Climate action tax credit funds on the way for two million BC residents

A little more cash will line the pockets of BC residents this week as the climate action tax credit is set to be rolled out again.

Individuals will now be able to collect $504 a year starting in July, up from the previous $447 threshold.

In addition, a family of four is in line for a top-up to $1,008 per year, a spike from $890, which will also kick in during the same month.

“Across the province, people are seeing devastating wildfires and severe drought, and this coming summer could be the worst ever. Putting a price on pollution is about fighting climate change, and to ensure it’s fair, we are providing support to most middle- and low-income families through the climate action tax credit,” said Katrine Conroy, Minister of Finance.

“We will keep taking action to help with cost-of-living pressures by delivering middle-income housing, reducing child care and ICBC costs, and boosting tax credit and benefits.”

Approximately 65% of people in B.C. receive money back through the tax credit.

It will increase annually with the goal of 80% of individuals and families receiving the credit by 2030.

“People want us to fight pollution and they need us to help with costs. So, we’re taking action on both,” said George Heyman, Minister of Environment and Climate Change Strategy.

“For over a decade and a half, a price on pollution has been a central and effective part of our efforts to tackle climate change. We are using it to fight pollution, support people through climate emergencies and put money back in the pockets of lower- and middle-income people.”