The Government of British Columbia has announced a one-time, tax-free payment for eligible families, single parents, and individuals residing in British Columbia.
The BC Recovery Benefit is a direct deposit payment of up to $1,000 for eligible families and single parents and up to $500 for eligible individuals. The benefit amount that you will be eligible for will be automatically calculated based on your 2019 net income if you apply.
Who is eligible for the BC Recovery Benefit:
| Eligibility Group | 2019 Net Income | Eligible Amount |
|---|---|---|
| Eligible families & single parents | Up to $125,000 | $1,000 |
| Eligible families & single parents | Up to $175,000 | Reduced benefit amount |
| Eligible individuals | Up to $62,500 | $500 |
| Eligible individuals | Up to $87,500 | Reduced benefit amount |
The benefit is available to people who meet the following general eligibility criteria:
- Residing in British Columbia on December 18, 2020
- At least 19 years old on December 18, 2020, or meet specific eligibility criteria
- Filed a 2019 Canadian personal income tax return, or meet specific eligibility criteria
- Have a valid SIN, individual tax number, or temporary tax number
What do you need to apply for the BC Recovery Benefit?
To apply for the BC Recovery Benefit, you will need the following:
- 2019 net income – This amount can be found on Line 23600 of your 2019 income tax return.
- SIN, individual tax number, or temporary tax number
- Driver’s licence number if you have a BC driver’s licence
- Direct deposit information
Online applications open December 18, 2020 and the deadline to apply is June 30, 2021. Support is available by phone (1-833-882-0020) starting December 21, 2020.
For the specific eligibility criteria and more information on the BC Recovery Benefit, please visit the BC Government Website.
Written by: Patrick Caffrey, CPA, CA.
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