How To Apply For BC Child Opportunity Benefit?
In this tutorial we explain how to apply for the BC Child Opportunity Benefit step by step. Follow the instructions below.
British Columbia Child Opportunity Benefit (Overview)
The B.C. Child Opportunity Benefit, which replaced the B.C. Early Childhood Tax Benefit on October 1, 2020, gives families with children under the age of 18 a tax-free monthly payment.
The maximum amount of BC Child Opportunity Benefit a family may get in a year is:
- A family’s first kid have $1,600.
- A second kid will have $1,000.
- Each additional kid under the age of 18 will have $800.
The B.C. Child Opportunity Benefit is lowered by 4% of the part of the adjusted family net income above $25,000 but less than $80,000 if the adjusted family net income is more than $25,000 but less than $80,000. However, if a family’s adjusted family net income is between $25,000 and $80,000, the B.C. Child Opportunity Benefit is not less than:
- For the first kid, the annual get is $700.
- The second kid will get $680 per year.
- Each additional kid under the age of 18 receives $660 per year.
The remaining B.C. Child Opportunity Benefit is lowered by 4% of the percentage of the adjusted family net income above $80,000 until it is reduced to zero for families with an adjusted family net income of $80,000 or more.
In future years, the $25,000 and $80,000 levels will be adjusted for inflation.
The British Columbia Child Opportunity Benefit and the federal Canada Child Benefit are merged into a single monthly payment.
How to Calculate BC Child Oportunity Benefit?
Families will be able to receive 1/12 of the yearly benefit each month starting in October 2020 onwards.
To calculate the value of the benefit to be received by the government, use the government BC Child Support calculator, where the data will be filtered and the approximate value to be received for the benefit will be calculated. https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-family-benefits-calculator.html
How To Apply For British Columbia Child Oportunity Benefit?
To apply for the BC Child Opportunity Benefit, you must enroll in the CRA Canada Child Benefit (CCB) program, which is the main requirement to access the BC Child Opportunity Benefit. Once you are registered, or if you are already registered, you are automatically registered for the BC Child Opportunity Benefit, as in some cases the CRA administers Provincial benefits.
If you are not yet registered with the CCB use this guide https://the-benefits.org/apply-for-canada-child-benefit/. when registering The information from your Canada Child Benefit application will be used by the Canada Revenue Agency to establish your eligibility for the BC Child Opportunity Benefit. If you are qualified, the Canada Revenue Agency will compute your payments automatically using information from your personal tax returns (and those of your spouse or common-law partner).
BC COB FAQs
Is there a limit to the number of children for whom I may get the benefit?
No, you may get the benefit for each dependent kid who qualifies.
For a family with five children, the maximum yearly benefit would be $5,000, divided as follows:
- The benefit of the family’s first kid was $1,600.
- The second kid will get $1,000.
- The three extra children under the age of 18 will cost $2,400 ($800 for each new kid).
My kid is shared custody with another individual. Will I be eligible for that child’s benefit?
If you share custody of a kid with another individual, you may still be eligible for the benefit. In a shared custody agreement, the amount you’d get for a kid is half of what you’d get if you had full possession of that child.
If your adjusted family net income is $25,000 and you have exclusive custody of one kid ($1,600) and share custody of another ($1,000 x 1/12), you will earn a total yearly benefit of $2,100.
Is it necessary for me to submit my T1 Income Tax and Benefit Return in order to get the Child Opportunity Benefit in British Columbia?
Yes, both you and your cohabitating spouse or common-law partner. If applicable, must submit a T1 Income Tax and Benefit Return to collect the B.C. Child Opportunity Benefit.
