MORE than 285,000 families throughout B.C. will see bigger payments in their bank accounts starting this month, thanks to the permanently increased BC Family Benefit.
“Global inflation and higher interest rates continue to be hard on many families right now,” said Grace Lore, Minister of State for Child Care, on Tuesday. “The BC Family Benefit is one way we’re helping families provide the food, clothes and opportunities their kids need to have the best start possible.”
The BC Family Benefit is a regular monthly payment from the provincial government. Eligibility is based on income and number of children. The benefit reaches families with yearly earnings below $106,908 with one child and $143,783 with three children.
As of July 2023, the benefit increased by an additional $250 per year for a two-parent family of four and as much as $750 for a single-parent family with two children. Approximately 95% of single-parent families in B.C. get the benefit, with payments averaging $2,254 over the year.
“While we can’t control global forces, we can lower costs for people and take some pressure off families,” said Katrine Conroy, Minister of Finance. “The increase to the BC Family Benefit, the expanded climate action tax credit, record investments in child care, and free contraception for everyone in B.C. These are just some of the actions we’re taking to put more money in people’s pockets.”
Other recent measures the Province has delivered to save people money include a new credit for renters coming in 2024, a rent cap below this year’s inflation, and increases to the BC Family Benefit for the first three months of 2023.
Quick Facts:
* The BC Family Benefit payment is issued around the 20th day of each month.
* The payments are now 10% higher than last year, and single parents can get up to $500 a year on top of that.
* People will see their increased payments delivered through the Canada Revenue Agency combined with the federal Canada Child Benefit program.
* Eligibility is determined automatically when families register for the Canada Child Benefit.
* People who receive the BC Family Benefit also see money back through the Climate Action Tax Credit.
* The B.C. government will not contact you about the B.C. Family Benefit by text message. If you get a text about the credit, it may be fraud. If unsure, contact:Â ITBTaxQuestions@gov.bc.ca
Learn More:
Learn more about the BC Family Benefit:Â https://www2.gov.bc.ca/gov/
For information about other ways to apply for the Canada Child Benefit:Â https://www.canada.ca/en/
