Canada’s Child Benefits are designed to support families with children by providing much-needed financial assistance. As of July 2023, the Canada Child Benefit (CCB) has seen new adjustments to help families better cope with the rising cost of living. If you’re a parent or caregiver, you may be wondering, “How much will I get?” Here’s a breakdown of everything you need to know.
Child benefits are rolling out to Canadians
The Canada Child Benefit (CCB) is a tax-free monthly payment that helps eligible families with children under 18 manage the cost of raising them. Introduced in 2016 and adjusted annually for inflation, this benefit is aimed at supporting low- and middle-income families. It’s an essential lifeline for many Canadians, especially as inflation drives up the cost of living.
The amount you receive depends on your family’s Adjusted Family Net Income (AFNI) and the number of children in your household. Payments increase if your child has a disability. Families with lower incomes receive the maximum benefit.
CPP Benefits
| Category | Annual Benefit (Max) | Monthly Payment (Max) | Child Disability Benefit |
|---|---|---|---|
| Children under 6 | $7,437 | $619.75 | Up to $3,173 per year |
| Children 6 to 17 years | $6,275 | $522.92 | – |
How Are Payments Calculated?
The amount of CCB you receive is based on:
- The number of children under your care.
- Their ages (younger children receive higher benefits).
- Your Adjusted Family Net Income (AFNI).
- Whether your children qualify for the Disability Tax Credit (DTC).
If your AFNI is below $30,000, you’ll likely qualify for the maximum amount. As your income increases, the benefit gradually decreases. For instance, a family earning $70,000 with one child under 6 would receive less than a family with an income of $30,000.
Additional $2,900 CPP for Seniors – Who is Eligible? Check Date & List
CRA All Benefits Payment Dates for September 2024: Check the Complete List
Eligibility Criteria
To qualify for the Canada Child Benefit, you must:
- Live with the child and be primarily responsible for their care.
- Be a resident of Canada for tax purposes.
- Be a Canadian citizen, permanent resident, protected person, or have a valid temporary resident status.
Application Process
Applying for the CCB is straightforward. You can either:
- Apply online via the CRA My Account portal.
- Complete and mail Form RC66 to your local tax center.
If you’ve just had a child, you can also automatically apply for CCB while registering your child’s birth in your province. Payments typically start within 8 weeks of application if done online.
Key Payment Dates for 2024
CCB payments are issued around the 20th of every month. Mark your calendar for these dates:
- January 19, 2024
- February 20, 2024
- March 20, 2024.
Additional Provincial and Territorial Benefits
In addition to the federal CCB, provinces like British Columbia and Ontario offer additional child benefits. Be sure to check your provincial government’s website to see if you’re eligible for further assistance.
FAQ: Common Questions About the Canada Child Benefit
- When will I receive my payment?
Payments typically arrive around the 20th of every month, but the exact date may vary slightly depending on your bank. - How do I update my information if my circumstances change?
Log into your CRA My Account to update your information, such as a change in custody or marital status. - Can I apply for retroactive payments?
Yes! You can request retroactive CCB payments for up to 10 years if you were eligible but didn’t apply.
