The B.C. Family Benefit is a financial aid program designed to provide tax-free monthly payments to families in British Columbia who have children under the age of 18.
Managed by the Canada Revenue Agency (CRA), the benefit aims to alleviate the financial challenges faced by families, offering vital support to help cover the costs of raising children.
The program began in July 2024 and runs through June 2025.
As part of the 2024 budget enhancements, it includes a bonus payment of approximately $445.
This initiative is part of a broader strategy to provide more substantial support to families amidst rising living costs.
Eligibility for the B.C. Family Benefit Bonus
To qualify for the B.C. Family Benefit Bonus, families must meet the following key criteria during the benefit period from July 2024 to June 2025:
Filing Tax Returns
Families must file a T1 Income Tax and Benefit Return for the year.
This step is crucial, as the CRA uses this information to determine eligibility and calculate the benefit amount.
Registration for the Canada Child Benefit
Families whose children are registered for the Canada Child Benefit (CCB) are automatically considered for the B.C. Family Benefit, including the bonus.
If a child is not registered, families must first apply for the CCB to qualify.
Residency in British Columbia
Only residents of British Columbia are eligible for this benefit.
Families who move to B.C. should update their residency status with the CRA to be considered.
Similarly, those leaving B.C. must notify the CRA to adjust their benefit eligibility accordingly.
Income Level
The amount of the bonus, along with the regular B.C. Family Benefit, is based on the family’s adjusted net income.
The maximum benefit is available to families whose income for the 2023 tax year is below a specific threshold, with the benefit amount gradually decreasing as income rises.
The benefit phases out completely at higher income levels.
New Recipients
Approximately 66,000 families who have not previously received the B.C. Family Benefit will qualify for the bonus this year upon filing their taxes.
This offers an incentive for families to file their tax returns and ensure their eligibility.
Benefit Amounts and Explanation of the Bonus
The B.C. Family Benefit provides essential financial support based on a family’s income and the number of children under 18 in their care.
Below is a breakdown of the regular benefit amounts:
Regular Benefit Amounts
- Income less than $35,902:
- First Child: $2,188/year
- Second Child: $1,375/year
- Additional Children: $1,125/year
- Income between $35,902 and $114,887:
- First Child: $969/year
- Second Child: $937/year
- Additional Children: $906/year
- Income over $114,887:
The benefit decreases progressively based on the family’s income, with a 4% reduction for every dollar above $114,887. - The benefit will phase out completely as income rises.
These amounts are provided annually and are designed to support families with low to middle incomes.
Low-Income Single Parent Supplement
Single parents with low incomes are eligible for an additional $500 annually as a supplement.
This extra financial support is intended to assist single-parent households facing unique financial challenges.
Bonus Payment
In addition to the regular benefit, eligible families will receive a bonus payment of approximately $445 on average. This bonus will be distributed monthly from July 2024 through June 2025.
It is intended to provide extra relief to families, helping them manage the rising costs of living, including expenses like groceries and children’s clothing.
This enhancement is part of a broader effort to ensure that families in British Columbia can manage daily expenses with greater ease during a time of economic strain.
