The Government of Canada has introduced the new Canada Child Benefit (CCB) to replace the current system of child benefits. If you are already receiving monthly benefits you do not need to apply for the new Canada Child Benefit which begins in July 2016.
What is the new Child Care Benefit?
The new Canada Child Benefit will continue to be paid monthly (on the 20th) for those families with children under the ages of 18 years. The entire benefit is now tax-free.
How Much will I Receive?
The amount that you will be eligible to receive is based on family net income and the number of children in your family. The government estimates that 9 out of 10 families will receive more under this new system.
Starting July 1, 2016 you can receive up to:
- $6,400 per year ($533 per month) for each child under the age of 6
- $5,400 per year ($450 per month) for each child aged 6 to 17
- An additional $2,730 per year if your child qualifies for the disability amount
For an estimate of how much your CCB will be based on your family’s situation the CRA has provided a CCB Benefits Calculator on their website for your use.