British Columbia's Low Income Climate Action Tax Credit increased by 10 per cent on July 1 to help low income families and individuals offset the increasing rate of the revenue-neutral carbon tax, Finance Minister Kevin Falcon announced June 30.
Effective July 1, the carbon tax on gasoline rises by 1.11 cents per litre to 5.56 cents per litre. Other fuels see a similar increase.
Government provides the Low Income Climate Action Tax Credit, paid quarterly, to ensure low- and modest-income British Columbians are compensated for the tax they pay. The 10-per-cent increase brings the payment to $115.50 per adult and $34.50 per child annually.
"We are protecting lower-income individuals and families with the climate action tax credit so that most are better off under the revenue-neutral carbon tax than they were before, especially if they take steps to reduce their carbon footprint," said Falcon in a news release. "The carbon tax is an incentive for all British Columbians to do their part to prevent climate change by reducing fossil fuel use and lowering greenhouse gas emissions. Whether you switch to energy-efficient light bulbs, shop locally for produce, purchase eco-friendly upgrades for your home, or ride your bike to work, your decisions can make a big difference to reduce the use of fossil fuels. Taking steps to reduce your carbon footprint can lower your energy, water and fuel consumption - not to mention save you money in the long run."
Information on the carbon tax is available at
www.fin.gov.bc.ca/tbs/tp/climate/carbon_tax.htm. For information on how to make greener choices that save money at home, at work and on the road, visit LiveSmart BC at www.livesmartbc.ca/.
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