Impending federal carbon pricing could result in $250M in GST revenues
The federal government's impending national carbon price could bring in more than 250 million dollars in GST revenues next year, but Ottawa doesn't intend to account for those funds in its rebate program.
A spokesman for Finance Canada says the government doesn't believe Ottawa will see a ``significant rise'' in its net GST take even though the GST will be charged on top of the carbon levy.
Jack Aubry says businesses can offset any additional GST they pay on the carbon levy through existing input tax credits.
Individuals will pay the GST on top of any carbon price built into the cost of goods and services, either directly on fuels like gasoline or natural gas, or indirectly as businesses pass on their carbon levy costs to consumers.