The Canada Child Benefit (CCB), a tax-free monthly payment intended to assist parents in meeting the expenses of raising children, is sometimes referred to as a child tax benefit. Additionally, you might see an increase in the payment amount this month if your family receives the CCB. 

The amount that eligible Canadian families will get in CCB payments is recalculated by the Canada Revenue Agency (CRA) every July. This calculation is based on your adjusted family net income from the prior year, which for this year is 2023.

Based on data from the Consumer Price Index (CPI), the CCB is likewise adjusted to inflation. According to this year’s recalculation, families may get an extra $350 for each child under the age of six and $295 for each child between the ages of six and seventeen for the 2023–2024 year.

What is the CCB?

The CRA provides qualified families with children under the age of 18 with a non-taxable monthly payment known as the Canada Child Benefit. Its goal is to assist middle-class and low-income families in meeting the costs of raising children. Since its introduction in 2016, the CCB has been linked to inflation. The Child Disability Benefit (also known as the OCB) may be included in CCB payments, and many provinces and territories also provide further help.

What is the Canada Child Benefit’s amount?

The maximum annual benefit per kid under the age of six is $7,787 ($648.91 per month) for the July 2024–June 2025 period, and the maximum annual benefit per child aged six to seventeen is $6,570 ($547.50 per month).

Your overall CCB payment amount is determined by:

The quantity of eligible kids in your custody. Ages of your children (you get the CCB young child supplement if your child is younger than six).

Your net household income, adjusted.

Whether your kids qualify for the disability tax credit (DTC), which can help families get up to $3,322 for each qualifying child between July 2024 and June 2025.

Your 2023 adjusted family net income will be the maximum amount per child if it was less than $36,502 in 2023. CCB payments steadily decline above $36,502 as adjusted family net income rises. Utilize the CRA’s CCB calculator and sample computations available on their website to determine your eligibility for benefits.

You get half of what you would have gotten if you had full possession of the child if you split custody. The amount of the payout is determined by your family’s net adjusted income.

Eligibility for the CCB

You must reside with and be primarily responsible for the care and upbringing of at least one kid under the age of 18 in order to be eligible for CCB payments.

For taxation purposes, you also need to be a resident of Canada. You, your spouse, or your common-law partner also need to be one of the following:

1. a citizen of Canada An individual who is registered

2. or entitled to be registered, under the Indian Act is a permanent resident,

3. a protected person

4. a temporary resident who has lived in Canada for the preceding 18 months and has a valid permit in the 19th month

5. excluding one that states “does not confer status” or “does not confer temporary resident status.”