Canada Child Benefit $7800 Payment in 2024, Eligibility for the upcoming raise

Good news for Canadian parents: the Canada Child Benefit (CCB) is set to increase, providing families with a higher maximum child tax payment than currently available. The CCB is a tax-free monthly payment aimed at helping Canadian families with the costs of raising children. Recognizing the need to keep pace with the rising cost of living, the government has periodically adjusted the CCB amounts. The latest increase is effective from July 2024.

CCB Benefit Period and Indexation

The Canada Child Benefit (CCB) is a government program that provides financial assistance to families with children to help them with the expenses of raising their kids. The program follows a yearly cycle, starting from July 1 to June 30 of the following year. To keep up with the cost of living, CCB amounts are indexed annually since 2018.

This means that the maximum benefit amounts and the income thresholds at which benefits start to decrease are adjusted each year based on the Consumer Price Index (CPI). The objective is to offer increased support to parents each month, which reflects the current economic situation and helps them provide better care for their children.

Recent and Upcoming Canada Child Benefit Increases

CCB Payment Dates

The Canadian government has made significant changes to the Canada Child Benefit (CCB) payments that families with young children receive. In 2021, the maximum annual payment for children under the age of six was increased by $7,437, while for children aged six through 17, the amount was increased by $372 annually, reaching $6,275.

These adjustments were made to ensure that families have the necessary financial support to raise their children and meet their needs. Moreover, looking forward to July 2024, Employment and Social Development Canada (ESDC) has announced an additional 4.7% increase in child tax payments

This means that the maximum benefit for a child under six will rise by $350, from $7,437 to $7,787, and for children aged six to 17, it will increase by $295, from $6,275 to $6,570. These increases are aimed at further easing the financial burden on families with young children and will help to ensure that they have the necessary resources to provide for their children.

Eligibility Criteria for the Canada Child Benefit

  • Must be a Canadian resident for tax purposes, including citizens, permanent residents, protected persons, and temporary residents with 18 months of residency and a valid 19th-month permit.
  • The applicant needs to be the child’s primary caregiver, meaning the child lives with and is cared for by the applicant.
  • Single and two-parent families are eligible, including shared custody situations where both parents may receive partial payments.
  • Available for children under 18 living with and under the applicant’s primary care.
  • The CCB is based on the family’s net income, with benefits decreasing as income increases.

CCB Payment Schedule for 2024

The Canada Revenue Agency (CRA) schedules CCB payments on predetermined dates throughout the year. If your annual benefit is below $240, you won’t receive monthly payments but instead, a one-time payment in July. Here are the payment dates:

  • January: 19, 2024
  • February: 20, 2024
  • March: 20, 2024
  • April: 19, 2024
  • May: 17, 2024
  • June: 20, 2024
  • July: 19, 2024
  • August: 20, 2024
  • September: 20, 2024
  • October: 18, 2024
  • November: 20, 2024
  • December: 13, 2024

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