Mr. Speaker, with respect to the question noted above, what follows is the response from the Canada Revenue Agency, CRA, for the time period of January 1, 2019, to September 23, 2024, the date of the question.
With regard to part (a), no small business rebates have been processed as of the date of the question, as the payment rates had not yet been established. On October 1, 2024, the Department of Finance announced the payment rates for each designated province for an applicable calendar year, which the CRA will use to calculate and automatically issue the rebate amounts to eligible Canadian-controlled private corporations, CCPCs.
With regard to part (b), eligible businesses that filed their 2023 tax return by July 15, 2024, will receive their payment by December 16, 2024, if registered for direct deposit from the CRA, or by December 31, 2024, if receiving payment by cheque.
To further support CCPCs, the CRA launched an online estimator tool to assist in determining an estimated rebate amount based on business operations between 2019 and 2023.
With regard to part (c), no eligible CCPCs have received their tax credit as of September 23, 2024. On October 1, the Department of Finance announced the payment rates for each designated province for an applicable calendar year, which the CRA will use to calculate and automatically issue the rebate amounts to an estimated 600,000 eligible businesses.
For additional information, refer to “Canada Carbon Rebate for Small Businesses Payment Amounts, 2019-20 to 2023-24” at https://www.canada.ca/en/department-finance/news/2024/10/canada-carbon-rebate-for-small-businesses-payment-amounts-2019-20-to-2023-24.html.