Canada Child Benefit Payment Dates 2023

The Canadian government has launched various programs to benefit families and children. One of the best-known and most beneficial programs in Canada is the Canada Child Benefit (CCB). 

Due to high inflation and a costly standard of living, It goes without saying that raising a family is very expensive. Some parents may find that the costs of raising children place a burden on their money, leading to hardship and mental stress as they battle to make ends meet and buy necessities. So the government has introduced this program to benefit families and give them relief. Furthermore, the financial strain on parents has been lessened with the implementation of several initiatives by both the federal and provincial governments throughout the years. 

While some programmes routinely deposit funds into parents' bank accounts, others offer federal tax credits and GST/HST rebates. The Canada Child Benefit is a well-known example of a benefit scheme (CCB).

What is the Canada Child Benefit (CCB)?

A monthly payment intended to assist families with children under the age of 18 is known as the Canada Child Benefit (CCB).Even though its name has changed throughout time, many people still frequently refer to it as the "Child Tax Benefit" or "Baby Bonus.” 

The government distributes the tax-free payments, which may include the child disability benefit and any other pertinent provincial or territorial programmes.

Your CCB payment may also include benefits from provincial and territorial programmes like:

  1. Alberta Child and family benefit (ACFB)
  2. British Columbia child opportunity benefit
  3. New Brunswick child tax benefit (NBCTB)
  4. Ontario child benefit
  5. Newfoundland and Labrador child benefit
  6. Northwest Territories child benefit
  7. Nova Scotia child benefit
  8. Nunavut child benefit
  9. Yukon child benefit

Who is Eligible to Receive the Canada Child Benefit?

If you are a parent of a child age less than 18, in such a scenario, it would be wise to learn more about the CCB's qualifying requirements in order to determine whether you would be eligible for this credit. Applying 

You must abide by all of the following conditions in order to be eligible for the CCB:

  1. living with a child that is less than 18 years old.
  2. You must be the child's primary carer and responsible adult.
  3. For tax reasons, you have to be a resident of Canada.
  4. You must fit one of the following criteria, or be a spouse or common-law partner:
  5. a Canadian national
  6. a long-term occupant
  7. a protected individual (under the definition of the Immigration and Refugee Protection Act.)
  8. a temporary resident of Canada who has been there for the past 18 months with a permit good through the next month
  9. a member of the Indigenous peoples group as defined by the Indian Act

Remember that you won't receive CCB in the same month if you are receiving children's special allowances (CSA), such as while caring for foster children.

What Will My CCB Amount Be?

If you are confused about how to know your Canada Child Benefit payment, you don't need to look any further. You may use this helpful calculator to see how much CCB you will receive if you are qualified.

The amount of CCB you receive is often based on your adjusted family net income, the number of children you have, their ages, whether they have disabilities, and how many children you have.

If the child's parents are divorced or separated and share custody, they may request to divide child support payments (CCB) equally, with each parent getting half of what they would receive if they had exclusive custody. The amount will depend on the adjusted net income of both parents.

Your CCB payment will be revised every July according to your adjusted family net income. Therefore, if your income changed in 2022, it wouldn't have an effect on your CCB until July 2023; if it changed in 2023, it wouldn't have an effect until July 2024; and so on. Remember that in addition to the CCB, several provinces and territories also provide support for families raising children through various assistance programmes. You can visit the Federal Government website to learn more about your province or territory. The CCB small child supplement may be available to you if your child is under the age of six. 

Depending on your adjusted family net income, families are eligible to receive up to $1,200 per child under the age of 6 on a quarterly basis. The programme, however, came to a stop on December 31, 2021. Your 2019 and 2020 tax returns, as well as those of your spouse or common-law partner, must be filed and assessed by December 31, 2023, if you want to receive retroactive payments. There is a possibility that a kid of yours who qualifies for the disability tax credit will also qualify for the child disability benefit. Each kid who qualifies for the child disability benefit from June 2022 to June 2023 might get up to $2,985, which works out to $248.75 per month.

The Canada Child Benefit Application Process

There are three ways you may apply for the CCB as soon as your child is born:

1. Birth Registration

When you record the birth of your child in your province or territory, submit an application for the CCB. This is frequently done in the hospital.

You must complete a birth registration package according to your jurisdiction. Make sure you give your social security number and permission so that the CRA may receive the necessary information.

2. Apply on-line

Applying for child benefits online through the CRA My account is simple. Additionally supported by this technology is online document submission. This method is very easy and less complicated. 

3. The mail

Form RC66 must be filled out completely and mailed to the nearby tax centre in order to submit a CCB application.

Schedule RC66SCH and Form RC66 must be completed by newcomers to Canada in order to apply for Canada Child Benefits. Call the Canada Child Benefit hotline at 1-800-387-1193 if you have any questions about the application procedure.

Payment Schedules for Child Disability Benefits

Families that are caring for a small child who has a "severe and sustained disability in physical or mental functioning" are given the Child Disability Benefit (CDB).

The maximum CDB payment is $248.75 per month or $2,985 annually for the period of July 2022 to June 2023. If your family's net annual income is more than $71,060, CDB payments are scaled back.

CCB payment monthCCB payment dates 2023
January January 20, 2023
February February 20, 2023
MarchMarch 20, 2023
AprilApril 20, 2023
MayMay 19, 2023
June June 20, 2023
July July 20, 2023
August August 18, 2023
September 20, 2023September 20, 2023
October October 20, 2023
November November 20, 2023
December 13, 2023December 13, 2023

Source: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/canada-child-benefit-overview/canada-child-benefit-payment-dates.html

Will the CCB Rise in 2023?

If you look at the high inflation all around the world. Each year, the CCB is raised to reflect inflation as well. The CCB was raised in July 2022 to reflect the rate of inflation over the previous 12 months.

The maximum CCB payout for a kid under the age of 6 has been raised to $6,997 annually. The maximum yearly payment for children aged 6 to 17 is currently $5,903 per kid. This increment is in effect through June 2023, when the current payment cycle expires. Introduced in 2021, the short-lived Canada Child Benefit Young Child Supplement (CCBYS) provided families with up to $1,200 for each child under the age of six. In October 2021, the last CCBYS payment was made.

Conclusion 

If you have children or intend to in the near future, you should look into the CCB programme. It is simple to apply for, and for as long as you are still qualified, you may anticipate regular monthly payments. Furthermore, using the CCB does not bar you from receiving other income-supporting benefits like the GST/HST refund and disability tax credit. When raising a family, having access to extra money is always useful, so make sure you utilize the CCB and its provincial counterpart.

Written By:
Salman Rundhawa
Salman Rundhawa is the founder of Filing Taxes. Salman provides valuable tax planning, accounting, and income tax preparation services in Toronto, Mississauga, Oakville, and Hamilton.

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