18 Things You Need To Know About The New Canada Child Benefit

July 21, 2016

  1. It was the first promise in the 2015 Liberal Platform.
     
  2. It’s simple, unlike a 3-person handshake.
  3. It’s non-taxable, so it won’t increase a family’s taxable income.
  4. It’s income-tested meaning it gives more to those who need it most and less to those who don’t.

  5. It’s paid on the 20th of every month,
  6. And it can be deposited via direct-deposit by signing up on the CRA website.
  7. The maximum benefit goes to families who make less than $30,000 a year.
  8. That’s $6,400 annually for children under 6,
  9. And $5,400 anually for kids 6-17.
  10. Families whose children qualify for the Disability tax credit can receive up to an additional $2,730 per eligible child as part of their CCB.
  11. It simplifies family finances with a single benefit that can be used for what’s needed.
  12. It’s automatic (meaning you don’t have to apply),
  13. And it’s bigger and more generous than before.

    via GIPHY

  14. It will help lift almost 300,000 kids out of poverty,
     

    Ranjit S. “Thank you Liberals, we see the positive this has made on single parents and low income families. We work with them on a regular basis serving them hot meals, clothes, personal hygiene products. Thank you Liberal Government.”

  15. And will give 9/10 families more money every month;
  16. That’s over 3 million families.

    Success! Today, families across Canada start receiving their tax-free, monthly Canada Child Benefit.

    A photo posted by Liberal Party of Canada (@liberalca) on

  17. Families who benefit will receive an average of $2,300 the first year.
  18. And to help pay for it, the government will stop sending cheques to millionaires.
     

Who’s excited?