The Canada Child Benefit goes out on Monday and gets a small increase
The Canada Child Benefit (CCB) is increasing by two percent this month to help families manage inflation. Eligible households will receive higher monthly payments based on their adjusted net income and the age of their children.
Why it matters
This adjustment provides direct financial relief to Canadian families struggling with the rising cost of living and inflation.
Benefit payments will be issued on Monday for the Canada Child Benefit , and households that qualify will see a bit more money this time as part of an annual increase.
The Canada Child Benefit (CCB) is a tax-free monthly payment from the federal government aimed at helping eligible families with the cost of raising children under 18 years of age.
The CCB increases annually relative to inflation, and the benefit payment is going up by two per cent, according to the federal government.
“Starting this month, the CCB will provide families with up to $8,157 per child under the age of six and up to $6,883 per child aged six to 17. This represents an increase of up to $160 per child under age six and up to $135 per child aged six to 17 compared to the previous year,” the CRA said in a release on Friday.
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