Parents and caregivers, check your bank accounts – because eligible families should have received their first Canada Child Benefit payment of the year.
The Canada Child Benefit (CCB), sometimes called the Baby Bonus, is a tax-free monthly payment given out by the Canada Revenue Agency to help eligible families with the costs of raising kids under 18.
Payments are released monthly, with the first payment of 2024 hitting bank accounts on January 19.
The 2024 Child Benefit schedule is as follows:
- January 19, 2024
- February 20, 2024
- March 20, 2024
- April 19, 2024
- May 17, 2024
- June 20, 2024
- July 19, 2024
- August 20, 2024
- September 20, 2024
- October 18, 2024
- November 20, 2024
- December 13, 2024
There are several different factors that play into how much caregivers receive for the CCB. This includes the number of children you care for, the age of those children, and your income.
Eligible Canadian families can get up to $619.75/month for every child under six years old. Meanwhile, those with kids between six and 17 years old can get as much as $522.91/month per kid.
Families who have an adjusted net income of less than $34,863 will get the maximum amount of money for each kid. Meanwhile, those who earn more than that can expect to receive smaller payments calculated based on their income. You can find out how much you can expect to receive here.
Parents who share custody of children can expect to get 50 per cent of what they would have received if they had full custody of the child. These payments are calculated based on their own adjusted family net income.
CCB payments are calculated every July based on your family’s adjusted net income from the year prior. For example, the payments received from July 2023 to June 2024 are based on your income from 2022.
You can find out more about the Canada Child Benefit, including how to apply and who is eligible, here.
Parents of children living with disabilities may also be eligible for the Child Disability Benefit. In the current payment period, parents and caregivers could get an additional $264.41/month for each eligible child.
ONTARIO CHILD BENEFIT
Some provinces also offer additional help for families with children. For example, the Ontario Child Benefit (OCB) is an additional tax-free payment meant to help those raising children make ends meet.
OCB payments are delivered with the CCB in a single monthly payment. For the current payment period, spanning from July 2023 to June 2024, families are eligible to receive up to $133.91/month for every child under 18.
Families in Ontario with an adjusted net income of over $24,542 may receive a partial benefit.
