3 w. ago
Canadian families with kids will get some money from the government this week
Money is on its way to eligible Canadian families who will receive another monthly payment of the child tax benefit this week.The eighth instalment of the Canada Child Benefit (CCB) will be deposited on Wednesday, Aug. 20.The child tax payment increased in July, marking the beginning of the new benefit year. The federal government uses a process called indexation to raise the payment to help parents as the cost of living continues to soar.An Employment and Social Development Canada (ESDC) spokesperson said in January that the indexation means the max CCB amounts and income thresholds are increased yearly to "keep pace with the rising cost of living."This year, Canadian families were given a 2.7 per cent boost in child tax benefit payments, bringing the annual base benefit for children under six from $7,787 to $7,997 ($666 monthly) and from $6,570 to $6,748 ($562 monthly) for children aged six to 17 until June 2026.The Child Disability Benefit (CDB) also went up from $...
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