Good news, parents: Your bank account may be getting a boost on Friday. This month’s Canada Child Benefit (CCB) payments — intended to provide increased support to low- and middle-income families with children — will be arriving. The Canada Child Benefit, intended to provide increased support to low- and middle-income families with children, is going out on Friday. As much as $648 could be hitting your bank account this Friday.
The benefit is lauded by some experts for reducing poverty — and specifically child poverty — across the country. According to data released last year by Employment and Social Development Canada, the country’s overall poverty rate was halved between 2015 and 2021.
However, the maximum monthly CCB payment still covers only a fraction of the average Toronto rent, not to mention the heightened cost of living since the last release of poverty data.
Here’s what you need to know about how much you can get from CCB payments and other benefits — and how to apply.
CCB Payment Amounts and Eligibility
For October, the base amount for each child under six is $7,787 per year — which translates to a maximum monthly benefit of $648.91. For children between six and 17 years old, beneficiaries will receive up to $6,570 per child.
The amount you receive under the CCB is based on several factors, including the number of children in your care, their age and your marital status. It also depends on your adjusted family net income from last year’s tax return — if under $36,502, you will receive the maximum amount for each child.
Payments gradually decrease for those with a net income above that threshold. For example, a family with one child under six and an adjusted net income of $45,000 would receive $7,192.14 from the CCB, for the July 2024 to June 2025 period.
Parents with shared custody of their child or children will each get half of the benefit. Children eligible for the disability tax credit may also be eligible for an additional $3,322 per year (or $276.83 per month).
CCB Payment Schedule and Other Benefits
The benefit is recalculated and adjusted every July. The benefit Canadians receive from July 2024 to June 2025 will be based on their income from the previous year, 2023.
Ontario parents can also claim the Ontario Child Benefit, a tax-free, monthly payment delivered by the provincial government. Eligible parents can get up to $140 per month.
When you apply for the CCB, you are automatically assessed for the Ontario Child Benefit, according to the province’s website.
The CCB is generally paid between the 17th and 20th of each month, except in December, when the benefit is issued on Dec. 13. Next month’s payment date is scheduled for Nov. 20.
However, if your annual benefit amount is less than $240, you will only receive a lump-sum payment in July instead of monthly installments.
How to Apply for the CCB
You can apply for the CCB one of three ways: through birth registration, online through your personal Canada Revenue Agency account or by mail.
If you’re applying when registering the birth of your newborn, you’ll need to consent and provide your social insurance number.
If applying online, you can go through your CRA account online on the benefits page, and processing times take about eight weeks. If applying by mail, the form can be found online and sent to a tax centre — payments will be delivered within 11 weeks.
How to Make Ends Meet: Additional Support Options
Still struggling to make ends meet? Here’s how to apply for Ontario Works and Employment Insurance.
Keep an Eye on Your Bank Account
The Canada Child Benefit is a valuable resource for families across Canada. With a bit of planning and preparation, you can ensure you are receiving all the support you are eligible for. If you are unsure about your eligibility, or you have any questions about the program, don’t hesitate to contact the Canada Revenue Agency for assistance.
