Toronto 
Credit: Legislative Assembly of British Columbia
British Columbia has announced a cumulative economic package of $5 billion in income supports, tax relief and direct funding for people, businesses and services to ease the monetary hardships faced by British Columbians due to COVID-19. B.C.’s COVID-19 Action Plan is in addition to the federal government’s COVID-19 economic plan.
B.C. COVID-19 Action Plan Highlights
The plan dedicates $2.8 billion to help people and fund the services they need to weather the crisis; $2.2 billion will provide relief to businesses and help them recover after the outbreak.
For Students, Families & Workers
- $1.1 billion to boost the income of people affected by COVID-19.
- B.C. Emergency Benefit for Workers and the enhanced B.C. Climate Action Tax Credit will complement federal income supports and help people who are struggling with job loss, reduced income or increased costs through the immediate crisis.
- One-time $1000 payment for British Columbians under new B.C. Emergency Benefit for Workers Plan. The benefit will be for British Columbians who receive federal Employment Insurance (EI), or the new federal Emergency Care Benefit or Emergency Support Benefit as a result of COVID-19 impacts.
- B.C. Emergency Benefit for Workers is for workers who have been laid-off, who are sick or quarantined, parents with sick children, parents who stay at home from work while child care centres and schools are closed, and those caring for sick family members, such as an elderly parent.
- The workers can be EI-eligible and non-EI eligible, such as the self-employed.
- The benefit will be paid to B.C. residents, in addition to their federal income supports.
- Increase and expand the B.C. Climate Action Tax Credit in July 2020. Eligible families of four will receive up to $564 and eligible individuals will receive up to $218 in an enhanced payment. This boosts the regular climate action tax credit payment of up to $112.50 per family of four and up to $43.50 per adult.
- $1.7 billion investments in housing and shelter supports, income and disability assistance programs and crucial health services, such as funding for the BC Centre for Disease Control hotline, quarantine costs, lab tests and work underway at the First Nations Health Authority and the United Way’s Better at Home program for seniors.
- The Province is freezing B.C. student loan payments for six months, starting March 30, 2020.
- British Columbia is implementing bill payment deferral programs at ICBC and BC Hydro. ICBC is extending deferrals to up to 90 days. People dealing with job loss, illness or loss of wages due to COVID-19 may also qualify for BC Hydro’s Customer Crisis Fund grant program for up to $600.
For Businesses
- To support non-profits, service delivery agencies and child care providers, the Province will provide funding even if these agencies are closed or their regular operations have been disrupted. Licensed child care providers staying open will receive enhanced funding to keep operations going. These centres are eligible to receive seven times their average monthly operating funding from government, which is expected to cover approximately 75% of a group facility’s average monthly operating expenses.
- Businesses with a payroll over $500,000 can defer their employer health tax payments until Sept. 30, 2020. Businesses with a payroll under this threshold are already exempt from the tax.
- The Province is extending tax filing and payment deadlines for the provincial sales tax (PST), municipal and regional district tax, tobacco tax, motor fuel tax and carbon tax until Sept. 30, 2020.
- The scheduled April 1 increase to the provincial carbon tax, as well as the new PST registration requirements on e-commerce and the implementation of PST on sweetened carbonated drinks, will be delayed and their timing will be reviewed by Sept. 30, 2020.
- School tax of Business and light- and major-industry property classes cut in half. This will provide $500 million in immediate relief for business that own their property and allow commercial landlords to immediately pass savings on to their tenants in triple-net leases.
The B.C. government is also partnering with business and labour leaders to build an economic stimulus plan. The Province has allocated $1.5 billion for economic recovery.
For detailed information on B.C.’s COVID Action Plan and other government resources and updates, see here.
