BC parents are set to get an increase in benefit payments starting this month.
The province’s Family Benefit has been helping low to mid-income parents have access to additional money to help raise their children since 2019.
On Tuesday, July 18th, BC announced it would be bolstering the amount that families receive for the rest of 2023 and into next year.
“Global inflation and higher interest rates continue to be hard on many families right now,” said Grace Lore, Minister of State for Child Care.
“The BC Family Benefit is one way we’re helping families provide the food, clothes and opportunities their kids need to have the best start possible.”
The Family benefit is administered as a monthly payment based on how many children a family has and what their annual income is.
The amount a family will receive is also based on a sliding scale when it comes to their annual income. The income threshold has also been increased with inflation this year.
If a family or single-parent made less than $27,354 they will receive the full amount; if they made between $27,354 and $87,533, they will get a reduced amount; between $87,534 and $106,907, they will get the minimum amount and if a family or parent made more than $106,908, they will get nothing.
Now, the province says the amounts for the next year, up until June 2024, have been increased by $250 per year for a two-parent family of four or even $750 per year for a single-parent of two.
According to the province, over 285,000 families that receive the BC Family Benefit will get an average of $2,254 per year.
Parents who receive this BC Family Benefit say that in the current economic landscape, the extra funds are needed.
“I have always been my daughter’s sole supporter,” said Charla Huber, a BC parent. “Having access to supports like the BC Family Benefit was so important to us in the earlier years and helped ease the financial stress as a single mother.”
“The extra money has gone a long way in helping me get to the place I am today and build a good life for me and my daughter.”
The BC Family Benefit will be topped up beginning this month and parents will notice the funds being deposited by the Canada Revenue Agency around July 20th, along with the 20th of every month after that.
