Canadian Small Businesses to Receive $2.5 Billion in Carbon Rebates This December

The federal government will distribute rebates covering fuel charge proceeds from 2019 to 2024, alongside new measures to reduce credit card fees and improve payment processing.

Approximately 600,000 small and medium-sized businesses will benefit from the Canada Carbon Rebate for Small Businesses, receiving payments by the end of 2024.
Rebates will vary based on the number of employees and the province of operation, with businesses in jurisdictions where the federal fuel charge applies being eligible.
The government has extended the tax return filing deadline to December 31, 2024, to ensure more businesses can receive their rebates.
New measures include a revised Code of Conduct for the Payment Card Industry, effective October 30, 2024, to protect businesses accepting credit and debit card payments.
Reduced credit card transaction fees, effective October 19, 2024, are expected to save small businesses around $1 billion over five years.