Canada Child Benefit increased

Canada Child Benefit increased two years ahead of schedule

Quick facts

Across Canada, CCB payments worth $23.7 billion benefit nearly 3.7 million Canadian families.

Over 870,000 families in Quebec received nearly $5.5 billion from the CCB in the 2017–18 benefit year.

The CCB has helped lift more than half a million people—including 300,000 children—out of poverty.

The CCB will now have a maximum annual benefit of $6,496 per child under age 6 and $5,481 per child aged 6 through 17 years.

Examples:

For a single parent earning $35,000 with two children, the accelerated indexation of the CCB will contribute nearly $600 towards the increasing costs of raising their children for the 2019–20 benefit year.

A single working parent who has two children (one child under 6 and one child aged 6–17) and who earns $30,000 a year receives almost $12,000 in benefits for the 2018–19 benefit year. This is about $3,000 more than they would have received under the previous system of child benefits.

About Expert Fiscaliste

Expert Fiscaliste provides Canadian and international income tax preparation and consulting services to individuals, businesses, and trusts. If you are interested in our services call us at 514-954-9031, or visit our Contact Tax Experts page.

Author: will

30+ year tax professional preparing individual tax returns for Canadians and non-residents of Canada.

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