Overview

• 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.