The BC government is reminding residents that if they don’t do their taxes, they are potentially leaving money on the table that could be theirs.
According to the Province, it is estimated that more than 10% of eligible people in Canada do not file their taxes. Furthermore, nearly 25% are young people, between 18 and 24-years-old who would likely receive money back from the government if they took the time to do their taxes.
It is estimated that 20% of renters don’t file their taxes, and could be receiving the Province’s tax credit of up to $400 if they make less than $63,000 per year, or a partial credit if they make more than this.
For people unsure of how to claim this renter’s credit, they must fill out Form BC479 British Columbia Credits when filing their tax returns.
Additionally, the Province says that depending on family income, people will automatically receive additional benefits and credits they file their taxes, such as the BC family credit and the climate-action tax credit.
The BC family credit is deposited into eligible families’ bank accounts on the 20th of each month and is worth up to $2,000 per year.
Around 275,000 British Columbians received the BC family credit in 2024.
The climate-action tax credit is paid out quarterly along with the federal government’s GST/HST credit, and is worth up to $1,008 for the upcoming tax year.
The Province says this credit is paid out to over two million BC residents.
For those who have not filed taxes in past years, they will receive a back-pay of eligible tax credits within six to eight weeks of getting up to date with their tax returns.
The federal government organizes free tax clinics for those with simple tax returns where volunteers will help them file their taxes and teach them how to do them going forward.
In Victoria alone, there are seven free tax clinics which can be found online here.
