fuel charge years 2019-2020 to 2023-2024. The best part? The process is automated, meaning eligible small and medium-sized businesses will receive the rebate quickly and efficiently! 💡 Tip: This is a great time to ensure you're signed up for Direct Deposit with the CRA to get your rebate faster and directly into your account. Don't miss out on this opportunity to streamline your payment process! 📌 Eligibility: To qualify for the rebate, your business must have: -Employed people during the years 2021, 2022, and 2023 -Filed all your tax returns up to the December 31, 2023 year-end. This initiative helps alleviate the financial impact of carbon pricing, providing businesses with much-needed support to thrive while contributing to a cleaner environment. 🌍 #Canada #CarbonRebate #SmallBusinessSupport #GreenEconomy #TaxFree #SustainableBusiness #DirectDeposit #Eligibility

Understanding Canada Carbon Rebate for Small Businesses: Payment Details Eligible small businesses will soon start receiving the Canada Carbon Rebate! Here's what you need to know about when and how to expect your payment: No Application Needed The CRA will automatically calculate and issue rebates to eligible Canadian-controlled private corporations (CCPCs) that filed their 2023 tax return by July 15, 2024. Direct Deposit Advantage Payments will appear as "Canada Carbon Rebate" in your bank account (wording may vary by financial institution). No delays for businesses registered for direct deposit, even during the Canada Post disruption. Why Your Payment May Be Delayed: ·     Filed your 2023 tax return late or it is still under review. ·     Your payment was applied to an existing debt. ·     Business information is outdated—update your CRA accounts promptly! ·     A comprehensive verification process or validation review is in progress. Why Your Payment May Be Different: ·     Incorrect number of employees or province of employment in the calculation. ·     Employees working in a non-designated province. ·     Outstanding tax returns or debts impacting your rebate. #Canada tax #T1

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

New Canada Carbon Rebate for Small business. To be eligible for the retroactive payment with respect to the 2019-2020 to 2023-2024 fuel charge years (a fuel charge year runs from April 1 to March 31), a CCPC must: Have employed one or more persons in a designated province in the calendar year in which the fuel charge year begins Have had 499 or fewer employees throughout Canada in that calendar year File a tax return for its tax year ending in 2023 no later than July 15, 2024 CCPCs do not have to apply for this rebate. Once the Minister of Finance has specified the payment rates for each designated province for the applicable fuel charge year, we will calculate and automatically issue the rebate amounts to eligible CCPCs.

The Canadian government recently introduced the Canada Carbon Rebate for small and medium-sized businesses. The program is designed to provide financial relief for businesses affected by carbon pricing, and it became effective on October 1st, 2024. Payments are calculated on a per-employee basis, and businesses can expect to receive these rebates by December 16th, provided they’ve filed their taxes on time. Key Highlights: Eligibility: If you operate in Alberta and have been in business since 2019, you qualify for a rebate of $591 per employee. Tax Filings: Ensure your 2023 corporate taxes were filed on time (original deadline was June 30th, but an extension has been proposed until December 31st, 2024). While this hasn’t yet received Royal Assent, most such proposals do pass into law. Per Employee Basis: The rebate is issued per employee, but one ambiguity is the lack of clarity around the duration of employment. Businesses with high turnover might receive more than expected, though the program's intent is still unclear on this point. If you’re unsure whether your province qualifies for the program or you’re located outside of Alberta, check the official website (link in the description of the video). Filing your taxes promptly is crucial to ensure you don’t miss out on these payments. The rebate payments will be processed through direct deposit by December 16th, or later for those receiving payments by mail. Take action now to benefit from this program and get the financial relief your business deserves! #CanadaCarbonRebate #SmallBusiness #Alberta #TaxRebates #GovernmentPrograms https://lnkd.in/efmdN8GV

🌍 Attention Business Owners! 🌍 Don't miss out on the upcoming Canada Carbon Rebate (#CCR)! 📢 Important News: If you file taxes by March 15, 2024, you're eligible for the Canada Carbon Rebate (CCR) scheduled for April 15, 2024. Key Reminder: Ensure timely filing to receive your CCR payment promptly. If you file after March 15, 2024, your payment will be issued once your return has been assessed. Household Requirement: Remember, both spouses or common-law partners must file to qualify for the #CCR rebate. #ClimateAction #CarbonRebate #TaxSeason

https://lnkd.in/dXH5JdpJ The carbon price rebate is meant to help individuals and families offset the extra costs from the federal government’s pollution pricing, according to the Canada Revenue Agency. The payments are universal and not dependent on income levels. Here’s how it breaks down by province, for a family of four: Alberta: $386 Manitoba: $264 New Brunswick: $184 Newfoundland and Labrador: $328 Nova Scotia: $248 Ontario: $244 Prince Edward Island: $240 Saskatchewan: $340

A little good news to sooth the pain of the recent rising carbon tax thanks to the Feds. Highlights... More cash is on the way for Albertans this month, with the federal government sending out another round of payments in April. Here is how you can receive more money from the feds this month: GST/HST credit Payment due: April 5 According to the government, you could get up to: $496 annually if you are single $650 annually if you are married or have a common-law partner $171 annually for each child under the age of 19 Canada Carbon Rebate Payment due: April 15 The Alberta program will provide an increased rebate amount to people on April 15: $225 for an individual $112.50 for a spouse or common-law partner $56.25 per child under 18 Canada Child Benefit (CCB) Payment due: April 19 See complete article by Allison Stephen with Daily Hive via link below. #finance #economy #Rebates #government #alberta #accounting #bookkeeping #personalfinance https://lnkd.in/gNmDAtNx