October 5th, 2024

Small businesses to receive five years’ worth of carbon rebates in December


By Nojoud Al Mallees, The Canadian Press on October 1, 2024.

Finance Minister Chrystia Freeland responds to a question from the opposition during Question Period, in Ottawa, Tuesday, Sept. 24, 2024. THE CANADIAN PRESS/Adrian Wyld

OTTAWA – Finance Minister Chrystia Freeland says owners of small and medium-sized businesses will finally receive their long-awaited carbon pricing refunds before the end of this year.

The Finance Department says the federal government will send more than $2.5 billion to about 600,000 Canadian businesses in December.

The payments will return a portion of the carbon price revenue from 2019-20 through 2023-24 to small businesses in jurisdictions where the federal fuel charge applies.

The amount received by a business will depend on the province it operates in and the number of workers it employs.

The federal government has also announced the final list of Chinese-made aluminum and steel products that will be subject to a 25 per cent tariff, which will come into effect on Oct. 22.

The 100 per cent tariff announced last month on Chinese-made electric vehicles came into effect today.

This report by The Canadian Press was first published Oct. 1, 2024.

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