Name: B.C. climate tax credit set to increase this week
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B.C. climate tax credit set to increase this week

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Skip to contentJoin our NewsletterHomeEnvironmentOver two million British Columbians are expected to receive the climate action tax credit. Here's how much money you will receive.Stefan LabbéThis week, more than two million B.C. households will receive a cheque&nbsp;from the province — their share of a climate action tax credit that could climb to nearly $900 for a family of four.The B.C. government raised the income threshold for the tax credit in its latest budget. Those increases mean the credit this year could climb to $447 for a single person, up $250 from last year. A family of four could receive up to $893.50, up $390 from 2022.B.C. residents 19 years old and over who have filed an income tax return are&nbsp;eligible to receive the credit. Additional credits are paid out for spouses or common law partners, and children, though only one person in a family can receive the payment.For parents who live&nbsp;with a child under 19 years old, they must be registered with&nbsp;the Canada Child Benefit, which can be accessed through an enrolment form&nbsp;or through the&nbsp;CRA's&nbsp;My Account portal.Parents in shared custody arrangements face special rules.An estimated 70 per cent of those who qualify for the climate tax action credit are expected to receive the full amount this year, according to the province. That includes individuals who earn $39,115 or less&nbsp;and families whose annual income sits at or below $50,170.Payments are issued quarterly. That means that anyone who wishes to receive a payment through the climate action tax credit must be a resident of B.C. on the first day of the current financial quarter and last day of the previous quarter.“For example, to get the October payment, you must have been a resident of B.C. on both Oct. 1 and July 1,”&nbsp;notes the province on its website.More details on how the credit decreases with income can be found on the B.C. government’s tax portal.The tax credit is expected to rise with the price of carbon until it reaches $170 per tonne in 2030. By 2030, 80 per cent of B.C. households are expected to receive a full or partial credit.The climate action tax credits is aimed at helping people with low and middle incomes offset their share of&nbsp;B.C.’s carbon tax, which is used to pay for clean energy projects like charging infrastructure, as well as other green services and programs meant to tackle climate change.The payments, which are administered by the Canada Revenue Agency, are paid out at the same time as the federal GST/HST credit.In a statement issued Thursday, the Ministry of Finance warned British Columbians it would not contact them regarding the carbon credit by text message. Any attempt to do so could be the result of fraud.Doubts or questions can be directed to the B.C. government at ITBTaxQuestions@gov.bc.ca.If it is, we could use your help. Consider a small monthly contribution to support your local journalists. Click here to learn more.Experts, feds slam report saying clean fuel regulation will hit poor Canadians hardestMay 18, 2023 2:45 PMB.C. gas projects could triple emissions target by 2030, finds reportMay 16, 2023 10:00 AMRedacted B.C. gas report sparks claims of misinformationAug 8, 2023 6:00 AMFortisBC's plan to keep burning gas 'not equitable,' claims B.C. cityAug 8, 2023 6:00 AMHeat pumps outperform gas even in coldest temperatures, finds Canadian researcherSep 11, 2023 8:00 AMNo thanksNo thanks

Skip to contentJoin our NewsletterHomeEnvironmentOver two million British Columbians are expected to receive the climate action tax credit. Here's how much money you will receive.Stefan LabbéThis week, more than two million B.C. households will receive a cheque&nbsp;from the province — their share of a climate action tax credit that could climb to nearly $900 for a family of four.The B.C. government raised the income threshold for the tax credit in its latest budget. Those increases mean the credit this year could climb to $447 for a single person, up $250 from last year. A family of four...

B.C. climate tax credit set to increase this week

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