Tax-Credit Lift Puts More Money In B.C. Pockets

BCs climate action tax credit rolled out this week.

“As global inflation continues to impact the costs of everyday life, we’re making sure more people will receive more money to help with their bills,” said Katrine Conroy, Minister of Finance.

“B.C.’s price on carbon pollution continues to be one of the strongest and most comprehensive in Canada. Boosting the climate action tax credit is just one of the ways we are putting money in people’s pockets as we work toward a low-carbon future.”

It’s the second increased payment since the province raised thresholds and increased the credit.

A single person can now receive up to $447 per year, an increase of $250 from 2022. A family of four can now receive as much as $893.50, $390 more than last year.

It’s expected that more than two million families and individuals will receive the credit this year, and about 70% of them will qualify for the maximum payment.

The payments are coming out through the Canada Revenue Agency. The province notes - with scams on the rise - that you will not be seeing a text about the climate action tax credit.

The government says it will not contact you about tax credit - and if you see one, it’s likely fraud.

To learn more about the BC Tax Credit, visit Government of British Columbia.