Next payment for the Canada Child Benefit will land in bank accounts this week
A family walks through a trail outdoors. (Medine Dilek Kizmaz/Pexels)
Families can expect the next Canada Child Benefit (CCB) payment in their pockets on Tuesday, according to the Canada Revenue Agency.
The Canada Child Benefit is a tax-free payment made to eligible families to help with the cost of living when raising children under 18. For most who qualify, it's paid out monthly.
Following this week's payout, the payments are expected again on Sept. 20, Oct. 18, Nov. 20 and Dec. 13.
The CRA says that families who qualify for the benefit will not receive a monthly payment if their total amount for the year is less than $240. One lump sum payment with the July instalment would have been received instead.
In order to qualify for the CCB each month, families must live with a child under 18, be primarily responsible for the care of the child and be a resident of Canada. The CRA outlines on its website various conditions for citizenship status that individuals or their spouses or common-law partners must meet.
An increase in the CCB earlier this year means eligible families could be pocketing more.
Before, families received up to $7,437 for each child under six years old per year, and up to $6,275 per child aged six through 17.
But as of July, families can expect to receive larger monthly payments for a total of up to $7,787 per year for the 2024 to 2025 benefit year. Families with children between six and 17 could receive a maximum annual total of $6,570 per child.
The actual amount a person or family receives depends on factors including shared custody, related provincial and territorial benefits and whether the child or children have a disability.
Parents and caregivers can use the CRA’s child and family benefits calculator to get an estimate of the amount they're entitled to.
With files from CTVNewsToronto.ca's Alex Arsenych
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