The Canada Child Benefit (CCB) is a helpful program from the Canadian government that provides tax-free money each month to families with children under 18 years old. It’s designed to ease the financial burden of raising kids. With the rising cost of living these days, this benefit can be a big help for many Canadian families.
This guide will explain everything you need to know about the CCB, including:
- What it is and who can get it
- How much money you can receive
- When the payments are issued
What is the Canada Child Benefit (CCB)?
The CCB is a monthly payment from the Canada Revenue Agency (CRA) that goes to eligible families to help cover the costs of raising children. It’s important to note that this benefit may also include the Child Disability Benefit and other programs depending on your province or territory.
Who Can Get the Canada Child Benefit?
To be eligible for the CCB, you need to meet a few requirements:
- You must live with and be the main caregiver for a child under 18 years old.
- You must be a resident of Canada for tax purposes and have Canadian citizenship, permanent residency, or other specific qualifications.
- You cannot receive CCB for a foster child if they are already getting Children’s Special Allowances (CSA).
- You must be registered or be entitled to be registered under the Indian Act.
- You may also qualify if you care for a child under a kinship or close relationship program, as long as they are not receiving CSA.
How Much Money Can I Get from the CCB?
The amount of money you receive through the CCB depends on your adjusted family net income. This is a figure on your tax return that shows your total income minus certain adjustments.
Here’s a breakdown of the maximum amounts you can get (as of July 2024):
- If your adjusted family net income is below $36,502, you’ll get the most money for each child, and the amount won’t be reduced. In this case, you can receive:
- $7,787 per year (which is $684.91 per month) for children under 6 years old.
- $6,570 per year (which is $547.50 per month) for children aged 6 to 17 years old.
When are the CCB Payments Issued?
The next CCB payment is scheduled for July 19, 2024. Here are the upcoming payment dates after that:
- August 20, 2024
- September 20, 2024
- October 18, 2024
- November 20, 2024
- December 13, 2024
How to Apply for the CCB
If you think you might be eligible for the CCB, you can apply through the CRA website or by calling them at 1-800-327-7061. You can also apply when you file your taxes.
Remember:
- The CCB is tax-free, so you don’t have to pay taxes on the money you receive.
- Applying for the CCB is quick and easy.
- Getting this benefit can make a big difference in your family’s budget.
Is there anything else I need to know?
The information above should give you a good starting point on the Canada Child Benefit. Here are some additional resources that you might find helpful:
- The Canada Revenue Agency website: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview.html
- Information about how to apply for the CCB: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-apply.html
We hope this information helps!