Provincial Government Announces Application Process for the BC Recovery Benefit
December 16, 2020
On Tuesday, December 8th the provincial government announced the finalized details of the BC Recovery Benefit. This benefit is a one-time, tax free payment of up to $1,000 for families and up to $500 for individuals.
What are the eligibility requirements?
To be eligible for the recovery benefit, you must meet the following requirements:
- Reside in BC on December 18, 2020
- Be at least 19 years old on December 18, 2020
- Have filed a Canadian personal income tax return for 2019
How much of the recovery benefit will you receive?
Families with a combined net income in 2019:
- less than $125,000, will receive the full $1,000
- between $125,000 and $175,000 will receive a reduced amount
- higher than $175,000 are not eligible for the benefit
Individuals with a net income in 2019:
- less than $62,500, will receive the full $500
- between $62,500 and $87,500, will receive a reduced amount
- higher than $87,500 are not eligible for the benefit
How can you apply for the recovery benefit?
Online applications open December 18, 2020 and will remain open until June 30, 2021.
To make application, you will need the following information:
- Net income from your 2019 personal tax return (line 23600)
- Your social insurance number or individual / temporary tax number
- If you have a BC driver’s license, the number will be required
- Direct deposit information, if you are not already signed up for it
In these unprecedented times, we understand that there is a lot of information to disseminate.
We at Provision are here to help you in any way we can. Feel free to reach out directly to your contact at Provision for more details and clarifications.
604-273-6601 ext. 109
604-273-6601 ext. 112
604-273-6601 ext. 104
604-273-6601 ext. 105