The federal government is proposing $1,337 in compensation for turning in an AR-15 rifle under a mandatory buyback program.
Public Safety Canada has released a price list detailing how much money owners of prohibited firearms can expect to receive under the program.
At the higher end of the scale, the loss of a Swiss Arms SG550 could net an owner $6,209.
Ottawa will seek input from gun owners, businesses and industry on proposed compensation amounts between now and August 28.
The mandatory buyback program would cover the more than 1,500 models and variants of what the government considers assault firearms, banned two years ago.
While the idea has been praised by gun control advocates, some others, including Tory MPs, have suggested it targets legitimate gun owners rather than criminals.
It will be mandatory for owners to participate in the buyback program, have designated firearms rendered inoperable at government expense, or otherwise lawfully disposed of.
The government says the proposed price list for individual firearm owners was developed to reflect what Canadians might have paid for an assault firearm before May 2020.
“Today’s proposed price list represents another step toward removing these dangerous firearms from Canadian communities while ensuring that current owners receive fair compensation,” said Public Safety Minister Marco Mendicino.
A separate compensation model is being developed for companies participating in the buyback program.
An amnesty is in place until October 30, 2023 to protect lawful owners of now-banned firearms from criminal liability while they take steps to comply with the law.
“Compensation models and other program details will be finalized in the coming months and all known firearm owners will be contacted about how they can participate in the buyback program,” the government said.
The Liberals also introduced a gun control bill in May that would freeze the importation, purchase, sale or transfer of guns.
This report by The Canadian Press was first published on July 28, 2022.