Author Topic: Carbon Tax Rebate  (Read 296 times)

Prairie Moustache

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Carbon Tax Rebate
« on: January 09, 2019, 03:17:12 PM »
Just a heads up that you can apparently claim the carbon tax rebate on your 2018 return if you live in Saskatchewan, Manitoba, Ontario or New Brunswick. I'll be putting that $300 towards general badassity as intended and becoming wealthier in the process. I just intended this post to be an FYI, please don't make it into a carbon tax argument, there's enough of those on the internet already.

If the conservative types weren't yet fired up enough, the feds used the example of a lesbian family of three when explaining how the rebate would be applied on the Saskatchewan carbon tax FAQ page.

https://www.canada.ca/en/environment-climate-change/services/climate-change/pricing-pollution-how-it-will-work/saskatchewan.html

Prairie Stash

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Re: Carbon Tax Rebate
« Reply #1 on: January 09, 2019, 03:45:13 PM »
thanks for the link

sieben

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Re: Carbon Tax Rebate
« Reply #2 on: January 09, 2019, 04:14:49 PM »
Ah,
I'd noticed something about a climate action incentive in SimpleTax. I was wondering what that meant.
Thanks for sharing!

The Fake Cheap

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Re: Carbon Tax Rebate
« Reply #3 on: January 11, 2019, 06:28:09 PM »
Thanks for the info!

I'm in New Brunswick, looks like my family will be getting about $220...not bad!


If the conservative types weren't yet fired up enough, the feds used the example of a lesbian family of three when explaining how the rebate would be applied on the Saskatchewan carbon tax FAQ page.

Halarious!

okits

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Re: Carbon Tax Rebate
« Reply #4 on: January 11, 2019, 07:34:05 PM »
Interesting!  Seems like itís a straight payment based on family size, not related to income or as a tax credit. 

Saskatchewstachian

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Re: Carbon Tax Rebate
« Reply #5 on: January 14, 2019, 12:21:33 PM »
Thanks for the reminder. I do love that it's based on family size and not income.

Looks like $533 for our family this year that I wasn't accounting for! Add in the graduate retention program and I can't wait for that sweet sweet government money. (I didn't adjust my withholding so I'm still a fool letting the government use my money the rest of the year, facepunches accepted)

Prairie Moustache

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Re: Carbon Tax Rebate
« Reply #6 on: January 14, 2019, 03:30:15 PM »
No problem! I filled out a T1213 for 2018 but my pension adjustment amount this year is going to be too high to really make it worth it in terms of RRSP contributions. You can't adjust your withholding for the grad retention program correct?

sieben

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Re: Carbon Tax Rebate
« Reply #7 on: January 14, 2019, 07:59:22 PM »
No problem! I filled out a T1213 for 2018 but my pension adjustment amount this year is going to be too high to really make it worth it in terms of RRSP contributions. You can't adjust your withholding for the grad retention program correct?

Hmmmm, I never have, but I think I've heard people using it like that. There is an spot for "Other" on the form.
I took a 2 year program so my grad retention just isn't enough to ever worry about for that though. :\

Prairie Moustache

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Re: Carbon Tax Rebate
« Reply #8 on: January 15, 2019, 06:33:53 AM »
Hmm, perhaps this year once I get a handle on my pension adjustment I'll try claiming the grad retention program on the T1213 as an experiment for the Sask folks on here and see how it goes. The opportunity cost of leaving $2000 on the table for a little under a year isn't astronomical but we all know it adds up. :)

True Sieben, but your capital investment costs on that education were a lot lower, and the ROI impressive compared to most 4 year degrees. ;)

sieben

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Re: Carbon Tax Rebate
« Reply #9 on: January 15, 2019, 04:01:59 PM »
Hmm, perhaps this year once I get a handle on my pension adjustment I'll try claiming the grad retention program on the T1213 as an experiment for the Sask folks on here and see how it goes. The opportunity cost of leaving $2000 on the table for a little under a year isn't astronomical but we all know it adds up. :)

True Sieben, but your capital investment costs on that education were a lot lower, and the ROI impressive compared to most 4 year degrees. ;)

Hope it work for you! I don't know, I love those kind of micro-optimization. They all start to snowball after awhile!

You bet, I've got no regrets :)
An 18 month program meant an extra 2 years of salary and 2 years less of tuition and here in Stoon it doesn't affect my potentially salary at any of the places I'd want to work anyway.