Prime Minister Justin Trudeau has announced the Canada Child Benefit (CCB) has increased to keep up with the cost of living. The change comes two years ahead of schedule and will give parents more money each month to buy the things their families need. Indexation of the CCB will provide an additional $5.6 billion in support to Canadians and their families over the next five years. When the cost of everyday essentials, like groceries, goes up, families will receive more in benefits each month.
For the 2018-19 benefit year, the CCB will have a maximum annual benefit of $6,496 per child under six years old and $5,481 per child aged six to 17 years. On average, families will receive $6,800 a year, tax-free, to put healthy food on the table, pay for summer camp and buy new clothes for the upcoming school year.
“Since its introduction, the Canada Child Benefit has given much-needed relief to parents across the country who are working hard to make ends meet,” said Trudeau. “Starting today, Canadian families will receive even more money. We promised Canadians that we would index the CCB to inflation, and I’m proud we’ve delivered, two years earlier than expected.”
In 2017, a single parent earning $35,000 with two children received more than $11,000 tax-free through the CCB. Today, thanks to the accelerated indexation of the CCB, they will see that number go up by nearly $600 for the 2019-20 benefit year.
Photo: Markham Mayor Frank Scarpitti shows off newly-opened Aaniin Community Centre to Prime Minister Justin Trudeau during the July 20 Canada Child Benefit announcement.