Strengthening the middle-class by putting more money in the pockets of Canadians

Increased Canada Child Benefit payments coming July 2019

OTTAWA, May 15, 2019 /CNW/ - Helping hard-working middle-class families provide the best start in life for their children is a top priority for the Government of Canada. That is why three years ago the Government launched the Canada Child Benefit (CCB) to help families with the high cost of raising kids.

In July 2018, the CCB was increased to keep up with the cost of living. This change came two years ahead of schedule to give parents even more money each month to help them provide for their children. The CCB?which is targeted to middle-class families and the people working hard to join the middle class?is simpler, tax?free and provides more money to 9 out of 10 families than previous child benefit programs.

Today, on International Day of Families, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development, announced that starting on July 20, 2019, the CCB will be raised once again to keep up with the cost of living. This means that for the 2019?20 benefit year, the maximum benefit will be $6,639 per child under age 6 and $5,602 per child aged 6 through 17.

As an example, a single parent with two children under the age of 6 and an income of $30,000 will receive an additional $286 for the upcoming benefit year to keep up with the cost of raising their children. This means up to $13,278 in support every year.

As another example, a child born today, over the course of 18 years, will receive $49,157 more than before the CCB - based on $50,000 family income.  The same family can also access an additional $1,547 thanks to the 5 extra weeks of Employment Insurance Benefits.  Thanks to these changes, a child born in 2019 will receive almost $51,000 more.

Thanks to the CCB, 9 out of 10 Canadian families have more money to help pay for things such as healthy food, sports programs and music lessons. Increasing the CCB will ensure that it continues to play a vital role in supporting families.

Quote

"The Canada Child Benefit has helped millions of middle-class Canadian families since its creation in 2016. Today's announcement means more money in the pockets of Canadians?up to $143 more than last year per child. Increasing the CCB once again demonstrates our government's commitment to ensuring that this tax-free benefit continues to help the middle class and the people working hard to join it."
? The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development

Quick Facts

• Across Canada, CCB payments worth $23.7 billion benefit nearly 3.7 million Canadians and their families.
  
• More than 1.3 million families in Ontario received nearly $9 billion from the CCB in the 2017?18 benefit year.
  
• The CCB has had a positive impact on families' incomes, playing a key role in reducing child poverty. There were 278,000 fewer children living in poverty in 2017 than there were in 2015.
• The Canada Child Benefit and new initiatives like the Canada Workers Benefit and the Canada Housing Benefit will continue to help the middle class and grow the economy by putting money in the pockets of Canadians.
• The CCB has been recognized by the International Monetary Fund, the Bank of Canada and other experts as a key contributor to helping strengthen Canada's middle class.
• Examples of the new indexation rates for the 2019-20 benefit year:
• A single-parent family with one child aged under the age of 6 and earning $25,000 will receive an additional $143 for the upcoming benefit year. Bringing their new yearly total to $6,639.
• A two-parent family with two children aged 4 and 9 and earning $55,000 will receive an additional $354 for the upcoming benefit year. Bringing their new yearly total to $9,017.
• A two-parent family with two children under the age of 6 and earning $90,000 will receive an additional $263 for the upcoming benefit year. Bringing their new yearly total to $7,090.

Associated Link

Canada Child Benefit

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SOURCE Employment and Social Development Canada