Market Overview

Over 50,000 Families in London Now Receive the Bigger Canada Child Benefit

Share:

Over 50,000 Families in London Now Receive the Bigger Canada Child Benefit

Canada NewsWire

Canada Child Benefit increased two years ahead of schedule 

LONDON, ON, Aug. 28, 2018 /CNW/ - Helping hard-working middle-class families provide the best start in life for their children is a top priority for the Government of Canada. That is why two years ago the Government launched the Canada Child Benefit (CCB) to help families with the high cost of raising kids. The CCB—which is targeted to middle-class families and those working hard to join the middle class—is simpler, tax‑free and more generous than previous child benefit programs.

Today, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, announced that the CCB has been increased to keep up with the cost of living two years ahead of schedule. Indexed cheques are already out, giving parents even more money each month to help them provide for their children. With a new school year starting, CCB payments can help families pay for things like back-to-school clothes and classroom supplies.

Increasing the CCB sooner will ensure that it continues to play a vital role in supporting families. This means that for the 2018–19 benefit year, the CCB will now have a maximum annual benefit of $6,496 per child under age 6 and $5,481 per child age 6 through 17 years. On average, families benefitting from the CCB received $4,600 more over the last two years compared with 2015–16.

Thanks to the CCB, 9 out of 10 Canadian families have more money to help pay for things like healthy food, sports programs and music lessons. Even more importantly, the CCB has helped lift more than half a million people—including nearly 300,000 children—out of poverty in Canada.

Minister Duclos also took time to highlight the important work that teachers do to provide a positive learning environment for children.  In Budget 2016 the Government of Canada launched the Teacher and Early Childhood Educator School Supply Tax Benefit, a tax credit of up to $150 for expenses related to the purchase of teaching supplies.

Quote

"Increasing the Canada Child Benefit means more money for Canadian families here in London and across the country. Our government is committed to ensuring that this tax-free benefit continues to help the middle class and people who are working hard to join it."
– The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Member of Parliament for Québec

"On this second anniversary of the Canada Child Benefit, we are celebrating the real difference it is making in the lives of millions of Canadian families. Our government's strengthening of the Canada Child Benefit will continue to help those who need it most. We will continue to make it easier for Canadians to access the benefits to which they are entitled."
– The Honourable Diane Lebouthillier, Minister of National Revenue and Member of Parliament for Gaspésie – Les îles-de-la-Madeleine

Quick Facts

  • Across Canada, CCB payments worth over $23.3 billion benefit nearly 3.7 million Canadian families.
  • Almost 1.5 million families in Ontario received approximately $8.9 billion from the CCB in the 2017-18 benefit year.
  • The CCB has helped lift more than half a million people—including 300,000 children—out of poverty.
  • Thanks to the CCB, 9 out of 10 Canadian families have more money to help pay for things that give children a good start in life, such as books, hockey lessons or new clothes for the upcoming school year.
  • The CCB will now have a maximum annual benefit of $6,496 per child under age 6 and $5,481 per child age 6 through 17 years.
  • As an example, for a single parent earning $35,000 with two children, the accelerated indexation of the CCB will contribute nearly $600 towards the increasing costs of raising his or her children for the 2019–20 benefit year.
  • The CCB has been recognized by the International Fund, the Bank of Canada and other experts as a key contributor to helping strengthen Canada's middle class.

Associated Links

Canada Child Benefit 
Canada Child Benefit Overview 
Canada Child Benefit Calculator 

Follow us on Twitter 

 

SOURCE Employment and Social Development Canada

View original content: http://www.newswire.ca/en/releases/archive/August2018/28/c4006.html

View Comments and Join the Discussion!