The provincial government will help parents with back to school costs thanks to an expansion of the tax credits available to parents, B.C. education minister Mike Bernier recently announced.
Subject to the approval of the legislature, the B.C. back-to-school tax credit is a new, non-refundable tax credit of $250 per child.
Bernier said the credit can be claimed in addition to the tax credits already available for eligible arts, sports and fitness programs and equipment.
“The tax credit also adds to the savings parents and guardians will receive thanks to the provincial sales tax exemption that exists on numerous school supplies as well as children’s clothing and footwear,” he added.
The back-to-school tax credit can be claimed when parents complete their annual tax returns for 2016. To be eligible, children must be turning ages five to 17 in the tax year. Only B.C. residents will be eligible to claim the credit and parents will not need to keep their receipts for school-supply expenses. The new tax credit will be included in B.C.’s 2017 budget.