The provincial government has announced that residents will be able to apply for the B.C. Recovery Benefit – a one-time tax-free payment – as early as this month.
During a press conference on Tuesday, the new Minister of Finance, Selina Robinson, revealed that British Columbians will be able to apply for the benefit beginning on Dec. 18. The application portal will be available on the Government of B.C.’s website.
Individuals will receive a one-time payment of up to $500 for single people earning less than $62,500 annually, according to the government.
Single people earning up to $87,000 will be eligible for a reduced benefit payment, Robinson noted during the announcement.
Families making less than $125,000 will receive up to $1,000 from the recovery benefit.
Families, including single-parent families, earning up to $175,000 will qualify for a reduced benefit, adds Robinson.
“We expect hundreds of thousands of British Columbians to have their benefit directly deposited into their bank accounts before the end of this year,” said Robinson.
The finance minister also believes that payments will be deposited within a couple of days after applying.
Robinson estimates that up to 3.7 million British Columbians will be eligible for the benefit.
“This will give people some breathing room and peace of mind,” Robinson said during her conference.
“A bit more to spend on groceries, on coats, on boots for their growing kids, and special gifts to lift our spirits.”
Robinson states that British Columbians who need the support of income and disability assistance will receive an automatic recovery supplement, in addition to the recovery benefit payment.
The supplement will come in the form of an additional $150 per month for January-March. Individuals on income and disability assistance could receive up to an additional $950 over those months, when combined with the one-time benefit payment.
Families with both parents receiving income and disability assistance can earn up to $1900 through this program, Robinson said.
The bill is providing an additional $2 billion in support for British Columbians as the province continues to work towards COVID-19 recovery.
“These benefits will also help stimulate our local economy and support small businesses that are working hard and providing good jobs for people. This is an important part about how we recover.” Robinson said.
Robinson outlined as well that a financial update on fiscal spending is to be held next week.
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Graham Cox
Mary Griffin
