Canada Child Benefit Payments Increased, New Payouts Arrive Ahead of School Year
The latest Canada Child Benefit (CCB) payments are being sent out to Canadian parents on Tuesday, following a routine increase in monthly amounts last month.
The CCB amounts were raised in July after an annual recalculation based on a family’s net income from the previous year and inflation. The federal government stated the increase was “to help parents keep up with the cost of living.”
Employment and Social Development Canada noted the extra money is tax-free and meant to assist with everyday expenses like groceries, rent, and summer camps.
Eligible families with children under 18 years old residing in Canada receive the CCB. In August, parents could receive up to $648.91 per child under six, and $547.50 for children aged six to 17—both reflecting a 4.7% increase from 2023.
The payments are determined by the adjusted family net income (AFNI), the number of children, and their ages, with families earning under $36,502 annually receiving the maximum amount. Payments gradually decrease for those with an AFNI over this threshold.
To qualify, a person must reside in Canada with a child under 18 years old and be the primary caregiver. CCB payments can also apply to foster children if children’s special allowances (CSA) are not payable in a given month.
Benefits are deposited directly into bank accounts or sent by cheque and arrive just ahead of the new school year.
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