New Canada Child Benefit to support millions of familiesFirst payments starting July 20, 2016Regina-Wascana Member of Parliament Ralph Goodale says the federal government will begin distributing its new “Canada Child Benefit” payments in the third week of July. He made that announcement today on behalf of Families, Children And Social Development Minister, Jean-Yves Duclos.Promised in last year’s election and funded in the March 2016 Budget, the Canada Child Benefit (CCB) is the largest innovation in federal social policy in a generation. It replaces a confusing hodge-podge of previous family support programs, and is substantially more generous.Here’s how the Canada Child Benefit is different from the programs in place up until now:
- It’s simpler – families will receive a single payment every month.
- It’s tax-free – families will not have to pay back any portion of the amounts they receive when they file their tax returns.
- It’s better targeted toward those who need the most help – low and middle-income families will receive bigger benefits.
- It’s more generous – on average, annual CCB benefits per family will be almost $2300 higher than all the previous programs combined.Nine out of ten Canadian families will receive more in child benefits than under the previous system. Families with less than $30,000 in net income will receive the maximum benefit. That maximum annually will be up to $6400 per child under the age of six, and up to $5400 per child between the ages of 6 and 17. The new CCB is expected to lift some 300,000 children out of poverty.Quote“The Government of Canada is helping middle-class families with the high cost of raising their children. With nine out of ten families getting bigger CCB payments, they will have more disposable income to invest in their children’s future. Along with our middle-class tax cut and the pension improvements we’re making in the OAS, GIS and CPP, the new CCB will contribute to more economic growth and less inequality.”– The Honourable Ralph Goodale, Minister of Public Safety CanadaAssociated Links