By Jessie Sunner, MLA for Surrey-Newton
With tax filing season coming to a close, we’re getting the word out about money you can be getting right now, just by filing your taxes.
Every year, many people in B.C. miss out on hundreds or thousands of dollars in benefits to help with the cost of living. In fact, it’s estimated that more than one in 10 eligible people in Canada do not file their taxes, and nearly a quarter of them are young people aged 18-24.
Don’t leave money on the table – file your taxes. Even people who don’t have an income and are not required to file, can still file to receive the benefit payments.
If you’re making up to $148,000 in B.C., you’re paying one of the lowest income taxes in the country and could qualify for benefits and credits that reduce your taxes even more.
Many working- and middle-class British Columbians who file end up paying less tax than they get in benefits. These benefits include:
• BC Family Benefit and Canada Child Benefit – tax-free monthly payments to families with children under the age of 18, to help reduce the costs of raising kids in B.C.
• B.C. renter’s tax credit – an annual refundable tax credit to help renters with the cost of housing as we build more affordable homes to get rent prices down.
• The federal GST/HST credit – quarterly payments to help offset the cost of GST people pay at the store.
• And personal income tax credits – which may lead to a refund of what you paid during the year.
Need help with a tax return? The Canada Revenue Agency has free tax clinics for eligible people with modest income and a simple tax situation. These clinics are hosted by community organizations and run by volunteers.
Visit gov.bc.ca/TaxBenefits to find a tax clinic near you, learn more about cash benefits when you file your taxes, and find other programs to help with costs.
Tax benefits are one way the B.C. government is working to help people and families with the cost of living, alongside our work to help people find affordable homes, protect strong public services, and grow the economy.
