Please note that details have been provided by the BC Provincial website per below and go into more depth. Below is a simple summary to help provide awareness of what is available to everyone.
The main focus is on the 1) BC Emergency Benefit for Workers ($1,000 Subsidy) and the 2) Provincial rent subsidy.
If you are either renting or if you are currently receiving the CERB or EI, we highly encourage yourselves to familiarize yourself with below and to apply for what is applicable.
Source: Government of British Columbia
Two Main Provincial subsidies available
Below is a quick point form summary of all provincial subsidies available
1. BC Emergency Benefit for Workers – $1,000
If you are receiving the CERB or EI, the provincial government will provide a one-time $1,000 payment.
Eligibility
- Same requirements as the CERB or EI. Likewise if you are receiving either, you will be eligible.
- You will also need to file or will file your 2019 T1 Tax Return.
Applications have not yet been open on how to apply yet, but please keep watching the news.
2. Provincial rent subsidy – $300 or $500 per month
The BC government will pay Eligible Households thru BC Housing:
- Up to $500 per month if you have dependents (kids)
- or up to $300 per month if you do not have dependents.
Eligibility
For the $500 a month
- You will need to earn $113,040 or less of combined gross income
- Be receiving the CERB or EI
- Be able to demonstrate that your household income has dropped 25% or more due to COVID-19
- Rent is 30% or more of your household income
- Note that your Landlord must approve this information and the payment goes directly to the landlord.
For the $300 a month
- You will need to earn $74,150 or less of combined gross income
- Be receiving the CERB or EI
- Be able to demonstrate that your household income has dropped 25% or more due to COVID-19
- Rent is 30% or more of your household income
- Note that your Landlord must approve this information and the payment goes directly to the landlord.
Please apply or call: 1-877-757-2577
Additional Subsidies and deferrals are offered by BC Hydro, ICBC and Fortis BC
BC Hydro
If you have lost your job due to COVID-19, you can get a bill credit worth 3 times your average bill. Apply here as applications are open up to June 30th, 2020.
ICBC
If you are paying monthly, you are allowed to defer your payment for up to 90 days without penalty or interest due to COVID 19.
Fortis BC
Fortis BC has setup a Customer Recovery fund to defer bills from April 1st to June 30th, 2020. There will be no interest or penalties and the amount that would have been paid in those months are instead spread over the next year.
Please contact our Vancouver accounting firm if you need further assistance.