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Canadian families with kids will get money from the government this week

The final Canada Child Benefit payments are scheduled to be deposited into bank accounts this Friday, ahead of an increase in July.Eligible families can expect to receive Canada Child Benefit (CCB) payments on June 20. This month's payment will be the last one before the scheduled increase in July, which marks the beginning of the new benefit year.The last time the federal government increased the child tax benefit was in July 2024 when payments went up by 4.7 per cent. As a result of the increase, the maximum payment for children under six increased by $350, from $7,437 to $7,787. For children aged six to 17, payments increased by $295, from $6,275 to $6,570.To help parents with the rising cost of living, Ottawa has been using a process called indexation to increase the benefit amounts since 2018.An Employment and Social Development Canada (ESDC) spokesperson explained that, due to the indexation process, tax child benefit payments, as well as income thresholds, increase every ...


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