The Carbon Tax is an environmental tax levied on the carbon content of fuels. FortisBC collects this tax on behalf of the provincial government and Carbon Tax is subject to the Goods and Services Tax (GST).
Alberta: (new carbon tax effective Jan 1, 2017)
Carbon Tax revenue estimated for 2017-18 is 1.2 Billion. Gst at 5% that the Federal government imposes on the Carbon Tax will be $60 Million. In 2018-19 the Carbon Tax rate will rise and is estimated to bring in 1.7 Billion. GST on this amount will be $ 85 Million.
British Columbia:
Since 2008 (July 1) GST has been applied to the Carbon Tax in B.C. The latest 2016/17 estimate of carbon Tax Revenue is 1.271 Billion. GST on this amount will be $63.55 million. In 2015/16 the carbon tax revenue was $1.248 billion and the GST extracted from this revenue neutral tax in B.C. was $62.4 million.
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| http://finance.alberta.ca/publications/budget/budget2016/fiscal-plan-complete.pdf P.100 |
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