Yukon’s Carbon Price Rebate Program: Rebates for Mining Businesses
No fixed amount
Rebate
Description:
The Yukon Carbon Price Rebate Program helps Yukon businesses offset the cost of carbon pricing. Businesses that file a tax return in the territory receive a rebate from the Yukon government, administered by the Canada Revenue Agency (CRA). To ensure fairness, the program analyzes fuel consumption trends to estimate carbon levy payments for different business groups. This ensures that, on average, businesses get more back in rebates than they pay in levies.
Comments on Funding:
Continuous Intake
Eligibility:
Applicants mining business must be:
1. is a Yukon business;
2. files a tax return in the Yukon;
3. conducts substantially all of its mining activities under a valid class 4 placer mining land use approval or a valid quartz mining licence issued under section 135 of the Quartz Mining Act.
Eligible Yukon mining assets are divided into 2 categories based on the capital cost allowance (CCA) class as follows:
1. Buildings and equipment: classes 1, 3, 10, 10.1, 13, 16, 22, 28, 29, 38, 39, 40, 41, 41.2, 43 and 53.
2. Assets eligible for a Super Green Credit: classes 43.1, 43.2, 54, 55, and 56.
Application Steps:
Applicants must:
1. Contact CRA for T1 tax return applications:
a) Phone 1-800-959-8281.
b) If you’re within the Yukon’s 867 area code, you can phone the CRA Northern Service Centre 1-866-426-1527.
2. For T2 tax return applications:
a) Phone 1-800-959-5525.
b) If you’re within the Yukon’s 867 area code, you can phone the CRA Northern Service Centre for businesses 1-866-841-1876.
Documentation Needed:
Applicants must submit their respective income tax returns:
1. Corporations: T2 corporation income tax return.
2. Individuals with unincorporated businesses: T1 income tax return.
Other Things to Note:
About the author
Maurice
