B.C. says to expect more cost-of-living help

If you have a direct deposit set up with the Canada Revenue Agency, you may see some extra money in your bank account, and the provincial government says you can expect more help in the future.

B.C.’s one-time Affordability Credit is being rolled out as Victoria provides as much as $164 per adult and $41 per child to 85 per cent of people living in B.C.

“Certainly, we understand that British Columbians are facing cost pressures today, rising costs that are affecting their ability to do things like buy groceries and make rent and so on. So, we’ve certainly taken the approach that British Columbians need support immediately,” Premier David Eby said.

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“You can expect we will continue to take this approach to affordability in the province. Every opportunity we see to support British Columbians, we will do so because we know families, seniors, and individuals are feeling the strain in our province right now.”

While he hasn’t been on the job very long, Eby says a big focus for his government is to help people deal with the cost-of-living pressures.

“In the first 50 days of my new role, we have done things like the BC Hydro credit. A $100 credit for people on their hydro bills. We’ve done support around the Affordability Credit, making sure low and middle-income British Columbians have support with the cost of everyday life. We have frozen car insurance rates for two years. For parents with kids in childcare, they are seeing literally thousands of dollars, in some cases, in their pocket every month that they used to have to spend on childcare,” adds Eby.

In addition to the affordability credit, the province is also giving families the first of three payments as part of the B.C. Family Benefit beginning Jan. 20.

“The January, February, and March payments will include as much as an additional $58.33 per child, for each month. A family with two children will receive as much as $350 from this top-up,” the province says in a statement.

If you don’t have direct deposit in place with the CRA, you should have your money within about 10 days.

The Affordability Credit is being distributed as an add-on to the Climate Action Tax Credit, which is a quarterly payment handed out to offset B.C.’s carbon tax.