Boosted B.C. climate action tax credit on the way to eligible bank accounts this week

The first quarterly payments from the NDP government’s expanded climate action tax credit are on their way to eligible British Columbians this week.

As part of the 2023 budget, the Ministry of Finance bumped up the threshold for who could receive the tax credit, meaning more than two million people and families are now getting the credit. The payments are also significantly higher, with an individual getting more than double what they received last year.

A single person can get as much as $447 a year, up from $250 in 2022. A family of four can receive up to $893.50, up from $390 last year.

The threshold for eligibility is also higher: Any individual with a net income under $61,465 will get a full or partial credit. The income cap for a single parent with two kids is now $89,270.

According to the ministry, the increased threshold means more people will get at least a partial credit, and 70 per cent of those who are eligible will get the maximum amount.