This BC Benefit Is Rolling Out Right Now & You Could Receive Up To $350
75% of B.C. families will receive it.
The Parliament Buildings in Victoria, B.C. Right: Canadian money.
The cost of living in B.C. is a pain point for many residents, but families in the province will soon be receiving a helping hand via the BC Family Benefit (formerly known as the Child Opportunity Benefit).
The benefit comes in three installments as a direct deposit by the Canada Revenue Agency, and the B.C. government said that eligible families with two kids can expect to get up to a $350 boost to their bank account.
The first payment went out on January 20, and two more should appear in eligible residents' bank accounts within the next couple of months.
Eligibility is based on income and the number of children people have. Most families with multiple children can expect to receive at least an extra $50 per month, per child.
Your eligibility would have been automatically determined if and when you registered for the Canada Child Benefit. The provincial website notes that registration is done through your income tax return.
"With the rising cost of living due to global inflation and the day-to-day expenses that come with raising children, we know times are stressful,” said Katrine Conroy, Minister of Finance. “We're here to help the parents who need it most with a little extra money to hopefully help take a bit of pressure off the family budget.”
She went on to say that the province is dedicated to cutting down costs "wherever possible."
The government has provided around $2 billion in financial support through the BC Affordability Credit, BC Family Benefit, a BC Hydro rebate, caps on rent increases and more, since last fall.
Even though grocery hauls don't quite hit like they used to, at least there are still little things to look forward to, like a little extra money in your bank account.