15
Can anyone give me an idea where to start? I don't know anything about Carbon Tax and the file landed on my desk from an employee that was terminated............yikes!
Carbon Tax reporting
- Thread starter Gord M
- Start date
2
Looking more into it, but it's possible that it falls under the IFTA tax?
But if you stay intra province, it also states you don't need to register
www.canada.ca
But if you stay intra province, it also states you don't need to register
Carbon pollution pricing – what you need to know - Canada.ca
Pollution pricing – what you need to know
It does not fall under IFTA (it should, but that would make it too easy). You need to first register for a CT account from CRA.
www.canada.ca
Once registered you fill online through the CRA portal. I use the same calculations from IFTA for fuel used and fuel purchased and enter them in the forms found on the site above and it gives you the number. You have to do the calculation for each province that falls under the Carbon Tax. Our Fleet Management software added a report for Carbon Tax calculation. PM if you want.
www.canada.ca
Carbon pollution pricing – what you need to know - Canada.ca
Pollution pricing – what you need to know
Once registered you fill online through the CRA portal. I use the same calculations from IFTA for fuel used and fuel purchased and enter them in the forms found on the site above and it gives you the number. You have to do the calculation for each province that falls under the Carbon Tax. Our Fleet Management software added a report for Carbon Tax calculation. PM if you want.
Report the fuel charge - Canada.ca
All fuel charge registrants must file Form B400, Fuel Charge Return – Registrant and all applicable schedules to report the net fuel charge. If you are a non-registrant and you have to report the fuel charge under the Greenhouse Gas Pollution Pricing Act, you must file Form B401, Fuel Charge...
2
Just looked at the primings come 2021.. there goes any GST/HST you'd get back for those quarters.
20
2
@thebluffs1 - Was just IFTA, but we just got our account setup with the CRA to start the Carbon Tax as well
20
Just a reminder to ensure that you file retroactively if you are that late in filing. First returns were due for fuel purchased in April of 2019, so theres a pretty solid 8 months that you need to ensure you report with CRA to avoid issues down the road if you are just getting started on this now.
20
Yes.... if you run ONLY in Ontario then no, it's added to the fuel you purchase. IF you run anywhere else, you'll want to in order to get the rebates. We've always had a rebate since this started as we operate mostly in the US and our largest amount of fuel is purchased on Ontario.
We Have never applied for this rebate so how much is this rebate roughly?
I mean like how cents per liter?
20
A small fleet can see about 1000.00-1500 maybe more per quarter depending on where you run.
| Light fuel oil | $0.0537 per litre | $0.0805 per litre as of April 2020 |