The Government of Canada has increased the monthly benefits of the Canada Child Benefit (CCB) plan, which began in July 2024. Families across the country are now receiving these enhanced payments. If you’re looking to receive the Canada Child Benefit Payment for September 2024, this article will provide you with essential information about the increased benefits and the eligibility criteria.
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Canada Child Benefit Payment 2024 Increased
The Canada Child Benefit is a tax-free monthly payment designed to assist eligible families with the costs of raising children under 18 years old. The amount you receive varies based on your income and the number of children in your care.
The CCB has significantly contributed to reducing child poverty in Canada, with the overall poverty rate decreasing by half between 2015 and 2021. However, despite recent increases, the maximum benefit still falls short of covering typical living costs, especially in urban areas.
Canada Child Benefit Payment September 2024— How Much More Could You Get?
For the 2024-2025 benefit year, the CCB has seen a substantial increase:
- Children under 6: Maximum annual benefit increased by $350 to $7,787, equating to $648.91 per month.
- Children aged 6 to 17: Maximum annual benefit increased by $295 to $6,570.
These increases aim to help families manage expenses such as food, clothing, and childcare.
Factors Affecting CCB Payment
Several factors determine the amount of your CCB payment:
- Number of children: More children generally mean higher benefits.
- Age of children: Different rates apply for children under 6 versus those aged 6-17.
- Family net income: Payments decrease as family income increases.
- Family size: Larger families may receive more support.
- Child eligibility: Children must be under 18, live with the claimant, and meet citizenship requirements.
- Residency: Claimants must reside in Canada and file taxes.
- Income tax returns: Payment amounts are based on the prior year’s tax return.
- Inflation: Benefits adjust annually to keep pace with living costs.
Eligibility Criteria for Canada Child Benefit
To qualify for the Canada Child Benefit, you must meet the following criteria:
- You must be a parent or guardian of a child under 18 living in Canada.
- You must have filed your 2023 taxes.
- Only the parent who primarily cares for the child can receive the benefit.
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Payment Dates for Canada Child Benefit September 2024
The Canada Revenue Agency issues payments between the 17th and 20th of each month. Therefore, for September 2024, payments will be released within this timeframe.