Working Income Tax Benefit

Low income individuals will be eligible for a refundable Working Income Tax Benefit (WITB) tax credit in 2015. You must be a Canadian resident for income tax purposes throughout 2015 and be at least 19 years of age or living with a spouse or common law partner at the end of 2015 to qualify.

The refundable tax credit is available on earned income exceeding $4,750 to a maximum tax credit for British Columbia residents of $1,227 (with net income of $12,622) for individuals, and $1,947 for families (with net income of $17,013).

The credit is reduced where the income of the BC resident is in excess of $12,622 for individuals ($17,013 for families), and declines to zero at an income level of $20,059 for individuals ($28,813 for families).

The credit is not available to individuals who are enrolled as a full-time student for more than 13 weeks in the year and do not have an eligible dependent.

You may also be eligible to apply for an advance of up to 50 per cent of the WITB you expect to receive for 2016. You should apply for the advance using Form RC201 between January 2 and August 31, 2016. The calculated advance amount must be at least $100 in order to be paid as an advance. Amounts less than $100 can be claimed only with your income tax return. Please refer to the CRA website listed below for the scheduled advanced payment dates.

See CRA’s website for more information.