Government benefits to assist most BC residents in January

The majority of BC families will see a little extra money in their bank accounts to begin 2025.

To kick off the new year will be the quarterly climate action tax credit with payments expected to arrive in bank accounts on or around Friday, Jan. 3, 2025.

Roughly 65 per cent of families and individuals in B.C. receive money through this credit. The average annual credit is an estimated $440 for individuals with no dependent children, $680 for single-parent families and $613 for multi-parent families.

Later in January, over 340,000 families with lower or middle incomes will receive their BC Family Benefit payment, now with a temporary cost-of-living bonus.

The 25 per cent spike means an average of $445 more a year for families. A family of four can receive as much as $3,563 a year, while a single parent with one child can receive as much as $2,688 per year. The family benefit is deposited in bank accounts around the 20th of each month.

“I know the high cost of living can cause pressure for so many people during the holiday season,” said Brenda Bailey, Minister of Finance.

“While high prices persist across the country and around the world, we are working hard to help offset costs for people in B.C. with tax credits that put more money into people’s pockets when they need it most.”


Be the first to know! Don’t miss out on breaking news and daily updates in your area. Sign up to MyKootenayNow News Alerts.

Continue Reading

cjat Now playing play

ckqr Now playing play

- Advertisement -

Related Articles

- Advertisement -

Latest News

Zoey – a dog with a mix of everything!

This weeks Summit Radio Pet of the Week from the BCSPCA is Zoey!

B.C. boosts funding to expand RCMP hate crime unit

British Columbia is significantly expanding the RCMP’s provincial hate crimes unit.

This year’s West Kootenay-Boundary Move to Cure ALS Walk raises over $20k

West Kootenay-Boundary Move to Cure ALS is walking the talk, all the way to $20,176.

Does the Kootenay-Boundary Regional Hospital need a second access?

The West Kootenay-Boundary Regional Hospital District Board has raised the long-standing issue of the need for a second access to Kootenay-Boundary Regional Hospital in Trail.

Pape signs with Smoke Eaters

The Trail Smoke Eaters have signed another German defenseman.
- Advertisement -