Canada Child Benefit Increase From July 2024: More Support for Families With Young Children
August 8, 2024 Canada 9 min read
The July 2024 Canada Child Benefit increase gives families with young children more support and reflects the Government of Canada’s strong commitment to standing by its residents and helping them thrive.
The July 2024 Canada Child Benefit increase gives families with young children more support and reflects the Government of Canada’s strong commitment to standing by its residents and helping them thrive.
What is the Canada Child Benefit (CCB)?
The Canada Child Benefit (CCB) is a tax-free monthly payment from the Government of Canada that helps families with the cost of raising children under 18. The amount you receive depends on factors such as your children’s ages, your marital status, the number of eligible children, and your family net income for the previous year. The benefit is also indexed to inflation every year to keep pace with the rising cost of living.
To be eligible for the Canada Child Benefit, families must meet the following criteria:
1. You (as an individual or a couple) must live with a child under 18, be primarily responsible for the child’s care and upbringing, and be a resident of Canada for tax purposes.
2. You or your spouse or common-law partner must have one of the following lawful statuses in Canada:
- A Canadian citizen;
- A Canadian permanent resident;
- A protected person under the Immigration and Refugee Protection Act;
- A temporary resident who has lived in Canada for the previous 18 months and holds a valid permit in the 19th month, other than a permit stating “does not confer status” or “does not confer temporary resident status”;
- An individual who is registered, or entitled to be registered, under the Indian Act.
Canada Child Benefit increase from July 2024
To help parents keep up with the rising cost of living, the maximum annual benefit was increased in line with inflation, starting with the July 19, 2024 payment. For the 2024–2025 benefit year, families can receive up to C$7,787 per child under 6 and C$6,570 per child aged 6 to 17 — up to C$350 more than the previous year, an increase of 4.7%.
The family net income threshold for receiving the maximum benefit has also been adjusted to C$36,502, allowing more families to qualify for the maximum monthly payment.
Parents receive Canada Child Benefit payments based on their adjusted family net income (AFNI), as reported on the previous year’s tax returns. To calculate your AFNI, add the amount on line 23600 of your tax return to the amount on line 23600 of your spouse’s or common-law partner’s return, then subtract any Universal Child Care Benefit (UCCB) and Registered Disability Savings Plan (RDSP) amounts from the total.
Building a more prosperous society
Beyond child benefits, the Government of Canada is also making other investments that lower costs for families, support children’s overall development, and give every child the best start in life. These include:
- A Canada-wide early learning and child care system that has cut regulated child care fees in half across the country;
- Better access to dental care for children under 18 through the Canadian Dental Care Plan;
- A new National School Food Program, backed by a C$1 billion investment over 5 years, which will provide meals to an additional 400,000 children each year on top of existing school food programs;
- After-school learning support, with a C$67.5 million investment to help every Canadian student reach their full potential;
- A C$39.2 million investment in CanCode, a program that has helped more than 4.5 million students from kindergarten to grade 12 develop coding and digital skills to succeed in science, technology, engineering, and mathematics.
The Government of Canada is also building more homes, improving the health care system, and investing in innovative technology — so every Canadian has fair conditions and opportunities to grow and succeed.
Taken together, these policies reflect the Government of Canada’s ongoing commitment to supporting its residents and helping them thrive, and they help make Canada a high-quality, welcoming place to live. This is also one of the reasons Canada remains an attractive immigration destination for people seeking a stable, sustainable, and promising future for themselves and their families.
At the time of writing, Canada is also one of the G7 countries with a somewhat more open immigration policy than its peers. Canada’s business immigration pathways, such as the Start-up Visa (SUV) and provincial entrepreneur streams, are considered well suited to the circumstances, backgrounds, and goals of investors who are entrepreneurs, business owners, or senior managers.
If you are interested in investor immigration to Canada, contact IMM Group or leave your details below. Our experienced advisors will provide detailed guidance and help assess your application’s prospects of success. We are committed to keeping your personal data confidential and will use the information you provide only to advise on your family’s application.
IMM Group
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- Canada immigration
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- Prince Edward Island (PEI)
- Provincial entrepreneur streams (PNP)
- Start-up Visa
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