All banks to label Canada Carbon Rebate correctly, as Liberals defend embattled policy [Video]

When Canadians receive their carbon pricing rebates on Tuesday, it will be the first time all banks will label the payment as the Canada Carbon Rebate, the federal government says.

This comes after years of inconsistent and vague phrasing on bank statements.

The quarterly rebate goes to Canadians who filed their income tax while living in Alberta, Saskatchewan, Manitoba, Ontario and all four Atlantic provinces.

Ottawa has been battling with banks about how the deposits are labelled since they moved to quarterly payments for the rebates in 2022.

Many Canadians were confused — or didn’t even realize they were getting a rebate — when payments showed up with vague labels like “EFT deposit from Canada,” “EFT Credit Canada” or just “Federal Payment.”

Some banks previously argued the term “Canada Carbon Rebate” went beyond their 15-character limit on deposit descriptions.

The payments vary by household size and province, while those in …