No tricks here: British Columbians will be getting some free cash in October

To relieve stress to British Columbians, the province has increased the BC Climate Action Tax Credit and the second quarterly payment is headed for millions next week.

The first payment was sent to British Columbians in July to help amid the carbon tax hike.

A release shared in July from the BC government suggests that a single person can receive as much as $447 per year, an increase of more than $250 compared to 2022, or more than double what they received last year. More than two million individuals and families qualify and will see the second quarterly payment this week.

If you’re part of a family of four, you can now receive as much as $893.50, $390 more than last year.

If you have a net income below $61,465, you will receive full or partial credit. You will also receive full or partial credit if you’re a single parent with two kids with a net income below $89,270.

“The increased thresholds mean more people will be eligible for the money this year. An estimated 70% of individuals eligible can expect the maximum amounts,” a BC Ministry of Finance statement read.

If you’re eligible and have an annual credit amount of more than $40, the following payments you’ll receive will be in January and April.

“Each payment is combined with the federal goods and services tax/harmonized sales tax (GST/HST) credit into one payment,” the province explained. “Generally, payments are made on the fifth day of the month.”

By 2030, the province said it’s projected that most people in BC will receive more from the enhanced credit than they pay in increased carbon tax costs.

The carbon tax increased by about three more cents per litre of gasoline.

With files from Amir Ali