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How do I claim the Yukon carbon price rebate?

by TurboTax•1• Updated 1 month 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 interview questions if you haven't already. This unlocks 2024 tax return.
  2. From 2024 tax return, select Provincial > Provincial Tax Credits (YT).
  3. At Your Yukon Territory Tax Credits Profile, select the checkbox for Yukon Government Carbon Price Rebate, then Continue.
  4. At Yukon Government Carbon Price Rebate, answer the Yes/No questions, then continue.
  5. If you answered Yes to operating a business or earning rental income, you’ll arrive at Yukon Business Carbon Price Rebate. Enter all applicable business details, then continue.
  6. At 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 Congratulations, that's it for federal information, select Continue twice.
  3. At Yukon Territory tax credits profile, select the checkbox for Yukon Government carbon price rebate and continue.
  4. Select Continue again.
  5. At Yukon Government carbon price rebate for individuals, answer the Yes/No question, then continue.
  6. At Yukon Government carbon price rebate for businesses, answer the Yes/No question, then continue.
  7. If you answered Yes to the business question, at Eligible Yukon mining business - UCC for eligible mining asset, complete the form and continue.
  8. At 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.