Some BC families could receive more than $400 to help with inflation

British Columbians can expect to see a bonus in their bank accounts this month due to the BC Affordability Credit.

About 85% of British Columbians are eligible for the credit, which is automatically applied through the Canada Revenue Agency.

Residents can expect the money to hit their bank account as soon as Thursday, January 5.

Adults will see as much as $164 and $41 per child and a family with two children will see as much as $410.

The amount British Columbians receive depends on their income and family size, “with individuals earning up to $79,000 and families of four earning up to $150,000 receiving a full or partial payment,” the province explained.

This is a one-time payment.

The province added that about 50% of BC residents will receive the maximum payment. 

“The winter season often brings extra expenses for people and, with the rising costs we’re seeing around the world, it can add stress to already stretched household budgets,” Minister of Finance Katrine Conroy said.

“We know it won’t cover all the bills, but hopefully this little extra from the BC Affordability Credit will help take a bit of the pressure off as we head into a new year.”