Sales Tax on Carbon Pricing to Net Government $486 Million in 2024: Parliamentary Report

Published on January 25, 2024

The federal government will rake in nearly a half billion in sales taxes on the carbon tax this year, according to a Budget Office report. The figure calls into question Finance Minister Chrystia Freeland’s assertions that the carbon tax is “revenue neutral.” A report from the Parliamentary Budget Officer showed that doing away with the five percent federal Goods and Services Tax on carbon charges “would reduce federal GST revenues by $486 million” in the fiscal 2023–24 year, increasing to more than $1 billion in 2030–31. GST charges on carbon taxes will cost $182 million in Ontario this year and $96 million in Alberta, says the note, which was first reported on by Blacklock’s Reporter. In Quebec, the charges will come to $77 million, followed by $58 million in British Columbia, $29 million in Saskatchewan, and $18 million in Manitoba....

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