Eligible families will get $300 per child under six. 💰
If you have a child under six years old and are already receiving the Canada Child Benefit (CCB), you can expect to get the latest young child supplement boost later this month.
The boost, referred to as the CCB young child supplement (CCBYCS), enables eligible families with young children to get an additional $1,200 per child from the feds in 2021.
Have a child under the age of six? If you’re receiving the Canada child benefit, you’ll automatically receive the C… https://t.co/DcdpsCw4kz— Canada Revenue Agency (@Canada Revenue Agency) 1625750404.0
The money is paid out in up to four tax-free installments throughout the year.
Canadians receiving the CCBYCS can expect to receive their third payment on July 30, 2021. If a child turns six at any time in July 2021, the benefit is still claimable for that month.
Claimants with a net income of $120,000 or less will receive $300 per child on July 30, while those with a net income above $120,000 will qualify for $150 per child.
The fourth and final installment is expected to be paid out in October 2021.
Those already receiving the standard CCB will be able to access the boost without applying for it or taking any specific action, although it only applies to families with children younger than six years old.
*This article's cover image is for illustrative purposes only.
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