June 23, 2019

Feds highlight indexation of Canada Child Benefit

Canadian taxpayers who have children under seventeen years of age are able to take advantage of an increase in the Canada Child Benefit (CCB). As of July, the calculation is being increased to reflect inflation. This means for the 2019-20 benefit year, parents or guardians of a child under age 6 can receive a maximum benefit of $6,639 per child, and a child between 6 and 17 years of age, will receive a maximum benefit of $5,602 per child. The increase from the previous year are $143 and $121, respectively.

In July, the maximum benefit will increase up to $143 per child for 2019-2020.”

Read more: https://www.advisor.ca/tax/tax-news/feds-highlight-indexation-of-canada-child-benefit/

Ask Our Experts

Quadrant is dedicated to your financial success. Get expert advice and insights to grow your business and plan for your future.

Request a Consultation