The Canada Child Benefit (CCB) is an important program that helps families with children under 18 years old. As we head into 2024, there are some significant changes to the CCB that families should know about. This article will explain what’s changing and how it will affect you.
Current and Projected Changes
The CCB program started in 2016, replacing the Universal Child Care Benefit (UCCB). It provides tax-free financial support to help cover the costs of raising children. Families typically receive their payments on the 15th of each month.
Currently, families with children under 6 years old receive more money than those with children aged 6 to 17. The CCB amount increases each year to keep up with inflation. For example, families can expect an additional boost of about $500 annually for young children.
Projected Changes for 2024
Several changes to the CCB are expected in 2024:
- Benefit Amounts:
- Children under 6 years: CAD 619 per month.
- Children aged 7 and older: CAD 522 per month.
- Disability Benefit:
- Increased to CAD 3,173 annually, with monthly deposits of CAD 264.41.
- Young Child Supplement:
- Additional support for families with multiple children in foster care.
- Income Threshold Adjustments:
- Income limits for eligibility will be updated to reflect changes in inflation and cost of living.
Eligibility Criteria
To qualify for the CCB, both children and parents need to meet specific criteria:
For Children
Age: Must be under 18 years old.
Residency: Must be permanent residents of Canada.
Living Arrangement: Must live with the applicant for more than six months a year.
For Parents
Residency: Must be permanent residents of Canada. Immigrants need to have lived in Canada for at least 18 months.
Tax Compliance: Both parents must have filed their tax returns.
Custody: If parents share custody, at least one parent must be a permanent citizen.
Shared Custody
Equal Time Sharing: If a child spends equal time with both parents, the benefit is split equally.
Additional Support: Single parents, especially those in foster care, may receive extra help through the Young Child Supplement Benefit.
Payment Dates for 2024
Families will receive their CCB payments based on the previous year’s tax returns. Here’s a look at the payment dates for 2024:
Children under 6 years: Up to CAD 7,437 annually.
Children aged 7 years and older: Up to CAD 6,275 annually.
Monthly Deposit Dates
| Month | Date |
|---|---|
| January | 19th |
| February | 20th |
| March | 20th |
| April | 19th |
| May | 20th |
| June | 20th |
| July | 19th |
| August | 20th |
| September | 20th |
| October | 18th |
| November | 19th |
| December | 20th |
The Canada Child Benefit is a crucial support program for Canadian families. As we move into 2024, there are some important updates to benefit amounts and eligibility criteria. These changes aim to ensure that the CCB continues to provide valuable support to families, helping them manage the costs of raising children.
Keeping track of these updates will help families plan their budgets effectively and make the most of the financial aid available.
FAQs
When will the new CCB amounts take effect?
The new amounts will start with payments in January 2024.
How much will children under 6 receive monthly in 2024?
They will receive CAD 619 per month.
Are the CCB payments taxable?
No, CCB payments are tax-free.
What if my child is shared between parents?
The benefit will be split equally if the child spends equal time with both parents.
Where can I get more information on CCB changes?
Visit the official Canadian Government website for the most detailed and up-to-date information.
