ST. JOHN'S, March 31, 2016 /CNW/ - The Canada Child Benefit (CCB), announced in Budget 2016, is a new government program that will put more money in the pockets of middle class families to save, invest, and grow the Canadian economy said Member of Parliament for Bonavista—Burin--Trinity, NL, Judy Foote.
The Government of Canada's top priority is to build an economy that works for middle class Canadians. Today, too many middle class families struggle with the cost of raising their children, and too many children continue to live in poverty.
Canadian families deserve better. The Canada Child Benefit will be:
- simple — families will receive a single payment every month;
- tax-free — families will not have to pay back amounts received when they file their tax returns;
- better-targeted to those who need it most — low- and middle-income families will receive more benefits, and those with the highest incomes (generally over $150,000) will receive lower benefits than under the current system; and
- more generous — families that benefit will see an average increase in child benefits of almost $2,300 in the 2016-17 benefit year;
The Canada Child Benefit will provide a maximum annual benefit of up to $6,400 per child under the age of 6 and up to $5,400, per child, aged 6 through 17. Families with less than $30,000 in net income will receive the maximum benefit.
Nine out of ten families will receive more in child benefits than under the current system and end up with more money in their pockets.
Families in Newfoundland and Labrador will receive $112M more in Child Benefits during the 2016-17 to 2017-18 period.
To recognize the additional costs of caring for a child with a severe disability, Budget 2016 also proposes to continue to provide the Child Disability Benefit, an additional amount of up to $2,730 per child eligible for the Disability Tax Credit.
The new Canada Child Benefit will be paid monthly to eligible families, beginning in July 2016. It replaces the Canada Child Tax Benefit, including the National Child Benefit Supplement and the Universal Child Care Benefit.
The CCB represents a major step forward towards the goal of ensuring that all children have a fair shot at success.
The Canada Child Benefit will bring $112M more to families in Newfoundland and Labrador to help them better meet the needs of their children while investing in their family's future. A strengthened middle class means that hardworking Canadians can look forward to a good standard of living and better prospects for their children.
– Judy Foote, Bonavista—Burin—Trinity, Minister of Public Services and Procurement
"Today, too many middle-class families struggle with the costs of raising their children, and too many children continue to live in poverty. With the introduction of a much better-targeted Canada Child Benefit, about 300,000 fewer children will be living in poverty. This new benefit represents the most significant social policy innovation in a generation.
– The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development
- About 300,000 fewer children will be living in poverty in 2016-17 compared with 2014-15.
- Families with less than $30,000 in net income will receive the maximum benefit.
- Families benefitting will see an average increase in child benefits of almost $2,300 in the 2016–17 (or upcoming) benefit year.
SOURCE Employment and Social Development Canada
For further information: Annie Trépanier, Director of Communications, Office of the Hon. Judy Foote, P.C., M.P., Minister of Public Services and Procurement Canada, 819-956-9340; Mathieu Filion, Director of Communications, Office of the Hon. Jean-Yves Duclos, P.C., M.P., Minister of Families, Children and Social Development, 819-654-5546; Media Relations Office, Employment and Social Development Canada, 819-994-5559, firstname.lastname@example.org