Here are some things you can buy with the $400 BC renter's tax credit

Some renters in Metro Vancouver are eager to get their hands on some money, and they will in the coming months with next year’s $400 tax credit.

The provincial government’s newly created Renters’ Tax Credit will soon be implemented, and it’s expected to benefit approximately 80% of renter households in BC in Spring 2024.

The household income brackets are as follows:

Renters with household incomes:

• $60,000 or less = $400 credit.
• $60,000 to $80,000= less than $400

Individuals living with roommates can apply individually, while couples must input their combined income and are only eligible for one $400 rebate.

This got us thinking about whether $400 would make a considerable difference in each household and what we could purchase with that sweet new tax credit money.

Here are some things we rounded up that you can buy with the $400 tax credit in Metro Vancouver.

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Buy two out of four winter tires

Winter tires/Mr. Lube

This may be new to some Vancouverites, but hear us out. With the 400$, you could invest in some winter tires to avoid accidents within the city this winter.

Although the average cost of a set of new winter tires is around $100-$200 per tire, according to canadadriver.ca, you will already be halfway there.

You may not need them in the springtime, but that’s more time to save up for the other half.

One day of skiing in Whistler

EB Adventure Photography/Shutterstock

Despite Whistler ski tickets increasing significantly in price for the 2023-24 season, there is still hope for you to enjoy a day on the hill with some conditions.

The Epic Rides shuttle bus that takes you straight from Burrard Street in Vancouver to Whistler Village will cost you $44 plus tax for a round trip.

Excluding rentals, you can purchase a ski lift ticket after December 3 for $215 plus tax.

That still leaves you with around $100 to spend on other mountain essentials like drinks and food.

Buy 225 avocados

Brent Hofacker/Shutterstock

Who doesn’t love a good old avocado toast more than millennials and Gen Z? Ahem.

According to our calculations, the price of an avocado at Walmart is $1.67, and just so you wouldn’t go over budget, we included the tax.

You could buy up to 225 avocados with the $400 tax credit.

Think about the endless amount of guacamole you could make and sell to afford rent.

Ride the Sea to Sky gondola five times

Tara O’Grady/Sea to Sky Gondola

The Sea to Sky Gondola is an epic staple with some of the most breathtaking views in the area.

Since those views rarely get old, why not spend your $400 taking in those views over and over again?

The price of a round-trip day ticket is $66 plus tax. If you pick your days in advance, you can ride the gondola five times with the $400 tax credit.

Pay 14% of your rent

Andrey_Popov/Shutterstock

The average cost of a one-bedroom in Vancouver in November 2023 is $2700, according to zumper.ca. If the rental prices remain the same until Spring 2024, you can put that $400 toward your rent. There’s 14% you won’t have to worry about for a month.

Critics say that while many are set to be $400 richer, others argue the tax credit falls short of effectively tackling the issue of rent insecurity in Canada.

What do you think about the upcoming spring tax credit? Is it enough money for you?

Let us know in the comments.