{"id":3980,"date":"2020-12-18T08:00:00","date_gmt":"2020-12-18T15:00:00","guid":{"rendered":"https:\/\/ltwealth.ca\/?p=3980"},"modified":"2023-12-04T19:31:03","modified_gmt":"2023-12-04T19:31:03","slug":"bc-recovery-benefit","status":"publish","type":"post","link":"https:\/\/ltwealth.ca\/bc-recovery-benefit\/","title":{"rendered":"BC Recovery Benefit"},"content":{"rendered":"

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The Government of British Columbia has announced a one-time, tax-free payment for eligible families, single parents, and individuals residing in British Columbia.<\/p>\r\n\r\n\r\n\r\n

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.

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Who is eligible for the BC Recovery Benefit:<\/h3>\r\n\r\n\r\n\r\n
\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Eligibility Group<\/th>\r\n2019 Net Income<\/th>\r\nEligible Amount<\/th>\r\n<\/tr>\r\n<\/thead>\r\n
Eligible families & single parents<\/td>\r\nUp to $125,000<\/td>\r\n$1,000<\/td>\r\n<\/tr>\r\n
Eligible families & single parents<\/td>\r\nUp to $175,000<\/td>\r\nReduced benefit amount<\/td>\r\n<\/tr>\r\n
Eligible individuals<\/td>\r\nUp to $62,500<\/td>\r\n$500<\/td>\r\n<\/tr>\r\n
Eligible individuals<\/td>\r\nUp to $87,500<\/td>\r\nReduced benefit amount<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n

\u00a0The benefit is available to people who meet the following general eligibility criteria:<\/p>\r\n\r\n\r\n\r\n