Climate Action Incentive Payment Is Giving Out Money In January & You Could Get Over $300

There are federal benefits , credits and payments paying out in January 2024 . That includes the climate action incentive payment which is one of the benefits offering the most money to Canadians. If you're wondering how much money you could get and what the payment date is this month, here's what you need to know! Canada's climate action incentive payment is a tax free quarterly payment that's meant to help individuals and families offset the cost of federal pollution pricing.

There is a basic amount and then an additional amount for people who live in small and rural communities. Residents of Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, P.E.I, and Newfoundland and Labrador are eligible for the climate action incentive payment . If you're eligible for the Canada Child Benefit , a credit for each eligible child will be included in the payment.

Also, if you have a spouse or common law partner, you'll receive more money as well. That means your payment in January could be close to or even more than $300! You don’t need to apply to receive the climate action incentive payment , the Canada Revenue Agency will send payments if you file your tax return each year and are eligible to get money.

How much money you get from the climate action incentive payment depends on your family situation and the province you live in. Unlike other benefits and credits, this isn't reduced based on your adjusted family net income. For residents in Alberta, the base quarterly payment is: With this federal payment, the quarterly base amount for Manitoba is: The climate action incentive payment base amount for New Brunswick is: Residents in Newfoundland and Labrador get a base quarterly payment of: In Nova Scotia, the quarterly base payment is: For the climate action incentive payment in Ontario, the quarterly base amount is: In P.E.I., the base quarterly payment is: The quarterly base amount for Saskatchewan's climate action incentive payment is: If you get your tax refund by direct deposit, you'll also get your climate action incentive payment by direct deposit.

It will show up in your bank accounts as "Climate Action Incentive" though the exact wording can vary by financial institution. This article's cover image was used for illustrative purposes only..