Albertans will soon see an increase in their bank account balance.
The first quarterly payment of the Federal Climate Action Incentive will be disbursed on July 15th. This month’s payment will double to $ 279, and each subsequent quarterly amount will be $ 134.75.
Payments were previously disbursed as annual credit, but this has been changed to quarterly installments, so Canadians will receive payments more often.
“The CRA is committed to ensuring that Canadians receive the benefits and credits to which they are entitled, including the payment of incentives for climate action,” said National Finance Minister Diane Lebouthillier.
“These quarterly payments will put money back in the pockets of Canadians while protecting the environment for future generations.”
Under the federal pollution pricing system, the government puts a price on pollution in regions that do not have their own pricing system, which includes Alberta, Saskatchewan, Manitoba and Ontario. According to federals, a family of four in Alberta can expect to see an average annual credit of $ 1,079.
In addition, families in rural and small communities are entitled to an additional 10 percent. Further details on the amounts of individual and family payments for the period 2022-23 are specified here.