B.C. families will get the last of a bonus benefit next month | Daily Hive

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There’s only one month remaining to get the B.C. family benefit payment with an additional bonus.

B.C. launched the bonus benefit in July 2024, but it was set to expire in June 2025. The bonus is part of the B.C. family benefit, which provides a tax-free monthly payment to families with children under 18.

Beginning July 2024, families have received the bonus benefit payment as a combined payment with the Canada child benefit each month. The Canada Revenue Agency administers the benefit, and to obtain it, you and your spouse or common-law partner must file a T1 Income Tax and Benefit Return.

If you already have a child who’s registered for the Canada child benefit, they’re automatically registered to get the B.C. family benefit. Otherwise, you need to apply.

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How much can you get from the B.C. family benefit payment?

According to the province, the maximum annual benefit parents may receive, including the bonus payment, is $2,188 for their first child, $1,375 for their second child, and $1,125 for each additional child. These amounts are adjusted based on net income for the 2023 tax year.

You’ll receive the maximum annual benefit if you have an adjusted family income of less than $35,902 for the 2023 tax year.

If your income is between $35,902 and $114,887, or over $114,887, you’ll receive a reduced amount of $969 for your first child, $937 for your second child and $906 for each additional child.

For families making over $114,887, “amounts are reduced by 4 per cent of the portion of adjusted family net income over $114,887 until they are reduced to zero,” B.C. says.

The bonus amount will no longer be in effect after June 2025, and payment totals will return to the usual levels for July 2025.

B.C. has a tool to help you calculate your family’s net income.

With files from Nikitha Martins