In November 2020, the federal government announced that the Canada Child Benefit (CCB) would be getting a boost in 2021 to help families amid the COVID-19 pandemic.

This means that eligible Canadian families with children under the age of 6 can expect to receive up to $1,200 more from the CCB this year, with the first payment set to be paid out in May 2021.

If you think you may be eligible for the benefit and want to know how much you could qualify for, here's everything you need to know.

What is the Canada Child Benefit (CCB)?

The CCB is a benefit administered by the Canada Revenue Agency (CRA) that aims to support eligible Canadian families with the cost of raising children under 18 years old.

The CCB can include the child disability benefit and any related provincial and territorial programs.

Who can apply for it?

To qualify for the benefit, the claimant must live with a child under the age of 18 and be primarily responsible for their care and upbringing.

Applicants must also be a resident of Canada for tax purposes.

"You cannot get the Canada child benefit (CCB) for a foster child for any month in which Children's special allowances (CSA) are payable," explains the Government of Canada's eligibility guidelines.

How much can you get?

The amount on offer via the CCB varies depending on an individual's circumstances.

Every July, the benefit payment amount is calculated based on each family's net income from the previous year.

Parents with shared custody will get 50% of the amount they'd get if they had full custody of the child, calculated based on their own adjusted net income.

The CRA will not split the amount using any other percentages, regardless of each family's custody arrangement.

What about the CCB Young Child Supplement (CCBYCS)?

In November 2020, the federal government announced that the CCB would be boosted in 2021 for those with children under the age of 6.

The extra cash, which is up to $1,200 per child, intends to help with the "unpredictable expenses of the COVID-19 pandemic," including child care, meals, clothes and at-home activities.

Eligible families with a net income of $120,000 or less will receive four $300 payments for each child younger than 6, while eligible families with a net income of over $120,000 will receive $150 per child.

The first two payments will be distributed on May 28, 2021.

The final two payments will be paid out on July 30 and October 29, 2021.