Some BC families are getting more than $400 to fight inflation

Some families in the province are seeing hundreds of extra dollars in their bank account courtesy of the BC government in an effort to deal with the rising living costs.

The BC climate action tax credit (CATC) payment is a one-time enhancement for low- and moderate-income British Columbians that went out Wednesday, October 5.

Eligible families are receiving an additional $164 per adult and $41 per child.

So, a two-parent household with two children can get up to $410.

Partial payments are available but if the adjusted family net income is over $150,051, they will not receive any credit.

Single people without children have not been left out of this provincial payment. If they earn less than $36,901, they will receive $164.

BC Government

Since this enhanced payment has an increased income threshold amount, about 85% of people in BC will receive a full or reduced credit through this relief, the province says.

Families didn’t need to apply for this enhanced payment. The money is automatically sent on behalf of the province through the Canada Revenue Agency if family members completed their 2021 income tax return.

“The enhanced payment will be in place of the regular October 2022 payment, combined with the federal goods and services tax/harmonized sales tax (GST/HST) credit,” the province explains.

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The CATC payment is part of a $600 million package of support measures to help British Columbians struggling with global inflation as the cost of living continues to rise.

The temporary increase is estimated to cost the province about $500 million.

Last month, the Student and Family Affordability Fund gave $60 million to school districts to help them expand school meal programs, ensure students have the school supplies they need and cover additional fees students may need to participate in activities (like field trips).

Plus, more money is on the way in 2023.

In January, February, and March, a two-parent household with two children will receive up to $350.

This top-off for families is thanks to the BC Family Benefit, which is rising by $58.33 per child for those three months.

Like the CATC, there is no need to apply for these temporary increases. As long as a family’s income tax filing is up to date, they will receive the extra cash.

In the new year, the province will also cap rent increases below inflation at 2% for 2023.

Another way the province says it is trying to support British Columbians is by working with BC Hydro on an additional cost-of-living measure, to help residents reduce expenses.