With the Canada Child Benefit, many Canadian middle-class families will receive more than what they are receiving under the current child benefit programs.
Under the new CCB, families will receive a single payment every month that is tax free. The maximum annual benefit per child under the age of 6 will be ,400, or 3.33 per month. The maximum annual benefit per child ages 6 to 17 will be ,400, or 0 per month.
The Child Disability Benefit will be continued under the CCB, and will provide a maximum annual benefit of ,730 per child under 18 years old.
Overall, families with a net income below 0,000 will stand to benefit from the new Canada Child Benefit. As an example, a family of four with a net income of 0,000 and children ages 4 and 7 would have received total benefits of ,901 between UCCB and CCTB. For July 2016 to June 2017, they will receive ,940 under CCB, which is an after-tax increase of ,039.
According to Profile’s calculation of CCB benefit, or the CRA’s CCB calculator, families with a net income below 0,000 will see an average increase in benefits of ,300 per year.