COVID-19: How Much Money Can You Expect From the Canada Child Benefit

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TORONTO –
The federal government will continue the annual increase to the Canada Child Benefit (CAC) program this summer, in addition to the one-time special payment from CEA announced earlier this month to help families cope with additional pressures. of COVID-19.

Prime Minister Justin Trudeau announced on Saturday that the BCC would increase again in July, noting that families are facing increased financial pressure in light of the pandemic.

“Each summer, over the past three years, we have strengthened the CCB to help track the cost of living. This summer will be no different, ”said Trudeau at his daily press conference in Ottawa.

“As the price of your errands goes up, so does the profit. “

The annual increase, designed to keep up with the rising cost of living, will bring the new maximum annual benefit to $ 6,765 per child under 6 and to $ 5,708 per child 6 to 17.

This means that a two-parent family with two children aged 4 and 9, earning $ 55,000 a year, will receive an additional $ 174, which will bring their new total annual benefit to $ 9,329.

The current ACE program started in 2016, providing families with a tax-free monthly payment to help raise children under the age of 18. This change marks the third time that the government has increased family allowances since its launch. Payments vary from family to family and are based on income and the number of children.

The Liberals also decided to increase monthly payments from ACE to parents during the pandemic. Following an April supplement, Trudeau announced earlier this month that parents would receive an additional $ 300 per child with their May CAC payment to help with additional pressures from COVID-19.

Anyone already registered for the service will automatically receive the top-up. Those who are not registered can request it here.

– With files from Rachel Aiello

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