People can expect additional help with another BC Affordability Credit in their bank accounts this April.
“Too many people are currently struggling with rising prices driven by global inflation. By providing this targeted affordability credit, low- and middle-income British Columbians will have a little more money to survive through the end of the month,” Premier David Eby said. “From auto insurance to water tariffs to child care costs, we will use every opportunity we get to lower the cost of daily living for British Columbians.”
Approximately 85% of British Columbia residents will receive an additional full or partial payment as early as April 5, 2023, just as they received January’s BC Affordability Credit. The April payment totals up to $164 per adult and $41 per child, or approximately $410 for a family with two children.
“In difficult times, government should be there for the people and protect people now from the effects of global uncertainty and help create a strong future where everyone can build a good life,” said Treasury Secretary Katrine Conroy. “That’s exactly why we’re putting this year’s surplus to work now for the people, and next week the 2023 budget will set out our three-year plan for the future.”
This loan is the latest in a series of cost-of-living measures announced since fall 2022. These include capping rent increases, helping families with back-to-school expenses, providing a living cost loan from BC Hydro and freezing ICBC prices for two years. Additional support includes three enhanced BC Family Benefit payments in January, February and March 2023, providing up to an additional $58 per child each month and reaching more than half a million children in BC annually
The BC Affordability Credit is one of the ways the government is helping people with today’s cost of living challenges caused by global inflation. The release of the 2023 budget next week will continue to make smart investments in the things people care about most to help build a stronger and safer BC for everyone – not just those at the top.
Fast Facts:
The BC Affordability Credit is paid with the Climate Action Tax Credit through the Canada Revenue Agency. The deposit can take up to 10 days. Individuals who earn the BC Affordability Credit earn an average of about $160 from each credit. Families of two adults receiving the BC Affordability Credit receive an average of $255.
Learn more:
For questions about BC Affordability Credit or BC Climate Action Tax Credit payments, visit the Canada Revenue Agency (CRA) MyAccount, MyBenefits app or call the CRA Benefits inquiry line: 1.800.387-1193
My account:
https://www.canada.ca/en/revenue-agency/services/e-services/e-services-individuals/account-individuals.html
MyBenefits app:
https://www.canada.ca/en/revenue-agency/services/e-services/cra-mobile-apps.html
For British Columbian cost of living support measures, visit: https://www.gov.bc.ca/savemoney
Find out about the increased BC Family Benefit:
Family Allowance in BC – Province of British Columbia (gov.bc.ca)
Read more about the BC Affordability Credit and the Climate Action Tax Credit:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/climate-action
