Form B402-1 Fuel Charge Return Schedule for Fuel Held in a Listed Province on Adjustment Day Under Section 38 of the Greenhouse Gas Pollution Pricing Act - Canada

Form B402-1 Fuel ChargeReturn Schedule for Fuel Held in a Listed Province on Adjustment Day Under Section 38 of the Greenhouse Gas Pollution Pricing Act - Canada is used for reporting and remitting the fuel charge on fuel held in a listed province on the adjustment day. The Greenhouse Gas Pollution Pricing Act is a Canadian federal law aimed at reducing greenhouse gas emissions by implementing a carbon pricing system. The fuel charge is a mechanism by which the government imposes a price on certain fossil fuels that are consumed or used in a listed province. This form is used by businesses and individuals to calculate and report the amount of fuel charge they are liable for and to remit the corresponding payment to the Canadian government.

The Form B402-1 Fuel Charge Return Schedule for Fuel Held in a Listed Province on Adjustment Day under Section 38 of the Greenhouse Gas Pollution Pricing Act in Canada is typically filed by businesses or individuals who are fuel vendors or fuel distributors operating in a province listed under the Act. This form is used to report information and calculate the amount of fuel charge payable based on the quantity of fuel held in inventory on the specified adjustment day.

FAQ

Q: What is Form B402-1?A: Form B402-1 is the Fuel Charge Return Schedule for Fuel Held in a Listed Province on Adjustment Day under Section 38 of the Greenhouse Gas Pollution Pricing Act in Canada.

Q: What is the purpose of Form B402-1?A: The purpose of Form B402-1 is to report and calculate the fuel charge payable for fuel held in a listed province on adjustment day.

Q: What is the Greenhouse Gas Pollution Pricing Act?A: The Greenhouse Gas Pollution Pricing Act is a federal legislation in Canada that establishes a carbon pricing system to reduce greenhouse gas emissions.

Q: What are listed provinces?A: Listed provinces refer to provinces in Canada where the federal fuel charge applies. As of 2021, the listed provinces are Alberta, Manitoba, Saskatchewan, and Ontario.

Q: Who needs to file Form B402-1?A: Businesses that hold specified fuel in a listed province on adjustment day and meet certain criteria are required to file Form B402-1.

Q: What is the fuel charge payable?A: The fuel charge payable is the amount that businesses are required to pay for holding specified fuel in a listed province on adjustment day. It is calculated based on the carbon pollution content of the fuel held.

Q: Are there any penalties for not filing Form B402-1?A: Yes, there are penalties for not filing Form B402-1 or for filing false or deceptive information. It's important to comply with the filing requirements to avoid penalties.