Budget 2014 proposes to introduce the B.C. 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 B.C. family bonus program into a single monthly payment.
The BCECTB provides a benefit of up to $55 per month per child under age 6. 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.
Complete budget www.gov.bc.ca/budgettaxchanges
