Eligible British Columbians will soon receive a rebate designed to “offset the impact of carbon taxes,” and it could leave them hundreds of dollars richer.
The BC climate action tax credit is a quarterly payment, and starting July 1, it will increase as part of BC’s Budget 2024 proposal.
The new amounts would be $504 for individuals, $252 for spouses, and $126 for each child, with the income thresholds rising to $41,071 for individuals and $57,288 for families.
The Ministry of Finance announced that automatic payments would start appearing over the next week, with disbursements beginning last Friday (July 5).
The credit, distributed by the Canada Revenue Agency (CRA) alongside the GST/HST credit, will appear as a payment from the Government of Canada.
Quarterly credits are typically deposited around the fifth of the month, though delivery may take up to 10 days.
Learn more about the Budget 2024 proposal on the BC website.
With files from Nikitha Martins