On Monday, Albertans might notice some extra money in their bank account.

This will be the first payment of the year when it comes to the federal government's Climate Action Incentive Payment (CAIP).

To receive the CAIP, the Canada Revenue Agency (CRA) determined your eligibility when you last filed your income tax and benefit return.

In April of 2023, the government announced the payments would be increasing this year.

Annually the CAIP provides Albertans an annual credit of:

  • $772 for an individual
  • $386 for a spouse or common-law partner
  • $193 per child under 19
  • $386 for the first child in a single-parent family

2024 payments are scheduled for January 15 with the remainder of the 2024 payments will be made in April, July, and October.

The change in amounts varied but included:

  • $48.25 per child under 18, up from the previous $33.75
  • $193 for an individual, up from the previous $134.75
  • $96.50 for a spouse or common-law partner, up from the previous $67.50

The CAIP is a tax-free amount paid to help individuals and families offset the cost of federal pollution pricing. Residents of Ontario, Saskatchewan, Manitoba, and Alberta can access it. 

For residents of small and rural communities, the CAIP contains a 10 per cent rural bonus of the base amount.  The CRA does not charge or give interest on any CAIP overpayments or underpayments.

On January 5, the GST rebate was sent out to all those who were eligible. 

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