PRIME Minister Justin Trudeau on Saturday announced that the Canada Child Benefit (CCB), which was introduced four years ago and has helped put more money in the pockets of nine out of 10 Canadian families, will be increased once again in July to help families keep up with the costs of living and raising their children.
This additional tax-free support will help families pay for things such as food, clothes, and activities they can do together at home. The increase will be in place for the 2020-21 benefit year, and will raise the maximum benefit to $6,765 per child under age 6, and $5,708 per child aged 6 through 17.
This increase is in addition to the one-time special CCB payment announced by Trudeau earlier this month to help families deal with the added pressures of COVID-19. On May 20, this special measure will give families currently receiving the CCB an additional $300 per child with their May payment, and deliver almost $2 billion in extra support across the country to help families during this challenging period.
Trudeau noted: “Raising children is expensive. That’s why we created the Canada Child Benefit, to help parents pay for what their families need. Whether it’s used for groceries, new clothes, or at home activities, this extra support will make things easier on them as they deal with regular everyday expenses and the extra challenges caused by COVID-19.”
Ahmed Hussen, Minister of Families, Children and Social Development, added: “We are putting more money in the pockets of Canadian families to help deal with the impacts of COVID-19 and the cost of raising their children. This increase to the CCB shows the Government’s commitment to ongoing support for families and the high value we put on investing in those who really need it most – our children.”
- In 2016, the Government of Canada introduced the CCB, a simpler, tax-free, and more generous child benefit better targeted to those who need it most.
- The CCB is a monthly payment made to eligible families to help with the cost of raising children under 18 years of age.
- Examples of payments for the 2020-21 benefit year:
- A single-parent family with one child under the age of 6 and earning $25,000 will receive an additional $126, bringing their new yearly total benefit to $6,765.
- A two-parent family with two children aged 4 and 9 and earning $55,000 will receive an additional $174, bringing their new yearly total benefit to $9,329.
- A two-parent family with two children under the age of 6 and earning $90,000 will receive an additional $136, bringing their new yearly total benefit to $7,322.