The last few years have been tough and this upcoming month may not be kind to those of you who have large families and have to purchase gifts, make large dinners or host parties. Luckily, relief may be in the future! As announced earlier this week, the federal government will be increasing the Climate Action Incentive Payment (CAIP) for Alberta residents for the 2023-2024 year.

A tax-free payment distributed 4 times a year to millions of Canadians, CAIP was first sent out in July of 2021 and was meant to help offset the cost of federal pollution pricing.

This upcoming year, however, residents will see a larger return as long as they live in Alberta, Ontario, Manitoba, Saskatchewan, Newfoundland and Labrador, Nova Scotia, or Prince Edward Island when payments are sent out and meet the following:

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  • Are at least 19 years of age or older
  • Have (or previously had) a spouse or common-law partner
  • OR be (or previously have been) a parent and live (or previously lived) with your child

So what can you expect in the 2023 – 2024 year if you are eligible?

According to a recent release, some Albertans will receive $772 (or $193 each quarter), with their spouses (or common-law partners) getting an additional $386 (or $96.50 each quarter) plus $193 (or $48.25 each quarter) per child under 19 years old.

Photo via Government of Canada

Payments will be distributed on the 15th of April, July, October and January of 2024 but, if you can’t wait that long – the last and final installment from this past year’s CAIP will also be sent out on the 15th of January 2023.

An application wasn’t necessary to receive these payments, so for those of you who qualify – just sit back, relax and enjoy. Help is on its way – but it’s up to you to spend it wisely!

It’s going to be a good year, Alberta! We can feel it.