Written By: Anushka
The CCB benefits will increase by 6.3% in 2024. Children under 6 will receive $7,437 annually, while those aged 7-17 will receive $6,275 annually.
CCB provides tax-free monthly payments to support Canadian families with child-rearing expenses, improving overall well-being and quality of life.
To qualify for CCB, children must be under 18, live with the applicant, and the applicant must meet Canadian residency and citizenship requirements.
CCB payments are issued on the 20th of each month. For July 2024, the payment date is July 20.
CCB payments are designed to cover education, living expenses, and childcare, significantly reducing child poverty in Canada.
The Canada Revenue Agency administers the CCB, assuring timely and accurate disbursement of funds based on recipients' income and tax information.
The CCB increase helps families adjust to inflation, offering crucial financial support to maintain economic stability and improve household life.