CANADIAN CHILD BENEFIT RECIPIENTS GETTING A RAISE

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(CANADA) โ€“ More money is going to be in the pockets of adults with children beginning next year, thanks to changes made to the Canadian Child Benefit (CCB).

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During a press conference in Markham, Ontario on Friday, Trudeau announced increases to the Canadian Child Benefit next year. The increase is designed to help keep up with the cost of living.

Trudeau said the increase is two years ahead of the planned schedule because of the strong economic growth Canada has been experiencing.

Single parents earning $35,000 while raising two children have receivedย more than $11,000 tax-free through the 2017 year, according to government sources.

That same family will get $600 more during the 2019-2020 benefit year.

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The government claims that half a million people were lifted out of poverty since the Canadian Child Benefit was implemented 2 years ago.

Next Years Rate

  • $6,496 per year ($541.33 per month) for each eligible child under the age of six
  • $5,481 per year ($456.75 per month) for each eligible child aged 6 to 17

They start to reduce the amount of CCB you get when your adjusted family net income (AFNI) is over $30,450. The reduction is calculated as follows:

  • families with one eligible child: the reduction is 7% of the amount of AFNI between $30,450 and $65,976, plus 3.2% of the amount of AFNI over $65,976
  • families with two eligible children: the reduction is 13.5% of the amount of AFNI between $30,450 and $65,976, plus 5.7% of the amount of AFNI over $65,976
  • families with three eligible children: the reduction is 19% of the amount of AFNI between $30,450 and $65,976, plus 8% of the amount of AFNI over $65,976
  • families with four or more eligible children: the reduction is 23% of the amount of AFNI between $30,450 and $65,976, plus 9.5% of the amount of AFNI over $65,976
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