The federal government has just confirmed that all past and future carbon tax rebates for small businesses will be completely tax-free. That means more money in your pockets, with over $3 billion in rebates now exempt from federal taxes.
This is a huge win for small business owners like you. It’s a key issue we’ve been pushing the federal government., We’re thrilled to see this important step forward that recognizes the challenges and contributions of over 600,000 small businesses across the country. We’re also proud of the over 6,700 signatures and more that helped push forward our petition in the fight to get the carbon tax rebates for small business owners.
If your business previously paid corporate income tax on carbon tax rebates, the Canada Revenue Agency (CRA) will refund you. We’re working closely with the CRA to get clarity on the refund process and will share updates with you as soon as we have them. If you haven’t filed your 2024 taxes yet, you won’t have to pay tax on those rebates when you do.
Looking ahead, the next and final round of carbon tax rebates, worth $623 million, is expected in 2025. We’re pushing the government for details and timelines so we can keep you informed and ensure the support reaches your business.
This announcement is a direct result of the strong voice you help us bring to government. Find out how we advocate for your business on carbon tax and other key issues on our Carbon Tax Hub page.
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