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Canadian families will now begin receiving the new child benefit payment, a central plank in the Liberal government election campaign.
Prime Minister Justin Trudeau made the announcement Wednesday morning saying the first payments have been handed out to families. According to the government, the Canada Child Benefit (CCB) will help nine out of 10 Canadian families and will replace the Canada Child Tax Benefit, the National Child Benefit Supplement and the Universal Child Care Benefit.
Eligible families will be issued the monthly payment and those who filed their income tax and benefit return in 2015 will automatically be eligible for the CCB. Parents of newborn children can apply for the CCB using the automated benefits application service.
According to the Liberals, with the CCB, families:
- will receive a single payment every month;
- will not have to pay taxes on CCB payments received when they file their tax returns;
- with low- and middle-incomes will receive more benefits, and those with the highest incomes (generally over $150,000) will receive lower benefits than under the previous system; and
- who are eligible will see an average increase in child benefits of almost $2,300 in the 2016-17 benefit year.
- the new CCB will provide a maximum annual benefit of up to $6,400 per child under the age of 6 and up to $5,400, per child, aged 6 through 17. Families with less than $30,000 in net income will receive the maximum benefit.
- Families whose children qualify for the Disability Tax Credit can receive an additional amount as part of their Canada Child Benefit, up to a maximum annual benefit of $2,730 per eligible child.
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