BUDGET 2023: BC benefit for families with kids to permanently increase

Family with young children. (Shutterstock)

Even more financial relief is coming to BC families with children, beyond the already announced initial relief for the first three months of 2023.

With rampant inflation, families are facing growing cost pressures for healthy food, bills, and extracurricular activities.

Katrine Conroy, the BC finance minister, announced today during her 2023 provincial budget speech that the BC Family Benefit amounts will return to their normal amounts starting in April 2023.

Then starting on July 1, 2023, the amounts will be permanently increased by 10%, based on the number of children under age 18 per family.

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The maximum annual benefit will go up to $1,750 for a family’s first child, $1,100 for a second child, and $900 for each additional child after the second child.

Another major change is the elimination of the maximum annual benefit for families with adjust family net income of over $27,354, which means a two-parent family with two children and this household income level could receive up to an additional $250 annually.

As well, the minimum benefit will be increased to $775 for the family’s first child, $750 for a second child, and $725 for each additional child for families earning up to an adjusted family net income of $87,533. This means a two-parent family with two children will see at least $145 more each year.

For single-parent families, a maximum annual supplement of $500 will be provided, which means a single parent with two children could receive up to an additional $750 per year after the benefit increase and the additional supplement. This major increase for single parents is particularly vital given that such households typically have a lower income and are more likely to be female.

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