It’s not an April Fools joke.
In an effort to tackle climate change, the price of gas in B.C. will increase another three cents on Monday.
The B.C. government says to offset that, about 65 per cent of British Columbians will qualify for a tax credit, but that means roughly 35 per cent will not.
The amount received will depend on your household’s net income and the size of your family.
A single person taking home less than $39,000 will get the maximum credit of $447 a year.
Payments are reduced for a single person until around $61,000 when the credit becomes zero.
For couples and parents, the household net income threshold is roughly $50,000 for a full tax credit per family member.
Payments reduce and then stop anywhere between $83,000 and $100,000, depending on the number of children.
The B.C. government has provided a website where residents can check their eligibility.
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B.C.’s Minister of Environment and Climate Change Strategy said “100 per cent of the carbon tax increase on April 1st is going back to the Climate Action Tax Credits to supporting low and middle-income British Columbians.”
However, the opposition said the increase will have a cascading effect.
“Every time they increase the carbon tax, they’re increasing the cost of transportation, which is how we get all our goods that show up at our grocery stores that increases the pressure on grocery prices, which are already the highest in the country,” opposition leader Kevin Falcon said.
In a statement, Minister of Finance, Katrine Conroy, said the government is trying to fight pollution and help with costs.
“Government is helping reduce everyday costs by delivering middle-class housing, cutting child care costs, reducing ICBC rates, boosting family benefits and keeping hydro costs low,” she said.
“A family with two kids, earning $100,000 pays nearly $3,000 less net provincial taxes today than in 2016. Individuals earning up to $150,000 pay the lowest personal income tax rate among provinces.”
© 2024 Global News, a division of Corus Entertainment Inc.
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