Federal Carbon Tax announcement: How it impacts small businesses

Last week, Prime Minister Justin Trudeau announced a three-year pause to the carbon price for heating oil for households and small businesses to help alleviate cost pressures, particularly for residents in rural communities. As of April 2024, the rural top-up rebate (Climate Action Incentive Payment) will also be increasing from 10 to 20 per cent of the baseline amount in addition to measures to help Canadians transition to electric heat pumps. These changes are expected to result in more money going to rural residents while supporting the transition to cleaner energy options.