Explore comprehensive information about the Climate Action Tax Credit (BCCATC) including payment dates and status updates in this article. Discover all you need to know about the BCCATC and stay informed with the latest details and essential information.
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Climate Action Tax Credit
The Climate Action Tax Credit is a quarterly payment aimed at mitigating the impact of carbon taxes. Fully funded by the British Columbia Government, it is exclusively available to residents of the province. However, administration of these payments is handled by the Canada Revenue Agency on behalf of the British Columbia Government.
Starting July 1, 2024, the tax credit amount has been increased as per the new budget. Similar to other tax credits, the benefit amount is contingent upon the Adjusted Family Net Income (AFNI). Additionally, only one individual per family can receive the BCCATC.
BC Climate Action Tax Credit
| Name | Climate Action Tax Credit |
| Province | British Columbia |
| Administered by | CRA |
| Funded by | Government of British Columbia |
| Payment Frequency | Quarterly |
| Payment Type | non-taxable |
| Benefit Year | July 2024 to June 2024 |
| Amount | 447 dollars (individuals) | 223.50 dollars (Spouse/Common-law partner) |
| Payment Months | July, October (2024), January, and April (2024) |
| Website | gov.bc.ca |
What is BCCATC?
BCCATC stands for British Columbia Climate Action Tax Credit. It is a tax-free payment designed to assist low-income individuals and families in mitigating the impact of carbon taxes they incur. This substantial tax credit is calculated using information from the previous year’s T1 Income Tax and Benefit Return.
Residents of British Columbia do not need to submit a separate application to receive the BCCATC. Eligibility is automatically assessed by the Canada Revenue Agency based on the T1 Income Tax and Benefit Return. For more detailed information about the BCCATC, please visit the official website of the British Columbia Government.
Climate Action Tax Credit Eligibility
Eligibility for the BCCATC and the amount of the credit are determined by the CRA. To qualify for the BCCATC, individuals must be residents of British Columbia and aged 19 or older. Additionally, their Adjusted Family Net Income must meet the threshold set by the CRA.
Payments issued as part of the BCCATC are non-taxable. Recipients of the BCCATC do not need to report this amount on their T1 Income Tax and Benefit Return.
BCCATC Amount
The quarterly credit amount of the BCCATC is one-fourth of the annual payment amount. The maximum amount credited as a BCCATC Payment is determined based on specific criteria.
| Beneficiaries | Maximum Amount |
| Individuals | 447 dollars |
| Spouse/Common-law partner | 223.50 dollars |
| Children | 111.50 dollars per child (223.50 dollars for the 1st child of a single-parent family) |
If the Adjusted Family Net Income (AFNI) for 2022 falls below the threshold, the payment amount will be the maximum allowable based on family size. However, if the AFNI exceeds the threshold, the credit amount decreases by 2% of the income above the specified limit. Families can receive an additional $111.50 for each child.
| Beneficiary | AFNI Threshold |
| Single | 39,115 dollars |
| Married/Common-law with no children | 50,170 dollars |
| Married/Common-law with 1 child | 50,170 dollars |
| Married/Common-law with 2 children | 50,170 dollars |
| Married/Common-law with 3 children | 50,170 dollars |
| Single parent with 1 child | 50,170 dollars |
| Single parent with 2 children | 50,170 dollars |
| Single parent with 3 children | 50,170 dollars |
Therefore, individuals will see a reduction of 2% in their credit for every dollar of AFNI exceeding $39,115. For families, the credit is reduced by 2% for every dollar of AFNI above $50,170. For more details on these reductions and the total credit amount, please refer to the official website of the British Columbia Government.
Climate Action Tax Credit Payment Dates & Status
The Climate Action Tax Credit payments are distributed quarterly to eligible residents who qualify for an annual credit amount of $40 or more. It’s important to note that the government does not communicate with beneficiaries about BCCATC Payments via text messages.
Moreover, these payments are consolidated with the GST/HST credit and disbursed as a single payment each quarter. Typically, BCCATC payments are issued on the 5th day of the scheduled payment month.
The payment months are –
- July 2024
- October 2024
- January 2024
- April 2024
However, BCCATC payments may take up to 10 days to be delivered after the issue date. Therefore, it is advisable to keep your information updated, including your address and bank details, to ensure that the CRA can process and deliver payments correctly and promptly. Additionally, beneficiaries are encouraged to contact the CRA for any inquiries or concerns regarding tax credits.