Too rich for rebates? These are the income cutoffs for benefits in BC | Daily Hive

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It’s raining rebates in BC these days, but why are you not receiving them? There’s a good chance it’s because you are making too much money.

While you might be familiar with the minimum income limits to be eligible for cash benefits from the government, have you wondered what the upper limit is?

In BC, the government administers two major cash benefits: the BC Family Benefit and the BC climate action tax credit.

Your annual net income, marital status, and number of kids determine the amount of benefits you are eligible for — or if you are not eligible at all.

Net income, for individuals, is the income you receive in your bank account after taxes and deductions on the amount on your paycheque.

We found out from the BC Ministry of Finance what the maximum net income thresholds are for you to still be eligible to benefit from these programs.

BC Family Benefit

The BC Family Benefit is a tax-free monthly child-support benefit that families can avail for children under the age of 18. Those with children, married, single, or common-law, are eligible for this benefit.

According to the ministry, over 285,000 BC families currently receive the BC Family Benefit.

If your adjusted family net income is less than $27,354, you will receive the maximum annual benefit of this program between July 2023 and June 2024.

$1,750 for the first child
$1,100 for the second child
$900 for each additional child

If it is between $27,354 and $87,533, you will receive at least:

$775 for the first child
$750 for the second child
$725 for each additional child

However, if your adjusted family net income is above $87,533, you will receive a reduced amount up to an annual maximum of:

$775 for the first child
$750 for the second child
$725 for each additional child

The maximum net income threshold

But what’s the maximum net income threshold to still be eligible for this benefit? Here is a list:

Families (single or couple) who earn up to $106,908 with one child
Families (single or couple) who earn up to $125,658 with two children
Families (single or couple) who earn up to $143,783 with three children

While you may be able to receive some amount of the benefit if you earn less than these figures, the BC Ministry of Finance does not guarantee the minimum amount of the benefit for those earning above $87,533. The BC Family Benefit is sent out monthly as a tax-free payment.

You can find out if you are eligible online. You can also calculate the amount you are entitled to according to your family’s net income on the BC government website.

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BC Climate Action Tax Credit

This program by the BC government is paid with the goods and services tax or harmonized sales tax (GST/HST) credit. It is usually paid to low-income individuals and families to help offset their carbon tax payments.

Currently, more than two million individuals and families receive the quarterly BC Climate Action Tax Credit, the spokesperson told Daily Hive.

If you have children, you may be eligible for a double benefit.

“Any family in BC with children that receives the Climate Action Tax Credit will also receive the BC Family Benefit,” the spokesperson said.

If you earn less than $39,115 as an individual or $50,170 as a family as of the 2022 tax year, you may receive the maximum amount from this benefit. However, the amount differs according to your situation.

Individual: $447
Married or common-law partner: $223.50 and $111.50 for each child
Single parent: $223.50 for the first child and $111.50 for each additional child

The maximum net income threshold

Here is a list from the BC Ministry of Finance on the maximum net income levels eligible before the benefit hits zero. This benefit, too, depends on your family status:

Single Person who earns up to $61,465
Single parent with one child who earns up to $83,695
Single parent with two children who earns up to $89,270
Single parent with three children who earns up to $94,845
Married/common-law couple with no children who earns up to $83,695
Married/common-law couple with one child who earns up to $89,270
Married/common-law couple with two children who earns up to $94,845
Married/common-law couple with three children who earns up to $100,420

Similar to the BC Family Benefit, the ministry does not guarantee a minimum benefit amount for those earning $39,115 (as an individual) or $50,170 (as a family). The BC Climate Action Tax Credit is paid out quarterly.