Here is an explanation of the Canada Child Benefit (CCB) and the recent increase in payments:
The Canada Child Benefit (CCB) is a tax-free monthly payment made by the Canadian government to eligible families with children under the age of 18. The amount of the CCB payment is based on the family’s net income and the number of children they have.
On July 1, 2023, the CCB payments increased by 4.5%. This means that families will receive an additional $21 per month for each child under the age of 6 and an additional $16 per month for each child aged 6 to 17.
The CCB increase is part of the federal government’s commitment to supporting families with the cost of raising children. The government estimates that the increase will benefit over 7 million families across Canada.