Why do you need to file?
Filing your income tax form could mean over $600 to you in 2012 - more if you qualify for the BC Family Bonus.
BC HST Credit (BCHSTC)
This credit is designed to offset the impact of the HST on low-income families. It provides a maximum annual credit of $230 per family member. Single individuals with no children whose adjusted net income is $20,000 or less and families whose adjusted family net income is $25,000 or less receive the maximum credit. It is reduced by four per cent of adjusted family net income over $20,000 for singles and over $25,000 for families. It is combined with the quarterly payment of the federal GST/HST credit.
In order to continue receiving this benefit in July 2012, you must file a 2011 tax return.
BC Low Income Climate Action Tax Credit (BCLICATC)
This credit is a tax-free payment to help low-income individuals and families with the carbon taxes they pay.
The program provides a credit of up to $115.50 for an individual, $115.50 for a spouse or common-law partner and $34.50 per child ($115.50 for the first child in a single parent family). For single individuals with no children, the credit is reduced by two per cent of his or her adjusted net income over $30,722. For families, the credit is reduced by two per cent of their adjusted family net income over $35,843.
The BCLICATC payment is combined with the quarterly payment of the federal GST/HST credit and the BC HST Credit.
In order to continue receiving this benefit in July 2012, you must file a 2011 tax return.
Your total annual entitlement could be over $600: GST/HST, $260/individual; BC HST, $230/individual; BC Low Climate, $115.50/individual.
BC Family Bonus (BCFB)
The BCFB program includes the basic family bonus and the BC Earned Income Benefit. This program provides non-taxable amounts paid monthly to help low and modest income families with the cost of raising children under 18 years of age. Benefits are combined with the Canada Child Tax Benefit into a single monthly payment.
Basic Family Bonus
The basic family bonus is calculated based on the number of children you have and your adjusted family net income. Use the Canada Child Tax Benefit/related provincial and territorial benefits calculator to determine the amount of your benefit.
www.cra-arc.gc.ca/bnfts/clcltr/cctb_clcltr-eng.html
BC Earned Income Benefit
Families whose working income is more than $10,000 and whose adjusted family net income is $21,480 or less, may also be entitled to the following:
• $5.91 per month for the first child;
• $5 per month for the second child; and
• $10 per month for each additional child.
Families whose working income is between $3,750 and $10,000 or whose adjusted family net income is more than $21,480 may get part of the earned income benefit. Use the Canada Child Tax Benefit/related provincial and territorial benefit calculator to determine your benefit. www.cra-arc.gc.ca/bnfts/clcltr/cctb_clcltr-eng.html
BC Medical Services Plan Premium Assistance Program
You must also file a return before you can get relief under the BC Medical Services Plan Premium Assistance Program. The amount of relief you get is based on your adjusted net income and can vary from $64 per month for a single person to $128 per month for a family of three.
Other benefits
You may also be eligible for other benefits such as:
• National Child Benefit Supplement
• Universal Child Care benefit
• Working Income Tax benefit