This 12 months’s recalculation implies that households might obtain an extra $350 per baby underneath 6, and $295 per baby aged 6 to 17, in comparison with the 2023–24 interval. For the 2024–25 profit 12 months, households most in want can obtain as much as $7,787 per baby underneath the age of 6 and $6,570 per baby aged 6 by means of 17, Employment and Social Development Canada introduced July 18. This represents a rise of 4.7% from the earlier 12 months.
What are the CCB cost dates?
CCB cost dates for 2024:
January 19, 2024February 20, 2024March 20, 2024April 19, 2024Could 17, 2024June 20, 2024July 19, 2024August 20, 2024September 20, 2024October 18, 2024- November 20, 2024
- December 13, 2024
CCB cost dates for 2025:
- January 20, 2025
- February 20, 2025
- March 20, 2025
- April 17, 2025
- Could 20, 2025
- June 20, 2025
- July 18, 2025
- August 20, 2025
- September 19, 2025
- October 20, 2025
- November 20, 2025
- December 12, 2025
In the event you don’t obtain a cost on the dates above, wait 5 enterprise days earlier than you contact the CRA for help, in accordance with its web site. However do comply with up: “A mother or father who might have been entitled to the CCB however was not registered should still be in luck,” says Heath. “You possibly can request retroactive cost of the profit going again as much as 10 years.”
What’s the CCB?
The Canada Baby Profit is a non-taxable month-to-month cost the CRA sends to eligible households with youngsters underneath age 18. It’s meant to assist low-income and middle-income households cowl child-rearing bills. The CCB was launched in 2016, and it has been listed to inflation since 2018.
CCB funds might embrace the Child Disability Benefit (CDB), and a few provinces and territories provide further help (for instance, the Ontario Child Benefit, or OCB).
“The Canada Baby Profit is supposed to not directly assist cowl the prices of elevating a household for folks whose incomes are under the relevant thresholds,” says Jason Heath, Licensed Monetary Planner at Goal Monetary Companions Inc. in Toronto, and MoneySense columnist. “The extra youngsters you will have, the upper your profit entitlement, and the upper the revenue means-testing restrict might be for you. Better of all, it’s a tax-free profit, so you don’t report the revenue in your tax return.”
How a lot is the Canada Baby Profit?
For the interval of July 2024 to June 2025, the utmost annual profit per baby underneath age 6 is $7,787 ($648.91 monthly), and the utmost annual profit for youngsters aged 6 to 17 is $6,570 ($547.50 monthly).
The whole quantity you’ll get for CCB funds relies on:
