Carbon tax, climate action tax credit both rose on July 1

carbon taxes in B.C. rose on July 1

  • Jul. 5, 2011 7:00 a.m.

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 today.

Effective July 1, the carbon tax on gasoline rose 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.

 

 

Ministry of Finance press release