This year’s recalculation means families could get an extra $350 for each child under 6, and $295 for each child aged six to 17, compared to 2023–24. In the 2024–25 benefit year, needy families can receive up to $7,787 for each child under 6 and $6,570 for each child aged 6 to 17, Employment and Social Development Canada announced on July 18. representing a 4.7% increase over the previous year.
What are the payment dates for CCB?
These are the CCB payment dates for 2024:
January 19, 2024February 20, 2024March 20, 2024April 19, 2024May 17, 2024June 20, 2024July 19, 2024August 20, 2024September 20, 2024- October 18, 2024
- November 20, 2024
- December 13, 2024
If you do not receive payment by the above dates, wait five business days before contacting the CRA for assistance, according to its website. But follow up: “A parent who may be entitled to CCB but is not registered may be in luck,” Heath says. “You can ask for the repayment of the benefit going back 10 years.”
What is CCB?
The Canada Child Benefit is a tax-free monthly payment that the CRA sends to eligible families with children under the age of 18. It is intended to help low-income and low-income families pay for the cost of raising children. The CCB was introduced in 2016, and has been indexed to inflation since 2018.
CCB payments can include the Child Disability Benefit (CDB), and some provinces and territories offer additional benefits (for example, the Ontario Child Benefit, or OCB).
“The Canada Child Benefit is intended to help indirectly cover the cost of raising a family for parents who earn less than the appropriate amount,” said Jason Heath, Certified Financial Planner at Objective Financial Partners Inc. in Toronto, and a columnist for the MoneySense blog. “The more children you have, the higher your benefit entitlement will be, and the higher the test limit will be for you. Best of all, it’s a tax-free benefit, so you don’t report the income on your tax return.”
How much is Canada Child Benefit?
For the period July 2024 to June 2025, the maximum annual benefit for each child under the age of 6 is $7,787 ($648.91 per month), and the maximum annual benefit for children aged 6 to 17 is $6,570 ($547.50 per month).
The total amount you will receive from CCB payments depends on:
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