6 d. ago
Canadian families can expect payout of hundreds of dollars this week
If you are eligible to receive child tax payments from the Canada Revenue Agency (CRA), check your account on Thursday.The third instalment of the Canada Child Benefit (CCB) payments is due on March 20.In July 2024, with the beginning of the new benefit year, the government of Canada increased child tax payments by 4.7 per cent. Under this, the maximum benefit for children under six grew from $7,437 to $7,787, and for kids aged six to 17, it increased from $6,275 to $6,570.Another boost to these deposits will come when the next benefit year begins in July 2025, but it won’t be as substantial as the last. The CRA says parents can anticipate a 2.7 per cent bump.On July 1, the annual base benefit for kids under six will increase from $7,787 to $7,997 ($666 monthly) and from $6,570 to $6,748 ($562 monthly) for kids aged six to 17 until June 2026.Starting at the same time, the annual child disability benefit (CDB) increases from $3,322 to $3,411. These amounts are tax-free.Provinci...
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