Mr. Speaker, regarding part (a) of the question, budget 2024 proposes to return fuel charge proceeds from 2019 20 through 2023 24 to an estimated 600,000 businesses, with 499 or fewer employees through the Canada carbon rebate for small businesses. This new refundable tax credit would deliver over $2.5 billion directly to small and medium sized businesses in the provinces where the fuel charge applies. Proceeds would be returned to eligible corporations automatically through direct payments from the Canada Revenue Agency, or CRA, separately from CRA tax refunds. With respect to the 2019 20 to 2023 24 fuel charge years, the tax credit would be available to Canadian controlled private corporations, or CCPCs, that file their tax return for 2023 by July 15, 2024. For each fuel charge year and province, the amount would be equal to the number of employees reported by the CCPC in that province for the corresponding calendar year, multiplied by a payment rate specified by the Minister of Finance.
The proposal would return proceeds for future fuel charge years, including 2024 25, in a similar manner each year.
With regard to part (b), amounts would be automatically paid to eligible businesses once enabling legislation receives royal assent, payment rates have been specified by the Minister of Finance and the Canada Revenue Agency has put in place the systems to process the automatic payments.