The government of Canada began sending funds to Canadian families for the new Canada Child Benefit program last Wednesday.
It presents families in Saskatchewan and the rest of the country with non-taxable money, and replaces past programs such as the Universal Child Care Benefit. Families who are eligible for the program will receive a one-time payment; the government believes this new system will be simpler for familes compared to previous programs.
The system is based on the number of children under 18 years of age in a household, as well as net family income:
- Families with less than $30,000 per year will experience full benefits, adding up to approximately $530 per month for a child under six, and $450 per month for children six to 17.
- Total benefits for a child under six will reach up to $6,400, and up to $5,400 per child aged six through 17.
- Families with more than $30,000 per year will receive decreased amounts. The higher their total net income, the lower their benefit.
There is no application process necessary for families as well if they were already receiving money from the previous government child benefit programs (Universal Child Care Benefit, Canada Child Tax Benefit, National Child Benefit).
If parents/guardians are interested in finding out how much their families will be receiving, the federal government has made an online calculator available for those seeking an estimation for their benefits. Visit the page here: http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html