Eligible Canadian families with children under the age of six can expect to receive a little bit more money from the Canada Child Benefit (CCB) in 2021.
On Wednesday, May 12, it was announced that the additional CCB young child supplement (CCBYCS) will be paid out later this month.
The extra cash, which is up to $1,200 per child under the age of six, aims to help with the "unpredictable expenses of the COVID-19 pandemic," including child care, meals, clothes and at-home activities.
Families already receiving the CCB don't need to take any action to get the additional benefit. That said, they must file their 2019 and 2020 tax returns to access the payments. Those who haven't yet filed can still qualify for the CCB and the CCBYCS by completing their returns ASAP.
Eligible families with a net income of $120,000 or less will receive four $300 payments for each child under the age of six, starting with two payments on May 28, 2021.
The final two payments will be distributed on July 30 and October 29, 2021.
In a press release, the Canada Revenue Agency (CRA) said the CCBYCS is expected to benefit about 1.6 million Canadian families and about 2.1 million children under the age of six.
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