Starting January 2025, families in Prince Edward Island will receive additional financial support to ease the cost of raising children through the new PEI Child Benefit (PEICB). Eligible families will get up to $360 per child annually, an initiative aimed at making essentials like groceries and clothing more affordable.
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A Significant Investment in PEI’s Children
“This benefit represents an annual investment of nearly $5 million into PEI children. It will provide families with financial support to assist with the costs of everyday essentials, like groceries and clothes,” stated Social Development and Seniors Minister Barb Ramsay.
The PEICB, announced in the 2024 provincial budget, is designed to complement the Canada Child Benefit (CCB) and will be delivered alongside it. The first payment is scheduled for January 20, 2025.
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Who Qualifies and How Much Will You Receive?
The PEICB offers monthly payments to low- and medium-income families, calculated based on family net income:
- Families earning less than $45,000 annually will receive $30 per month per child.
- Families earning between $45,000 and $80,000 annually will receive $20 per month per child.
These payments are non-taxable, ensuring families can fully benefit from the extra support.
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Eligibility Criteria
To qualify for the PEICB, you must meet the following requirements:
- Residency: Be a resident of Prince Edward Island.
- Parent/Primary Caregiver: Have one or more children under the age of 18 living with you.
- Income: Have a family net income of $80,000 or less per year.
- Tax Filing: File an income tax return every year. If you have a spouse or common-law partner, they must also file an income tax return annually.
How to Receive the PEI Child Benefit
Good news—there’s no need to apply for the PEICB! Families already enrolled in the Canada Child Benefit (CCB) and meeting the eligibility criteria will automatically receive the PEICB payments.
The benefit will be administered by the Canada Revenue Agency (CRA) on behalf of the Government of Prince Edward Island, ensuring a seamless integration with the CCB system.
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A Step Toward Greater Financial Security
The PEI Child Benefit is a welcome initiative that underscores the government’s commitment to supporting Island families. With up to $360 per child annually, this program is set to make a meaningful difference in the lives of thousands of families across the province.
Mark your calendars for January 20, 2025, and get ready for the first payment of this impactful new benefit!
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