I filed my taxes - I had a balance owing and made the payment. When checked my CRA account, the Carbon Rebate (CCR) was not deposited into my bank account, but was given as a tax credit. So now I have a negative balance equal to the rebate amount. Will the future payments also be credits instead of deposits? Where do I report the credits on 2024 tax form?
The Canada Carbon Rebate (CCR) is not combined with the balance owing or the tax refund from the return. These are separate payments. If there is a balance owing on the return, it has to be paid in full. CCR payments are received separately on these dates: on the 15th of April, July, October and January.
The balance I owed was paid in full. When I checked my CRA account online, it showed
"Canada Carbon Rebate payment of March 26 2024 applied".
Under that 2023 Assessment and all the appropriate taxes owed and applied.
Then the final two lines:
"Apr. 26, 2024 Payment dated April 25, 2024 xxxx(amt I paid) -140 (the rebate)
Balance -140 "
@Me1951 You would have to contact the CRA to see why they applied the Canada Carbon Rebate to your tax account. If you are in Canada or the United States, you can call the CRA at 1-800-959-8281. If you are elsewhere, you can call 613-940-8495. This page has more ways to contact the CRA: Contact the Canada Revenue Agency