B.C. boosts July climate action tax credit by $450 due to COVID-19

B.C. families will be getting a $450 boost to their climate action tax credit.

The one-time boost will apply to the July tax credit payment. Through the enhanced credit, eligible individuals will receive up to $218, children up to $64, and a family of four will receive up to $564.

In a statement Thursday, the province said that, starting this week, over 80 per cent of families and individuals in B.C. will automatically receive the enhanced tax credit.

“Many British Columbians are still worried about how they can cover costs such as transportation so they can return to work, pay for groceries and find day camps for their children,” said finance minister Carole James, in a press release.

“The enhanced climate action tax credit puts extra money in the pockets of British Columbians for their household expenses and to spend at local businesses. This is a needed boost as we work together to restart the economy."   

The move is part of the province’s COVID-19 Action Plan – which includes B.C.’s Emergency Benefit for Workers – aimed at helping businesses and people through the pandemic.

The ehanced credit translates to a $174.50 boost for individuals, a $51.25 increase for children, and a lift of $451.50 for a family of four, which is double the annual amount eligible households would have received prior to the COVID-19 Action Plan.

British Columbians will receive the climate action tax credit along with their federal GST/HST returns. Those eligible for the enhanced benefit will automatically receive it if they have completed their B.C. 2019 income tax return.

Prior to the boost, the scheduled July payment for the tax credit was up to $43.50 per adult, $12.75 per child and up to $112.50 for a family of four.

© Richmond News