The last few years have been tough. Luckily, relief may be in your future because the federal government will soon be sending out the last installment of their 2023-2024 Climate Action Incentive Payment (CAIP) to eligible Alberta residents.
A tax-free credit 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.
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Need the cash? On January 15th, residents will see their next return as long as they live in Alberta, Ontario, Manitoba, Saskatchewan, Newfoundland and Labrador, Nova Scotia, or Prince Edward Island and meet the following criteria:
- 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?
According to the government, 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.
The best part? 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.
