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How do I claim the Yukon carbon price rebate?

by TurboTax• Updated a day ago

Eligible groups in Yukon can claim a carbon price rebate to help offset the costs of the federal carbon tax. The CRA issues the rebate on a quarterly basis, with one payment per family. 

If you’re married or common-law, whomever has their tax return processed first will receive the rebate for both individuals in the couple. Rebates for any dependent children will also be included.

Individuals who live outside of Whitehorse will receive an additional 10% from July 2020 onward. Be sure to select the appropriate box on Form YT(S14) or in TurboTax to receive this supplement.

As a business, you can claim the carbon price rebate for the part of the year in which:

  • You lived in Yukon.
  • You operated a business or earned rental income in Yukon.
  • Your business had assets that burned fossil fuels.
  • You didn’t (and won’t) receive a carbon tax rebate for certain mining businesses.

Follow the applicable instructions to claim the carbon tax rebate in TurboTax as an individual or business.

  1. Answer the initial Personal info and Tax profile interview questions if you haven't already. This unlocks the Tax home screen.
  2. From the Tax home screen, select Provincial > Provincial Tax Credits (YT).
  3. At the Your Yukon Territory Tax Credits Profile, select the checkbox for Yukon Government Carbon Price Rebate, then Continue.
  4. At the Yukon Government Carbon Price Rebate screen, answer the Yes/No questions, then continue.
  5. If you answered Yes to operating a business or earning rental income, you’ll arrive at the Yukon Business Carbon Price Rebate screen. Enter all applicable business details, then continue.
  6. At the Here's your Yukon tax and credits summary, the rebate(s) are listed next to Yukon Government Carbon Price Rebate – Businesses and/or Yukon Government Carbon Price Rebate – Individuals.

Before you begin, complete the Introduction/Profile steps of your return until the PROVINCIAL tab is unlocked in the menu.

  1. From the menu, select PROVINCIAL, then Yukon.
  2. At the Congratulations, that's it for federal information screen, select Continue twice.
  3. At the Yukon Territory tax credits profile screen, select the checkbox for Yukon Government carbon price rebate and continue.
  4. Select Continue again.
  5. At the Yukon Government carbon price rebate for individuals screen, answer the Yes/No question, then continue.
  6. At the Yukon Government carbon price rebate for businesses screen, answer the Yes/No question, then continue.
  7. If you answered Yes to the business question, at the Eligible Yukon mining business - UCC for eligible mining asset screen, complete the form and continue.
  8. At the Yukon tax and credits summary, the business rebate (if applicable) is listed next to Yukon Business Carbon Price Rebate. The individual amount doesn’t appear in this summary.

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