In response to the cost of living crisis facing many British Columbians, the province says it will begin sending out the latest affordability credit beginning on Wednesday (April 5).
Roughly 85 per cent of British Columbians will be eligible to receive the third installment of the B.C. Affordability Credit payment as a direct-deposit into their bank accounts. Amounts are dependent on income and family size — individuals can receive up to $164 and $41 per child, while a family of four could get $410.
Premier David Eby said that the government is committed to supporting residents through these difficult times.
Finance Minister Katrine Conroy emphasized the province’s focus on supporting those in need as prices remain high and people’s dollars are stretched thin. This instalment follows previous payments in October 2022 and January 2023.
So far, the credit has totalled $1.5 billion in costs.
Other Budget 2023 earmarks include increased Climate Action Tax Credits for low to moderate income earners, free prescription contraception, a permanent 10-per-cent increase to the BC Family Benefit, additional funding for school food programs, support for income and disability assistance recipients and a new renter’s tax credit of up to $400 starting in 2024.
The province urges residents who have not filed their tax returns to do so or risk not being able to receive certain credits.