Time to get your BC renter’s tax credit is running out

Tax time is here, and there’s one exciting addition you’ll be entitled to if you are a tenant, which is the BC renter’s credit.

Individuals and families with an adjusted income of $60,000 or less could receive up to $400.

Those who make more than $60,000 but less than $80,000 “may receive a reduced amount,” according to the BC government.

So, how do you get the credit?

According to the BC government, the Canadian Revenue Agency administers the tax credit. Getting your renter’s tax credit is easy, and it’s all done when you fill out your BC income tax return. If you use NETFILE, it will walk you through the steps. If you are still using the booklet and mailing it in, it’s on Form BC479.

tax credits

BC credits for tax forms (CRA)

The deadline to file your taxes is April 30 — unless you are self-employed in which case it is June 15.

Aside from the income range, there are some additional eligibility requirements.

For one, you must have occupied an eligible rental unit for at least “Six one-month periods.”

For the tax year this credit applies for (2023), you must have been a BC resident on December 31 and at least 19, a parent, or cohabiting with a spouse or common-law partner.

Some reasons you may not be able to claim the credit include:

  • Cohabiting with someone who has already claimed the credit for the tax year.
  • Were in prison or a similar institution on December 31 of the tax year or were confined for “periods totalling more than six months during the year.”
  • Were employed in a foreign country or resided with family or a servant of the employee of a foreign country in Canada.
  • Are dead before the end of the year.

“The credit is reduced by 2% of the amount by which your 2023 adjusted income exceeds $60,000. The credit is reduced to zero at $80,000,” the BC government credit portal says.

“You may be asked by the Canada Revenue Agency to provide information to support your eligibility after you file your tax return, such as the name of the person that you pay rent to or proof of rent paid.”

Did you already try and claim the $400 but got less than you thought? Let us know by emailing [email protected] with your experiences!

This piece was first published in February 2024 and has since been updated.