Climate Action Tax Credit Helps People With Everyday Costs

BC’s climate action tax credit arrives this week.

The Province increased income thresholds and climate action tax credits in the budget to support more people.

This week, people in British Columbia will be receiving their fourth quarterly climate action tax credit.

“Across the province, people are seeing devastating wildfires and severe drought, and this coming summer could be the worst ever. Putting a price on pollution is about fighting climate change, and to ensure it’s fair, we are providing support to most middle- and low-income families through the climate action tax credit,” said Katrine Conroy, Minister of Finance.

“We will keep taking action to help with cost-of-living pressures by delivering middle-income housing, reducing child care and ICBC costs, and boosting tax credit and benefits.”

A family of four receiving $890 over the course of this year will see their payments increase to $1,008 a year, starting in July. Individuals receiving $447 this year will instead collect $504 a year.

Approximately 65% of people in B.C. receive money back through the tax credit.

The credit will increase annually with the goal of 80% of individuals and families receiving the credit by 2030.

The credit is delivered to people by direct deposit through the Canada Revenue Agency, with the federal GST/HST credit.

Of note - the Province says people should be wary of any texts relating to the tax credit, as its most likely fraud.

To learn more, visit Government of British Columbia.