You could get help with housing costs through a BC tax credit and a grant this year.
The BC Government announced income thresholds are increasing for the renter’s tax credit, a credit that gives money to renters with low and moderate income.
They say you can claim as much as $400 a year off taxes if your income is $63,000 or less, or a partial credit if the income is $83,000.
Along with this credit, the government says they are also adjusting the homeowner grant.
“To start the new year, B.C. is adjusting the property value threshold for the homeowner grant so it continues to cover 92% of homeowners,” said the province.
“This is an increase of $25,000 from the previous threshold to reflect moderate and stable market conditions.”
They say the grant will provides as much as $770 for eligible homeowners, while veterans, seniors, and those with a disability able to apply for another grant and get $1,045.
For how to apply for this grant, click here. To learn more about the tax credit, click here.
