In late 2020, the BC Government approved a one-time, tax-free payment for eligible BC residents. The payment is calculated as follows:
Families and Single Parents
If your household income in 2019 was under $125,000, the benefit is calculated at $1,000 for the family or single parent.
If your household income in 2019 was between $125,000 and $175,000 in 2019, the benefit is reduced. Income over $175,000 disqualifies a family or single parent from the benefit.
If your income in 2019 was under $62,500, the benefit is calculated at $500.
If your income in 2019 was between $62,500 and $87,500 in 2019, the benefit is reduced. Income over $87,500 disqualifies you from the benefit.
Further to the above, to be eligible for some, or all, of this benefit, you must meet the following criteria:
- You, or you and your spouse (if married or common law), must have been a resident of BC on December 18, 2020; and
- Your income thresholds noted above are based on the net income(s) on line 23600 of your 2019 tax return must be below:
If you are eligible, you will need the following information to apply for the benefit:
- 2019 net income from line 23600 of your 2019 tax return;
- Social insurance number;
- Driver’s licence number (if you have one);
- Mailing address; and
- Bank information for direct deposit including:
a. Branch transit number;
b. Institution number; and
c. Account number.
Please let us know if you would like help compiling this information and completing your application.
For more information on the benefit or to apply, click on the link below: