Schedule 3 · Matters relating to carbon tax

THIRD SCHEDULESections 16(3)(b) and 26(1)Matters relating to carbon taxPart 1CARBON TAX RATE1.The carbon tax rate is as follows:

for carbon tax for GHG emissions in 2023 or any earlier emissions year — $5/tCO2e;

for carbon tax for GHG emissions in 2024 or 2025 — $25/tCO2e;

for carbon tax for GHG emissions in 2026 or any later emissions year — $45/tCO2e.[Act 37 of 2022 wef 01/01/2024]Part 2CARBON PRICE1.Subject to section 31A, a fixed-price carbon credit has a value as follows:

for any fixed-price carbon credit purchased in 2024 or any earlier year — $5;

for any fixed-price carbon credit purchased in 2025 or 2026 — $25;

for any fixed-price carbon credit purchased in 2027 or any later year — $45.[Act 37 of 2022 wef 01/01/2024]