The Ontario government has proposed a $200 rebate for taxpayers to help families manage rising expenses from the federal carbon tax and interest rates. Families with children would receive an additional $200 per eligible child. Cheques are expected to start mailing in early 2025, providing critical relief to families across the province.
For instance, a family of five with two adults and three children could receive up to $1,000 in support. This rebate plan is set to deliver $3 billion in financial relief to about 12.5 million adults and 2.5 million children in Ontario.
The funding for this rebate is made possible by an increase in provincial revenue from inflation-driven sales tax collections and changes to federal capital gains tax. Additional cost-saving measures will be outlined in the 2024 Ontario Economic Outlook and Fiscal Review, scheduled for release on October 30, 2024.
Written by Emily Chatwood