Families and residents in B.C. will soon receive payments to help with the cost-of-living crisis.
Two payments are scheduled for January for the majority of B.C. residents through benefits and tax credits.
Minister of Finance Brenda Bailey said the government is aware of the stress the high cost of living can cause.
“While high prices persist across the country and around the world, we are working hard to help offset costs for people in B.C. with tax credits that put more money into people’s pockets when they need it most.”
People should check their bank accounts on Friday, January 3, 2025, for the quarterly climate action tax credit, which approximately 65 per cent of people in B.C. should receive.
Individuals with no children are expected to receive $440, single parent families should receive $680, and multi-parent families will receive $613.
Lower- and middle-income families then can look for their BC Family Benefit payment later into January, which will feature a temporary cost-of-living bonus.
The 25 per cent increase can see as much $3,563 a year for a family of four, around $445 more a year.
Single parents with one child can receive around $2,688 per year, and the payment is expected to be deposited around the 20th of each month.
The province is also looking to increase minimum wages, lower car-insurance costs, and reduce childcare fees to help the cost-of-living crisis among other things.
