The Canada Child Benefit Is Going Up & Could Now Give $7K/Year To Eligible Families

Quebec families could see a financial boost from the Canada Child Benefit (CCB) with increasing payouts in 2022 to match rising inflation. The tax-free monthly amounts help eligible households with the cost of raising a child under 18 years old. Prime Minister Justin Trudeau tweeted a video message reminding parents that CCB payment increases were taking effect on Wednesday.

The amount paid out by the CCB is adjusted based on the number of children in a family's care, their age(s), the marital status of the parent(s) or guardian(s), and the adjusted family net income (AFNI) reported in the prior year's tax return.

Any family with an AFNI under $32,797 gets the maximum amount for each child. That comes to $6,997 per year ($583.08 per month) for each child under 6 years old and $5,903 per year ($491.91 per month) for each child 6 to 17 years old. Monthly payments gradually decrease when a family's AFNI is over $32,797.

Trudeau reminds viewers that CCB deposits can cover "whatever your growing family needs," including food, clothing and after-school activities.

Payments are recalculated in July, so eligible families should see their latest CCB payment reflect a higher rate.

To apply for the benefit, parents and primary caregivers can contact the CRA via mail or register online through the My Account portal.

To be eligible, applicants must be living with and caring for a child who is younger than 18 years old and be a Canadian resident, a protected person, an eligible temporary resident or an individual who is registered (or entitled to be registered) under the Indian Act or have a partner who is a Canadian citizen.

Initial CCB payments can take up to 11 weeks to receive, depending on the date of application.