Canada Child Benefit Is Getting Another Boost & Families Can Get Up To $6,833 Per Year

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Canada Child Benefit Is Getting Another Boost & Families Can Get Up ...

The federal government has announced that the Canada Child Benefit (CCB) is getting another boost, taking the maximum annual benefit up to $6,833 per child under the age of 6.

The increase — announced on July 20 — means families with kids aged between 6 and 17 will be able to claim a maximum of $5,765 per child in 2021.

Those with a child under 6 will be eligible to claim a little more, up to a maximum of $6,833.

Sharing the update, Canada's minister of families and children announced that this works out to be over $350 more per child than when the CCB was launched five years ago.

The purpose of the tax-free monthly payment is to provide "increased support for those who need it most, to help with the cost of raising children under 18." The boost has been added to "keep up with the rising cost of living."

The amount on offer via the benefit varies on a case-by-case basis, as it's based on the applicant's income.

Canadians who are eligible for the CCB can also claim the temporary CCB young child supplement (CCBYCS) in 2021, which pays out up to $1,200 per child under 6 years old.

Those who have filed their 2019 and 2020 taxes and who already receive the CCB do not need to take any additional action to receive the CCBYCS.

* This article's cover image is for illustrative purposes only.

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