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Carbon Levy will Benefit Most Households

Carbon Levy
A man fills up his truck with gas in Toronto, on Monday April 1, 2019. THE CANADIAN PRESS/Christopher Katsarov

Recently, the Canadian Parliament’s budget watchdog said that most households in provinces where the federal carbon levy applies will benefit from the Carbon Levy. Most households stand to receive more money back on their taxes than they will pay on their fuel bills.  Provinces that do not have their own price on carbon include New Brunswick, Ontario, Manitoba, Saskatchewan, and Alberta.

The federal government has written into law that 90% of the collected levy will be returned to households in the province in which they were collected.

Previous studies show that in Ontario, for 2020, the average household will pay $357 in carbon levies, but will receive a $439 rebate with a net benefit to the household of $82.

The carbon levy for 2020 is $30/tonne eCO2, and set to rise $10/yr to $50/tonne by 2022.

Read the original article here.