Latest Canada Child Benefit payments roll out this week. How much?
October payments of the Canada Child Benefit (CCB) will go to eligible families who have children under the age of 18 years residing in Canada.
Canadian parents will receive the latest Canada Child Benefit (CCB) payments on Friday.
The October payments are intended for eligible families with children under 18 residing in Canada. These amounts were increased in July following the annual recalculation, which accounts for inflation and a family’s net income from the previous year.
Recipients do not have to pay taxes on these monthly payments.
Payment Details
The Canada Revenue Agency (CRA) explains that the CCB is determined based on the family’s adjusted net income, the number of children, and their ages, as reported in the prior year’s tax return.
In October, families may receive:
- Up to $648.91 per month for each child under six — a 4.7% increase from 2023.
- Up to $547.50 per month for each child aged six to 17 — also a 4.7% increase from last year.
The maximum amount applies to families with an adjusted net income below $36,502. As income exceeds this threshold, the payment gradually decreases.
Families with total annual benefits under $240 would have already received a lump sum in July and won’t receive payments this month.
Eligibility
To qualify for the CCB, a person must live in Canada with a child under 18 and be the child’s primary caregiver. The benefit can also apply to foster children if Children’s Special Allowances (CSA) are not paid for that month.
In cases of shared custody, each parent receives 50% of the benefit. Payments are either deposited directly into bank accounts or sent by mail.
Financial Relief for Families
The benefits are expected to offer relief to families still facing financial challenges, despite cooling inflation and easing interest rates.
The next CCB payments are scheduled for Nov. 20 and Dec. 13.
