Here's Everything You Need To Know About Canada's Child Benefit & How Much You Can Get
The CCB young child supplement has been scrapped for 2022.👇💰
If you've ever wondered about the Canada Child Benefit (CCB) and what it offers, we've got you covered.
From who qualifies and how much you can get, to the Canada Child Benefit young child supplement (CCBYCS) and what's happening with it in 2022, here's what you need to know:
The #CanadaChildBenefit was issued today!\n\nDidn\u2019t get your payment? It can take up to 10 business days to arrive. Check the status of your payment in My Account or the MyBenefits CRA mobile app: https://ow.ly/Aj6T50HVMm2\u00a0 #CdnTaxpic.twitter.com/can2sOyGMf— Canada Revenue Agency (@Canada Revenue Agency) 1645206002
What is the Canada Child Benefit (CCB)?
The CCB is a tax-free 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 — which pays out monthly — 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 and be either a Canadian citizen, a permanent resident, a protected person, a temporary resident or a person registered under the Indian Act.
"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.
Information about how and when to apply can be found online.
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 six.
The extra cash, which is up to $1,200 per child, intended 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 received four $300 payments for each child younger than six, while eligible families with a net income of over $120,000 received $150 per child.
The first two payments were distributed on May 28, 2021, with the final two paid out on July 30 and October 29, 2021.
In January 2022, a spokesperson for the CRA told Narcity that the CCBYCS was only a temporary initiative and thus would not be carried into 2022.
"However, if for any valid reason a taxpayer was not issued a payment for one of the previous noted periods, and it is determined that they are entitled, a retroactive payment will be issued in 2022," the agency confirmed.
This article's cover image was used for illustrative purposes only.
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