More money is coming into the bank accounts of provincial residents and families this week, thanks to the enhanced climate action tax credit.
“High interest rates and global inflation are squeezing household budgets, and we’re determined to find ways to put more money into people’s bank accounts,” said Katrine Conroy, Minister of Finance. “By expanding and significantly increasing the climate action tax credit, we’re taking on carbon pollution, while helping to reduce costs for people in communities across B.C.”
As part of this year’s provincial budget, the Province raised income thresholds and increased the climate action tax credit.
Enhancements mean a single person can now receive up to $447 per year, an increase of $250 from 2022. A family of four can now receive as much as $893.50, $390 more than last year.
The climate action tax credit was created to help offset costs for people and families with low and middle incomes.
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