Categories: Lifestyle

BC families will soon receive an enhanced benefit payment & here’s how much

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If you need relief on child-related expenses, some help is on the way. The BC Family Benefit (previously called the BC Child Opportunity Benefit) is a tax-free monthly payment made to families with children under 18, and the provincial Budget 2023 includes a “permanent lift” to the benefit.

Families can expect to see the next BC Family Benefit payment deposited on May 19th, combined with the federal Canada Child Benefit (CCB) into a single payment.

Payments per year

“Now, parents will receive up to $1,750 for the first child, $1,100 for the second, and $900 for the third,” said Katrine Conroy, Minister of Finance. “For a family with two children, the extra $250 per year can help buy healthy food, pay bills, and help pay for extracurricular activities.”

And on top of the 10% annual increase, single parents will get as much as an extra $500 per year.

Note that these changes (proposed in Budget 2023) will come into effect in July 2023.

Payments per month (May and June)

Here are the regular monthly benefits for an adjusted net income of $25,806 or less:

$133.33 per month for the first child
$83.33 per month for the second child
$66.67 per month for each additional child

If your net income is between $25,806 and $82,578, you’ll receive a minimum of:

$58.33 per month for the first child
$56.67 per month for the second child
$55 per month for each additional child

For those with an adjusted net income of $82,578 or more, the maximum benefit amount you’ll receive is as above.

Payments per month (Starting July)

Budget 2023 will permanently increase the BC Family Benefit amounts to a maximum of:

$145.83 per month for the first child
$91.67 per month for the second child
$75 per month for each additional child

If your adjusted family net income is between $27,354 and $87,533, you’ll receive a minimum of:

$64.58 per month for the first child
$62.50 per month for the second child
$60.41 per month for each additional child

The CRA will automatically deposit the funds into your account each month, as long as you are signed up for the federal Canada Child Benefit (CCB). Note that the BC Family Benefit is combined with the CCB into a single monthly payment, and may take up to 10 days to be deposited.

So that’s the benefit in a nutshell, BC!