Good news, Canadian parents: the Canada Child Benefit (CCB) is increasing, and you will soon receive a bigger maximum child tax payment than you're...
Good news, Canadian parents: the Canada Child Benefit is increasing, and you will soon receive a bigger maximum child tax payment than you're getting right now.
"Both the maximum benefits and the income thresholds are indexed annually based on the Consumer Price Index ." Last year, the government increased the maximum annual Canada Child Benefit payment per kid under six to $7,437. The amount per child aged six through 17 also increased from $5,903 to $6,275 — an extra $372 a year.The ESDC explained that it plans to increase the child tax payment by 4.7 per cent. This means the maximum benefit for a child under six will increase by $350, from $7,437 to $7,787. For kids aged six to 17, it'll increase by $295, from $6,275 to $6,570.
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