BC government to increase Family Benefit by 25% this year

Following the structural increases to the BC Family Benefit in previous years, eligible families with children under the age of 18 across the province will receive a one-year bump — a “bonus” — in financial support.

BC Minister of Finance Katrine Conroy announced today families currently receiving the BC Family Benefit will see a 25% increase per child in monthly payments over a 12-month period from July 2024 to June 2025.

Eligible families will receive about $445 more on average over the 12-month period, with a family of four receiving about $1,760 more on average, and a single-parent family estimated to receive a total of $2,790.

How many families will benefit?

This one-time bonus will support 340,000 low- and middle-income families who already receive the benefit.

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It is also estimated that up to 66,000 families who have never received the benefit will also receive the regular benefit and the bonus.

“Parents can use the money to help with anything from groceries to registering their child for hockey or figure skating,” said Conroy during her budget speech today.

“With these targeted measures, Budget 2024 will help keep your bills down and more money in your pocket at the end of each month.”

To provide the bonus, the 2024 provincial budget sets aside a total of $248 million for the initiative.

The bonus is being provided to help account for worsening housing affordability and living costs.

In addition to the temporary expansion of the BC Family Benefit, the provincial government is also providing a one-time BC Electricity Affordability Credit this year, and increasing the quarterly Climate Action Tax Credit payments to families and individuals.

There is also support in the budget for families looking to have kids, but are experiencing challenges, as the provincial government is launching a new free in-vitro fertilization (IVF) treatment program starting in 2025.