Tax & Accounting October 23, 2018

Government announces climate action incentive payments and fuel charge consultations

Today the federal government announced how the revenue collected from the federal price on carbon will be distributed, as well as launching consultations on a fuel charge for jurisdictions that do not impose a federal standard. Revenue from the federal carbon pricing will be returned to its province or territory of origin. Likewise, the determination of to whom it will be distributed to and how much will be paid will vary by jurisdiction. The government has provided a helpful guide on how the system will work for each jurisdiction. See Pricing pollution: how it will work. Also, various backgrounders and the draft regulations can be found on the Department of Finance website.
Cameron Mancell
CFP®, Senior Technical Writer at Wolters Kluwer Canada
Cameron Mancell, CFP®, is a Senior Technical Writer at the Wolters Kluwer office in Toronto. Cameron contributes to Canadian Tax Reporter, Preparing Your Income Tax Returns, and Preparing Your Corporate Income Tax Returns, among several others.