On July 1st families with children under 18 began receiving the new Canada Child Benefit (CCB), a federal tax benefit
that is simpler, tax-free, more generous and better targeted than the previous system. The CCB provides a monthly payment totalling up to $6,400 a year per child under age 6 and up to $5,400 per child aged 6 through 17, and you
won’t have to pay any of it back when you file your annual tax returns! You can Google ‘Budget 2016 Child Tax Benefit Calculator’ to find out just how much your family’s CCB will be. If you haven’t received child benefits before and you have a child under 18, you must apply. Please contact my office for help. The CCB will help families with the high costs of raising their children. Under the new system, low and middle-income families will receive more, and those with the highest incomes (generally over $150,000) will receive less. Nine out of ten Canadian families will receive more generous payments than before, with an average yearly increase of almost $2,300; 300,000 Canadian children will be lifted above the poverty line by these monthly cheques. Investing in our shared future is not only compassionate, it helps the middle class, and Canadian society as a whole, to grow stronger.
