Federal government officials say the Canada Child Benefit has been increased two years ahead of schedule to keep up with the cost of living.
The CCB is targeted at middle-class families and the people working hard to join it. It currently provides more money to 9 out of 10 families than previous child benefit programs.
Minister of Families, Children and Social Development Jean-Yves Duclos announced Wednesday that starting now, the CCB will be raised to keep up with the cost of living.
“Today’s announcement means that Canadian parents will have more money in their pockets—up to $143 more tax-free per child,” says Duclos.
Duclos says parents have told him how much this means when the family budget is already stretched, but their son has a growth spurt or their daughter’s day camp fees are due.
This means that for the 2019–20 benefit year, the maximum benefit will be $6,639 per child under age 6, and $5,602 per child aged six through 17.
“Parents have told me how much this means when the family budget is already stretched, but their son has a growth spurt or their daughter’s day camp fees are due,” says Duclos.
For example, a single mother with two children under the age of six and an income of $30,000 will receive an additional $286 tax-free for the upcoming benefit year.
This means up to $13,278 in support every year.
More than 1.3 million families in Ontario received nearly $9 billion from the CCB in the 2017–18 benefit year.
