The B.C. Government recently introduced legislation to provide funding in the form of a tax-free B.C. Recovery Benefit. This is a tax-free one-time direct deposit payment for eligible families, single parents, or individuals to help cope with the added stress of the pandemic this year. This one-time payment does not relate to whether or not an individual lost their job directly due to the COVID-19 pandemic.
Generally, the benefit is available to people:
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- Residing in British Columbia on December 18, 2020
- Who are at least 19 years old on December 18, 2020, or meet specific eligibility criteria
- Who filed a 2019 Canadian personal income tax return, or meet specific eligibility criteria
- Who have a valid social insurance number, individual tax number or temporary tax number
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This benefit is based on 2019 income levels; therefore individuals who had higher incomes within 2019 will not qualify. Details on income thresholds are provided in the link below.
British Columbians receiving income and/or disability assistance will also be eligible for extra cash under the B.C. Recovery Benefit. However, the people who depend on these forms of assistance will see their COVID-related benefits slashed in half, from the current $300 a month to $150 per month from January to March 2021.
British Columbians have until June 30, 2021, to apply for the benefit.
Complete Information on the BC Recovery Benefit can be found here.
