The Yukon Government Carbon Price Rebate will continue to benefit Yukoners in 2022–23 as individuals are set to receive more money, on average, than they pay in carbon pollution pricing.
Quarterly payments for the 2022–23 annual rebate will begin in July 2022. From July 2022 to June 2023, Yukoners will receive an annual rebate of $320 with a 10 per cent remote supplement for individuals living outside of Whitehorse. Rebates will be issued as quarterly payments of $80 for those in Whitehorse and $88 for those living outside of Whitehorse. The Canada Revenue Agency will issue these payments in July 2022, October 2022, January 2023 and April 2023.
Federal carbon levies charged in the Yukon are estimated to be approximately $26 million in 2022–23. This includes levies collected from non-eligible groups including visitors, the Government of Canada and the Government of Yukon. Overall, individuals are projected to pay approximately 26 per cent in federal levies and will receive 45 per cent of the total in rebates. The rest of the money will be distributed to eligible groups in the Yukon, including First Nations governments and municipal governments.
Businesses in the Yukon will continue to receive their carbon rebate as a refundable credit when they complete their tax return. This credit is based on a weighting of assets, which includes incentives for investments in green technologies and equipment. The business rebate will increase significantly over 2021–22 rising from $8.81 to $39.62 per $1,000 of eligible assets. This is largely the result of unclaimed rebates in the previous year.
Businesses are also eligible for Super Green Credits which support investments in green technology and equipment that contributes to the Yukon’s transition to a cleaner economy. This credit is worth $198.10 per $1,000 in qualifying assets in 2022–23.
Our government is continuing to deliver on our commitment to return all carbon pricing revenues back to Yukoners. This program ensures that, on average, Yukoners receive more money than they pay in levies and can direct those rebates towards energy improvements in their homes or for their businesses. Our made-in-Yukon carbon rebate continues to provide incentives for green actions while making sure the territory remains competitive as we transition to a cleaner economy.
Minister of Finance Sandy Silver
The Government of Yukon uses existing fuel-use data to estimate anticipated levies so Yukoners don’t have to wait for their rebate. It allows us to issue rebates that align with the federal levies that Yukoners pay at the pump.
The Yukon Government Carbon Price Rebate is revenue neutral. All federal levies collected in the Yukon are returned to Yukoners and are not used to fund other programs by government.
As outlined in Our Clean Future, rebates support Yukoners and Yukon businesses to invest in low-carbon alternatives, ensuring the territory remains competitive as we transition to a green economy while protecting vulnerable families.
Yukon individuals, businesses, First Nations governments and municipal governments are eligible to receive rebates.
Even with the impact of the pandemic, non-eligible groups, such as tourists, the Yukon government and the federal government are projected to contribute approximately 20 per cent of all federal carbon levies collected in the Yukon in 2022–23.
The Yukon’s rebate system is the result of significant discussions with Yukoners, governments and industry. It also aligns with Yukon’s commitments under the Pan-Canadian Framework on Clean Growth and Climate Change.
Rebates are calculated annually and are responsive to changes over time.
Yukon individuals will receive their two final rebates for the 2021–22 year in January, 2022 and April, 2022. The final rebates for that year will be $44 with an additional $4.40 for the remote supplement.
Renée Francoeur
Cabinet Communications
867-334-9194
Renee.Francoeur@yukon.ca
Eric Clement
Communications, Finance
867-393-6482
Eric.Clement@yukon.ca