Jean-Yves Duclos, Canada’s Minister of Families, Children, and Social Development paid a visit to the YMCA in Chatham yesterday, and says the CCB will be raised to keep up with the cost of living – going up an average of $30 a month, starting on Saturday.
“Canadian parents will have more money in their pockets,” Duclos says. “Up to $143 more tax-free per child. Parents have told me how much this means when the family budget is already stretched, but their son has a growth spurt or their daughter’s day camp fees are due.”
For the 2019-20 benefit year, the maximum benefit will rise to just over $6600 a year for each child under the age of 6, and $5600 for kids aged 6 through 17.
A single-parent family with one child aged under the age of 6 and earning $25,000 will receive an additional $143, bringing their new yearly total benefit to $6,639.
A two-parent family with two children aged 4 and 9 and earning $55,000 will receive an additional $354, bringing their new yearly total benefit to $9,017.