Helping hard-working middle class families provide the best start in life for their children is a top priority for the Government of Canada. That’s why two years ago, the government launched the Canada Child Benefit (CCB) to help families with the high cost of raising kids. The CCB – which is targeted to middle class families and those working hard to join it – has helped nearly 3.7 million families with a monthly, tax-free payment of over $23 billion in benefits during the 2017-2018 benefit year. (CRA; July 19, 2018)
"On this second anniversary of the Canada Child Benefit, we are celebrating the real difference it is making in the lives of millions of Canadian families. Our Government’s strengthening of the Canada Child Benefit will continue to help those who need it most. We will continue to make it easier for Canadians to access the benefits to which they are entitled.”
-The Honourable Diane Lebouthillier, Minister of National Revenue
The benefit implementation is 2 years earlier then scheduled giving more funds for families to provide for their children. The CRA is making it easier then ever to apply. Make sure to file your taxes, this is the gateway into receiving these great benefits!
Since October 2016, the CRA issued over 560,000 letters to taxpayers who have not filed income tax and benefit returns and may be entitled to benefits and/or credits. As a result, the CRA issued over $19.4 million in tax refunds and $59.7 million in benefit payments. A similar campaign is scheduled for the fall of 2018. (CRA; July 19, 2018)
For the 2018-19 benefit year, the CCB will now have a maximum annual benefit of $6,496 per child under age 6 and $5,481 per child age 6 through 17 years. On average, families benefitting from the CCB will receive about $6,800 per year, tax-free.
Canadian families are diverse and their needs vary. Whether it is single parents taking care of their children, grandparents stepping in to fill the gap, or middle-income families struggling to pay for child-care, the CCB has proven to be a game changer, by giving more money to nine out of 10 Canadian families. Even more importantly, the CCB has helped lift more than half a million people—including 300,000 children—out of poverty. (CRA; July 19, 2018)
Check out the Canada Revenue Agency Website for more information.