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Your Canada Child Benefit Payments Just Got A Boost

Darpan News Desk The Canadian Press, 20 Jul, 2018 02:08 PM
    OTTAWA — Government ministers and Liberal MPs held dozens of events Thursday to highlight two years since the Liberals introduced the Canada Child Benefit. 
     
     
    Starting Friday, the value of the means-tested benefit goes up to keep pace with inflation.
     
     
    Some numbers about the benefit to keep in mind:
     
     
    $23.7 billion: Planned spending on the child benefit this fiscal year
     
     
    $25.1 billion: Budgeted spending on the child benefit in fiscal year 2022-23
     
     
    3.7 million: Families across Canada who receive the benefit
     
     
    20: Estimated percentage of eligible Indigenous families on-reserve who are missing out on payments
     
     
    $2,300: Average increase per year for families than the previous system
     
     
    $6,496: New maximum annual benefit for a child under six
     
     
    $6,400: Previous annual maximum for each child under six prior to payments being indexed to inflation
     
     
    $5,481: New maximum annual benefit for a child age six to 17
     
     
    $5,400: Previous annual maximum for each child six to 17 prior to payments being indexed to inflation
     
     
    $30,450: Income level above which the government begins to reduce the value of benefit payments
     
     
    300,000: Children the government estimates will be lifted above the low income cut-off as a result of the child benefit

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