The B.C. Family Benefit is a financial aid program designed to support families in British Columbia by providing a tax-free monthly payment to those with children under the age of 18.
This program, managed by the Canada Revenue Agency (CRA), aims to alleviate the economic pressures faced by families by supplementing their income and helping cover the costs associated with raising children.
Started in July 2024 and extending through June 2025, the B.C. Family Benefit will include a bonus payment of approximately $445 as part of the enhancements introduced in the 2024 budget.
This initiative is part of a broader effort to ensure that more families receive substantial support to manage everyday expenses.
Who will get the BC Family Benefit Bonus?
The eligibility for the B.C. Family Benefit Bonus is primarily tied to a family’s participation in the B.C. Family Benefit during the bonus period from July 2024 through June 2025.
Here are the key eligibility criteria:
- Filing Tax Returns: Families must file a T1 Income Tax and Benefit Return for the year. This is essential as the Canada Revenue Agency (CRA) uses this data to determine eligibility and calculate the benefit amounts
- Registration for 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 your child is not registered for the CCB, you must apply for it first
- Residency: The benefit is available to residents of British Columbia. If you move to B.C., your eligibility will be assessed once you update your residency status with the CRA. Similarly, if you move out of B.C., you should inform the CRA to adjust your benefit status accordingly
- Income Level: The amount of the bonus, as well as the regular B.C. Family Benefit, varies based on the family’s adjusted net income. For the maximum benefit, your family’s income for the 2023 tax year must be below a certain threshold, with a gradual reduction in the benefit as income increases, phasing out completely at higher income levels
- New Recipients: Approximately 66,000 families who have not previously received the B.C. Family Benefit will automatically receive the bonus this year upon filing their income taxes, making this an additional incentive for eligible families to ensure their tax filings are up-to-date
By meeting these criteria, families can access the B.C. Family Benefit Bonus, helping to mitigate the financial challenges posed by the current economic climate
Benefit Amounts and Bonus Explanation
The B.C. Family Benefit provides financial support to eligible families based on their income level and the number of children under the age of 18 in their care.
Here’s a detailed breakdown:
Regular Benefit Amounts
| Family Income Range | First Child | Second Child | Additional Children |
|---|---|---|---|
| Less than $35,902 | $2,188/year | $1,375/year | $1,125/year |
| Between $35,902 and $114,887 | $969/year | $937/year | $906/year |
| More than $114,887 | Reduced amounts phased out with increased income |
The benefits for families earning over $114,887 decrease progressively.
The specific reduction rate is 4% of the portion of adjusted family net income that exceeds $114,887 until the benefit amount reaches zero.
These benefits are designed to provide financial assistance primarily to low- and middle-income families.
The amounts mentioned are annual and reflect the total possible amount receivable over a year per child
Low-Income Single Parent Supplement: Low-income single parents are eligible for an additional $500 annually.
This supplement is designed to assist further single-parent households facing unique financial challenges.
Bonus Payment
In response to rising living costs, each eligible family receives an additional bonus of approximately $445 on average.
This bonus is distributed monthly from July 2024 through June 2025.
This bonus offers extra support during times of economic hardship, particularly inflation, helping families manage expenses such as groceries and children’s clothing.
