Canada Child Benefit. In Budget 2016, the Government of Canada is strengthening Canada’s middle class. It starts with more support for children.
Families struggle with the cost of raising children, and too many families worry about how to make ends meet.
That is why the Government of Canada is introducing the Canada Child Benefit to replace existing federal child benefits.
It will put more money in the pockets of middle class Canadian families every month.
It’ll also be simpler. If you already receive child benefits and file your taxes, there’s no need to apply. You’ll receive a notice in July to let you know if you qualify.
And now, it’s all tax-free. So when families file their tax returns there’s nothing to pay back.
The Canada Child Benefit is better targeted to those who need it most. Middle class families and those working hard to join it, will receive more money.
Here’s how. For those earning less than $30,000 with a child under six, you will receive the maximum benefit of $6,400. And for a child between 6 and 17 you’ll receive up to $5,400 a year. For each child.
Nine out of 10 Canadian families will benefit more.
Here’s another example. Take Chloe and Jade and their one year old daughter Jess.
Their family net income is $65,000. They will get $3,950 a year in benefits in one simple payment per month. Tax free.
All Canadians deserve an opportunity to develop to their full potential.
Because when you have an economy that works for the middle class, you have a country that works for everyone.
Find out how the Canada Child Benefit can help your family: http://www.esdc.gc.ca/en/canada_child_benefit.page?utm_source=esdc&utm_medium=youtube&utm_campaign=canadachildbenefit
Tags: Canada Child Benefit