Check your bank accounts, parents! The Canada Child Benefit (CCB) is set to make its next round of payments, offering a welcome financial boost to eligible families across the country.
The Canada Child Benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18. Managed by the Canada Revenue Agency (CRA), it's designed to offer crucial financial assistance to Canadian parents, ensuring children have the resources they need.
Here’s a complete guide on the Canada Child Benefit and the amount you can expect to receive in August.
What is the Canada Child Benefit? (CCB)
Introduced in July 2016 to replace the Universal Child Care Benefit, the Canada Child Benefit offers tax-free monthly payments to parents and caregivers to help cover the cost of raising children younger than 18.
There's an eligibility criteria for the benefit, which includes the applicant being a resident of Canada for tax purposes and either being (or their partner being) a Canadian citizen, permanent resident, protected person, eligible temporary resident or an individual who is registered or entitled to be registered under the Indian Act.
The applicant must also be living with and be the primary carer for a child who is under 18 years old.
How to get the Canada Child Benefit
Fortunately for new parents and caregivers, it's pretty easy to apply for the Canada Child Benefit.
Per official advice, eligible individuals should apply for the benefit as soon as any of the following situations happen:
- your child is born
- a child starts to live with you (or returns to live with you)
- you get custody of a child
- you begin, end, or change a shared custody arrangement
When you register the birth of your newborn — whether you do it online or on paper — the government says to ensure you provide your consent and social insurance number so that the birth registration information can be shared with the CRA.
Once it's been shared, you'll automatically be considered for the benefit.
Those who do not give their consent will have to apply for the CCB via mail or online through My Account.
To apply online, visit My Account and then go to "Apply for child benefits," following the instructions from there. To register via mail, parents and caregivers must fill out and sign Form RC66 and mail it to the nearest tax centre.
In some cases, applicants may be asked to provide additional documents.
How much can you get?
Exactly how much each family can get via the CCB varies, depending on several factors, including the number of children in the family, the age of the children, marital status and adjusted family net income (AFNI) from the previous year.
As of August 2024, qualifying applicants with with an AFNI under $36,502 can get the maximum amount available for each child, which is $7,787 per year ($648.91 per month) for children under 6, and $6,570 per year ($547.50 per month) for children aged between 6 and 17.
When a family's net income is over $36,502, CCB payments gradually start to decrease. Payments are recalculated each year in July, which means if your AFNI changed in 2023, the amount you get via the CCB may also change.
It's worth keeping in mind that in order to continue to receive CCB payments, you and your spouse or common-law partner must file a tax return on time every year — even if your income is tax exempt.
Canada Child Benefit calculator
If you're a little confused about how much you can expect to receive via the CCB, don't worry.
The government's online CCB calculator can help applicants to work out whether they qualify for the benefit and how much their payments could be.
Canada Child Benefit payment dates for 2024
- August 20, 2024
- September 20, 2024
- October 18, 2024
- November 20, 2024
- December 13, 2024
For full details about the Canada Child Benefit, you can visit the official Canada Revenue Agency page here.
This article's cover image was used for illustrative purposes only.
Canada Child Benefit payments go out soon — Here's how much you can get in August
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