Check out the details about Climate Action Tax Credit: What is BCCATC? Payment Dates and Status Released from this article. Different details about Climate Action Tax Credit: What is BCCATC? Payment Dates and Status Released, and other essential information are available in this article.
Climate Action Tax Credit
The Climate Action Tax Credit is a quarterly payment that helps to lower the impact of carbon taxes. The Climate Action Tax Credit is entirely funded by the British Columbia Government and is only available to its residents. However, the Canada Revenue Agency administers the payments of this significant tax credit for the British Columbia Government.
The new budget of 2024 increased the tax credit amount from July 1, 2024. Like other tax credits, the benefit amount depends on the AFNI. In addition, only 1 individual can get the BCCATC on behalf of a family.
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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 is an abbreviation for the British Columbia Climate Action Tax Credit. The BCCATC is a tax-free payment aimed at helping low-income individuals/families reduce the impact of the carbon taxes they pay. This significant tax credit is calculated on the basis of the T1 Income Tax and Benefit Return of the previous year.
Furthermore, the residents of British Columbia don’t need to apply to receive the BCCATC, as the CRA automatically determines eligibility on the basis of the T1 Income Tax and Benefit Return. More information on the BCCATC can be learned by visiting the authorized website of the British Columbia Government.
Climate Action Tax Credit Eligibility
The eligibility for the BCCATC and the credit amount is determined by the CRA. The eligibility requirements for the BCCATC include being a resident of British Columbia and aged 19 or older. Aside from these, their adjustable family net income should satisfy the threshold set by the CRA.
The amount issued as a BCCATC Payment is a non-taxable amount. This means that the taxpayers who receive the BCCATC shouldn’t include it in their T1 Income Tax and Benefit Return.
BCCATC Amount
The quarterly credit amount of the BCCATC will be 1/4th of the annual payment amount. The maximum amount credited as BCCATC Payment is –
| 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) |
In case the AFNI of 2022 is lower than the threshold, the payment amount will be maximum (according to the family size). Whereas if the AFNI exceeds the threshold limit, the credit amount decreases by 2% of the income above the stated limit. For each child, families can receive 111.50 dollars.
| 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 |
Hence, for individuals, the credit is reduced by 2% of their AFNI above 39,115 dollars. For families, the amount is decreased by 2% of their AFNI above 50,170 dollars. Further information on the reduction and total credit amount can be learned through the authorized website of the British Columbia Government.
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Climate Action Tax Credit Payment Dates & Status
The Climate Action Tax Credit payments are made on a quarterly basis. If the residents are eligible and have an annual credit amount exceeding 40 dollars, they will receive the quarterly payments. Please note that the government doesn’t contact the beneficiaries regarding the BCCATC Payments by text messages.
Furthermore, the payment of each month is combined with the GST/HST credit and is delivered as a single payment. The BCCATC payments are usually issued on the 5th day of the usual payment month.
The payment months are –
- July 2024
- October 2024
- January 2024
- April 2024
However, the payments of the BCCATC can take up to 10 days to be delivered from the issue date. Hence, it is suggested to regularly update the information, such as an address, bank details, etc., so that CRA can issue payments correctly and on time. Moreover, the beneficiaries can ask CRA for any queries and doubts related to the tax credits.
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