Tax-Credit Lift Provides More Money For B.C. Residents

More than two million British Columbians will be seeing the first quarterly payment of the newly expanded and enhanced climate action tax credit in their bank accounts this week.

“As global inflation continues to impact the costs of everyday life, we’re making sure more people will receive more money to help with their bills,” said Katrine Conroy, Minister of Finance.

“B.C.’s price on carbon pollution continues to be one of the strongest and most comprehensive in Canada. Boosting the climate action tax credit is just one of the ways we are putting money in people’s pockets as we work toward a low-carbon future.”

As part of Budget 2023, the Province raised income thresholds and increased the climate action tax credit to ensure B.C.’s clean transition remains affordable for more people.

A single person can now receive as much as $447 per year, an increase of more than $250 from 2022, or more than double what they received last year.

A family of four can now receive as much as $893.50, which is $390 more than last year.

The province says B.C. is one of the few provinces with its own pollution-pricing system, the carbon tax.

It says most of the revenue from the Budget 2023 carbon tax increase is going back to people through the climate action tax credit.

For more information, visit Government of British Columbia.