Albertans will soon see a bump in their bank account balance.
The first quarterly payment of the federal Climate Action Incentive will be disbursed on July 15. This month’s payment will be doubled-up to $269, and each quarterly amount after that will equal $134.75.
Payments were previously disbursed as an annual credit, but that has changed to quarterly installments, so Canadians will receive payments more frequently.
“The CRA is committed to ensuring that Canadians receive the benefits and credits they're entitled to, including the Climate Action Incentive payment,” stated Diane Lebouthillier, Minister of National Revenue.
“These quarterly payments will put money back into Canadians' pockets while protecting the environment for future generations.”
The other rebates are expected in October and January.
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 the feds, a family of four in Alberta can expect to see an annual average credit of $1,079.
Additionally, families in rural and small communities are eligible to receive an extra 10 per cent. More details on individual and family payment amounts for 2022-23 are specified here.