BC Early Childhood Tax Benefit

imageBudget 2014 introduced the BC early childhood tax benefit (BCECTB) as a tax-free monthly payment, effective April 1, 2015. Benefits from this program will be combined with the federal Canada Child Tax Benefit (CCTB) and the BC family bonus program into a single monthly payment.

The BCECTB provides a benefit of up to $55 per month per child under age six. Benefits are based on the number of children in the family and the family’s net income. The BCECTB will be reduced if the family’s net income exceeds $100,000 and will be zero once the family’s net income exceeds $150,000.

The Canada Revenue Agency (CRA) will administer the BCECTB program for the province. The CRA will use the information from your CCTB registration to determine your eligibility for the BCECTB. If your child is already registered for the CCTB, they will be automatically registered for the BCECTB. You don’t need to apply separately for the BCECTB. IF your child is not registered for the CCTB, you need to apply for the CCTB to determine eligibility for the BCECTB. If you’re eligible, the amount of any payments will be calculated automatically based on information from the tax returns you (and your spouse of common-law partner) have filed.

To estimate your total monthly child tax benefit payment (combined federal and provincial amounts), use the CRA’s Child and Family Benefits online calculator

For more information and to find out if you qualify, please see CRA’s BCECTB Frequently Asked Questions..

 

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