BC Climate Action Tax Credit – Amount, Eligibility, How to claim?

The British Columbia Climate Action Tax Credit (BCCATC) is a helpful program that puts money back in the pockets of eligible residents to offset the rising costs associated with the provincial carbon tax. This tax credit is designed to support low- and middle-income earners.

Eligibility Criteria

To be eligible for the BC Climate Action Tax Credit, applicants must meet the following criteria:

  • Residency: Must be a resident of British Columbia for the tax year.
  • Age: Must be 19 years of age or older, or have a spouse or common-law partner, or be a parent of a child.

Additional Conditions

  • Applicants must be eligible for the federal GST/HST credit.
  • Not incarcerated in a prison or similar institution for a period exceeding 90 consecutive days during the tax year.

Amount of BC Climate Action Tax Credit

BC Climate Action Tax Credit

The amount of the BC Climate Action Tax Credit varies depending on your family situation. Below is a table that outlines the credit amounts for the 2024 fiscal year:

The BCCATC is paid out quarterly, and the maximum amounts have increased for the 2024-2025 benefit year (July 2024 to June 2025). Here’s a breakdown of the maximum annual amounts:

RecipientMaximum Annual Amount
Individual$504
Spouse or Common-Law Partner$252
Child (except first child in single parent family)$126
First Child in Single Parent Family$252
  • Maximum annual credit for individual: $504
  • Maximum annual credit for spouse/common-law partner: $252
  • Maximum annual credit per child (except first child in single-parent family): $126
  • Maximum annual credit for first child in single-parent family: $252

How to Claim the BC Climate Action Tax Credit

Claiming the BC Climate Action Tax Credit involves several straightforward steps:

  1. File Your Taxes: Ensure you file an annual tax return. The Canada Revenue Agency (CRA) uses the information from your tax return to determine your eligibility for the credit.
  2. Update Personal Information: Keep your personal information, including address and family status, up to date with the CRA.
  3. Receive Payments: If eligible, you will receive the Climate Action Tax Credit combined with the federal GST/HST credit in quarterly payments. These payments are issued in July, October, January, and April.

Payment Schedule

  • July 2023: First quarterly payment of the fiscal year.
  • October 2023: Second quarterly payment.
  • January 2024: Third quarterly payment.
  • April 2024: Fourth quarterly payment.

Conclusion

The BC Climate Action Tax Credit is an essential initiative for promoting environmental sustainability and providing financial relief to families impacted by carbon taxes. By understanding the amount, eligibility, and claim process, BC residents can better browse the system and ensure they receive the financial support they are entitled to.

Make sure to file your taxes annually and keep your information up-to-date to take full advantage of this benefit.

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