Updated on February 4, 2024
Explore the Details of February 2024 Tax Rebate in Canada: Available Types and Amounts. Canadians experiencing difficulties can apply for the February Tax Rebate in Canada. It is essential to meet the minimum balance requirement for payment reception; failing to do so may lead to application cancellation. Feeling uncertain? Continue reading the article for the most up-to-date information.
February Tax Rebate Canada 2024
With the onset of the new fiscal year, Canadians are actively completing their tax returns for the previous year’s expenditures. Tax credits have been outlined since mid-January. Federal Government authorities will scrutinize the applications and distribute tax refunds to eligible candidates.
Rebates represent the returns provided on tax returns and credits paid by citizens in the preceding year. Those who have timely completed their tax returns and have no outstanding dues by the end of March will be eligible for rebates. These rebates typically fall under four categories. Continue reading to gain more insights into the February Tax Rebate Canada.
Available Tax Rebates in February: Different Types
Citizens will receive rebates on tax returns paid for GST/HST, carbon, and grocery. Additionally, the Quebec sales rebate is a provincial credit issued by state authorities.
Not all citizens are eligible to receive the province’s rebate. The details regarding the accessible tax rebates have been summarized in the section below.
GST/HST Tax Rebates
The tax rebate is determined based on the Consumer Price Index of services and goods purchased for personal or commercial use. Due to the rise in the cost of living, GST/HST prices increased last month.
Citizens who have filed returns with an increased credit will receive additional rebates based on the filled returns. A single taxpayer is entitled to receive $496, and a couple can receive approximately $650.
Carbon Tax Rebates
The rebates are determined by the carbon taxes paid by citizens during the winter season. With winter at its peak, families needed carbon and other fuels to heat their houses. As the demand for carbon increased in businesses, the carbon tax amount peaked in many provinces.
Northern Ontario has experienced the highest peak for carbon and fuel this year due to the carbon tax policy. The interest rate for carbon taxes has been raised by 3 percent this year. Rebates typically range from $225 to $650 and are issued on the 15th day of each quarter.
Grocery Tax Rebates
The effects of inflation have been observed on the Consumer Price Index for groceries and other basic necessities. The country has experienced a significant increase in the cost of living during the first two months of this year.
The cost of groceries has been recorded as the highest in over a decade. The payment for the grocery rebate is a one-time payment, and the expected date for this year’s rebate is 5th July 2024. The rebate amount will be in the range of $225 to $665.
Quebec Sales Tax Rebates
The Sales Rebate is administered by state authorities, and the Quebec Sales Tax is similar to GST/HST taxes. Returns are filed for the services and products purchased in the province for business purposes.
Small businesses must generate a minimum revenue to be eligible for the rebate. To claim the rebate, candidates can fill out the Online 459 form. The rebate is disbursed along with the GST/HST tax credits.
Amount of February Tax Rebate
The tax rebate amount is anticipated to increase by 10 percent, and the payment date for the rebate varies. The specific amounts for the February rebates are detailed in the table below:
| Rebate Name | Rebate Amount |
| GST/HST Tax Rebate | $496 to $650 |
| Carbon Tax Rebate | $225 to $650 |
| Grocery rebate | $225 to $665 |
| Quebec Sales Tax Rebates | More than $225 |
Applicants who did not receive the rebate for GST/HST and Quebec Sales Tax in January can expect to receive the rebate amount by February 5, 2024.
The original date for the carbon tax credit was January 15, 2024. However, for those who haven’t received the amount due to any circumstances, the payments are expected to be disbursed by February 15, 2024.
The application process for the grocery rebate is set to begin in the second week of February. As this rebate is a one-time payment, candidates are encouraged to promptly complete the application process and register to receive the benefits.