One-time B.C. family benefit boost to hit accounts in July

The B.C. government says a previously announced boost to its Family Benefit payment will hit bank accounts beginning next month.

The province explains families across B.C. will receive on average an extra $445 more than last year with the one-time bonus.

“With global inflation and high interest rates driving up daily costs, we know families are being hit hard right now,” said Premier David Eby. We’re increasing support to low- and middle-income British Columbians through an expanded BC Family Benefit. Getting a little extra money to families for the basics is one of the ways we’re helping people who are feeling squeezed right now.”

The measure, announced back in February during the 2024 Budget, will mean about 340,000 families in the province will receive 25 per cent more in financial help than before.

The B.C. Family Benefit and the Canada Child Benefit are combined into one payment, the province explains. Seventy per cent of families in B.C. will receive the benefit this year — 66,000 more than 2023.

The province says families with a net income below $35,902 can receive $2,188 for their first child — up from $1,750 in previous years — $1,375 for the second, and $1,125 for each additional child.

Families with a net income below $114,887 will be guaranteed the a minimum of $969 for the first child, $937 for the second, and $906 for each additional child. Those values have each increased by roughly $200 from previous years.

Families who make less than $139,000 with one child, and families who make less than $162,000 with two children will receive a partial benefit.

“The 25% increase through the bonus means a family of four could potentially receive as much as $3,563 annually, while a single parent with one child could receive as much as $2,688,” the province said in a statement Monday.

“We know people are feeling the effects of high prices and stretched budgets,” said Katrine Conroy, Minister of Finance. “That’s why we’re increasing this year’s BC Family Benefit payments to help lighten the burden. I encourage people to file their taxes to ensure they’re receiving the supports they’re eligible for.”

—With files from Charles Brockman.