Small businesses will get 5 years’ worth of carbon price rebates in December

1 year ago 7

ARTICLE AD BOX

By Nojoud Al Mallees The Canadian Press

Posted October 1, 2024 2:34 pm

1 min read

Freeland'

1:28 Small businesses to receive 5 years’ worth of carbon rebates in December: Freeland

On Tuesday, Finance Minister Chrystia Freeland said that owners of small and medium-sized businesses will finally receive their long-awaited carbon pricing refunds before the end of this year. Freeland said the federal government will send more than $2.5 billion to about 600,000 Canadian businesses in December. "These are real significant sums of money. They're going to make a big difference to Canadian small business," she said.

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.

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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.

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