In response to the cost-of-living crisis facing many British Columbians, the province says it will begin issuing its newest affordability credit Wednesday (April 5).
Approximately 85% of British Columbians will be eligible to receive a third installment of the BC Affordability Credit in the form of direct deposit into their bank accounts. Amounts depend on income and family size — individuals can get up to $164, each child can get up to $41, and a family of four can get up to $410.
Premier David Eby said the government was committed to supporting residents through these difficult times.
Finance Minister Katrine Conroy emphasized the province’s focus on supporting those in need at a time when prices are high and people are struggling. This installment follows previous payments in October 2022 and January 2023.
The total cost of the credit to date is $1.5 billion.
Other earmarked funding in the 2023 Budget includes increased climate action tax credits for low- and middle-income earners, free prescription contraceptives, a permanent 10% increase in the BC Family Benefit, additional funding for school food programs, support for income and disability Assistance recipient support and, beginning in 2024, a tax credit of up to $400 for new tenants.
The province is urging residents who have not yet filed a tax return to do so or may not be able to receive certain credits.
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