Here's When To Expect Your Final Canada Child Benefit Payment Of 2022 & What You Can Spend It On
Eligible parents will get up to $583 per child this December.👇💰
Justin Trudeau and Chrystia Freeland take a selfie. Right: Canadian money.
With the holidays just around the corner, many Canadian parents may be wondering when to expect their final boosted Canada Child Benefit payments before Christmas.
The Canada Child Benefit – sometimes referred to as the Canadian Child Benefit – was given a boost in July to give eligible families more support with the cost of raising children.
The increase means qualifying families with children under 6 can now get almost $7,000 from the federal government throughout the year, while those with children aged between 6 and 17 can get $5,903 annually.
The final payment of this year will be issued by the Canada Revenue Agency (CRA) to qualifying families on Tuesday, December 13.
It means, on this date, eligible families with children under 6 can expect to be paid $583.08, and those with children aged 6 to 7 will receive $491.91.
While the CCB payment dates are usually on or around the 20th of each month (depending on where the weekend falls), the benefit will be issued earlier in December to account for the holiday period.
\u201cRaising children under 18? \n\nYou may be entitled to receive the Canada child benefit. More details on eligibility and how to apply for this tax-free monthly payment \u27a1\ufe0f\nhttps://t.co/QpqaBtXAeH #CdnTax\u201d— Canada Revenue Agency (@Canada Revenue Agency) 1648914602
Although parents should expect their money to be paid out on December 13, there could be delays. The CRA continues to urge claimants to wait five working days before contacting them about delayed payments.
With the money set to come in just before the holidays, some parents or caregivers may be wondering what exactly they are permitted to spend the benefit on.
Although there are no specific rules on how to spend the money, the feds have advised using it to "help with everyday expenses like school supplies, new clothes and after-school activities."
Justin Trudeau has also previously recommended using the tax-free monthly payment for food, post-school activities, clothing or "whatever your growing family needs."
Essentially, it's up to individual families to decide how and what to spend the benefit on.
This could include food for the holidays, supportive child care during the festive period, toys and games, sports equipment, books, learning tools, clothing or shoes, for example.
How much is the Canada Child Benefit?
The exact amount an eligible family can get via the Canada Child Benefit varies, depending on factors like the number of children in the household, the children's ages and the family's adjusted net income (AFNI).
Eligible families with an AFNI under $32,797, for example, will qualify for the maximum amount available for each child in their care.
This would work out to be $6,997 per year ($583.08 per month) for children aged 5 and under, and $5,903 per year ($491.91 per month) for children aged between 6 and 17.
The amount available begins to gradually decrease as a family's AFNI rises above $32,797.
An online calculator on the government's website can help parents and caregivers to work out exactly how much they're owed.
The benefit payment is recalculated every July, based on the AFNI from the previous year.
The CCB is indexed to inflation, so payments may also be increased year over year.
Is the Canada Child Benefit paid every month?
Yes, most families will receive Canada Child Benefit payments monthly from the CRA.
However, families who are owed $240 or less in CCB payments for the whole year will only receive one lump sum payment. This is distributed in July.
The CRA says the best way to ensure the CCB is paid on time into your account is to sign up online for direct deposit.
Does everyone receive the Canada Child Benefit?
No, only parents and caregivers who meet the federal government's eligibility criteria can qualify for the CCB.
For example, claimants must be living with a child who is under 18, be primarily responsible for their care and be a resident of Canada for tax purposes.
The full eligibility criteria can be found online.
What are the Canada Child Benefit payment dates?
In 2022, payments were made July 20, August 19, September 20, October 20 and November 18.
The final CCB of the year is expected to arrive in bank accounts on Tuesday, December 13.
The CRA says that sometimes payments can take several days to arrive in parents' accounts, so to hold off on contacting them unless the benefit is at least five working days late.
In 2023, payment dates are expected to be around the 20th of each month, with slight variations depending on where weekends and statutory holidays fall.
This article's cover image was used for illustrative purposes only.