More money is coming into the bank accounts of provincial residents and families this week, courtesy of the climate action tax credit.
“With the global inflation and an expensive holiday season, we know people need support now more than ever,” said Katrine Conroy, Minister of Finance.
“These are big challenges around the world. By boosting the Climate Action Tax Credit, we are providing more help with costs for people in B.C. as we also drive down emissions and grow the economy. While others would hike fees and give polluters a free pass, we’re taking action to support people and create a more sustainable future so people can build a good life in B.C.”
A single person can now receive as much as $447 per year, more than double what they received in 2022.
A family of four now receives as much as $893.50 per year. An estimated 70% of families and individuals who are eligible to get the quarterly payments from the Province can expect the maximum amounts.
The income ceiling for the credit will increase annually, with a goal to reach 80% of households in B.C. by 2030.
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