More cost-of-living support coming for people this spring
People can count on some extra help through another BC Affordability Credit in their bank accounts this April.
“Too many people are struggling with rising prices right now driven by global inflation. By providing this targeted affordability credit, lower- and middle-income British Columbians will have a bit more money to help them make it to the end of the month,” said Premier David Eby. “From car insurance to hydro rates to child care costs, we’ll take every opportunity available to us to reduce the costs of daily life for British Columbians.”
Approximately 85% of British Columbians will receive an additional full or partial payment as early as April 5, 2023, in the same way they received January’s BC Affordability Credit. The April payment will provide as much as $164 per adult and $41 per child, or approximately $410 for a family with two children.
“When times are tough, government should be in people’s corner and defending people from the impacts of global uncertainty now, while helping create a strong future where everyone can build a good life,” said Katrine Conroy, Minister of Finance. “That’s exactly why we’re putting this year’s surplus to work for people now and, next week, Budget 2023 will lay out our three-year plan for the future.”
This credit is the most recent in a series of cost-of-living measures announced since fall 2022. They include capping rent increases, supporting families with back-to-school expenses, delivering a BC Hydro cost-of-living credit and freezing ICBC rates for two years. Other supports include three enhanced BC Family Benefit payments in January, February and March 2023, which are providing as much as an additional $58 per child each month, and reaching more than half a million children annually in B.C.
The BC Affordability Credit is one of the ways government is helping people with today’s cost of living challenges as a result of global inflation. Next week’s release of Budget 2023 will continue to make smart investments in the things that matter most to people to help build a stronger, more secure B.C. for everyone – not just those at the top.
Quick Facts:
- The BC Affordability Credit is paid with the Climate Action Tax Credit through the Canada Revenue Agency.
- It may take as many as 10 days to be deposited.
- Individuals receiving the BC Affordability Credit will get an average of approximately $160 through each credit.
- Families with two adults receiving the BC Affordability Credit will get an average of $255.
Learn More:
For questions about the BC Affordability Credit or BC Climate Action Tax Credit payments, go to the Canada Revenue Agency’s (CRA) MyAccount, MyBenefits app or contact the CRA benefits enquiry line: 1 800 387-1193
MyAccount:
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 information about measures to help British Columbians with the cost of living, visit: https://www.gov.bc.ca/savemoney
Learn about the increased BC Family Benefit:
B.C. family benefit – Province of British Columbia (gov.bc.ca)
Read about the BC Affordability Credit and Climate Action Tax Credit:
https://www2.gov.bc.ca/gov/content/taxes/income-taxes/personal/credits/climate-action