The Canada Child Benefit is increasing again. Here’s how much you could get
The Canada Child Benefit is getting a small bump to keep up with the cost of living.
Employment Minister Jean-Yves Duclos announced on Monday that the benefit to parents with children under the age of 18 will increase on July 20, upping the maximum benefit to $6,639 for each child under the age of six and $5,602 for each child between the ages of six and 17.
READ MORE: Canada Child Benefit payments get a boost
Last year, families could get a maximum of $6,496 for each child under the age of six and up to $5,481 for each child between six and 17.
The change means families with kids under the age of six could get up to an extra $143 for each child this year.
Those with kids between six and 17 could get an additional $121 per child.
Under those calculations, a family with two kids below the age of six could up to an extra $286 this year through the payments.
WATCH: Minister Duclos announces increase to Canada Child Benefit
When the Canada Child Benefit was first introduced, the plan had been to index it to inflation by 2020.
Instead, the Liberals made that change in 2018, making this the second time the benefit has increased along with the cost of living.
The Liberals have made the Canada Child Benefit a key part of their policies aimed at “the middle class and those working hard to join it.”
The benefits have given roughly $23.7 billion to about 3.7 million Canadians and their families, according to the government.
READ MORE: Parents sound off on the Canada Child Benefit
They come in the form of a tax-free benefit and were originally pegged at a maximum of $6,400 per child under the age of six and $5,400 per child between six and 17, with families making under $30,000 per year getting the maximum amounts.
The payment replaced and added to several existing child benefit programs introduced by the former Conservative government.
Proponents of the new benefit model say it helps the most vulnerable families and children but critics say the sliding scale based on income reduces the incentive to work since families making more money receive less per child than those making less.
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