BC Family Benefit payments going out to eligible residents
Posted January 20, 2023 9:57 am.
Do you have kids under the age of 18 and live in B.C.? You may see some new money hitting your bank account in the days and weeks ahead.
The first of three “enhanced BC Family Benefit payments” are going out as of Jan. 20. The funds are earmarked for families “with moderate and low incomes.”
The province says more payments will be coming in the first three months of the year, adding the benefit will “provide as much as an additional $350 from January to March for a family with two children.”
To be eligible for the maximum amount, your adjusted family net income for the 2021 taxation period must be $25,806 or less.
A parent or guardian with shared custody of a child or children will receive half the amount they would have received for the child if they had full custody.
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It’s estimated 75 per cent of B.C. families will get the benefit. The B.C. government adds about 84 per cent of those families will get “at least an additional $50 per month, per child.”
“With the rising cost of living due to global inflation and the day-to-day expenses that come with raising children, we know times are stressful,” said Minister of Finance Katrine Conroy, who adds the province hopes the extra cash will “take a bit of pressure off the family budget.”
In addition to being based on income and the number of children a family has, the province notes eligibility is determined when a person registers for the Canada Child Benefit, which typically happens through an income tax return.
BC Family Benefit payments will mostly be deposited to an eligible British Columbian’s bank account from the Canada Revenue Agency, along with the federal credit.
You can calculate your benefit amount on the B.C. government website here.
