Canada Child Tax benefit

Canadians might not be aware of the pot of gold waiting for them in the mailbox each month. The Canada Child Tax Benefit (CCTB) is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18.
The CCTB is not just a one-time payment; it's an ongoing benefit that can make a significant difference in the lives of families. In fact, the CCTB provides over $23 billion in support to Canadian families each year. So, if you have children, make sure to apply for the CCTB. You could be missing out on a lot of money that could help you pay for groceries, childcare, or other expenses for your kids.
Who is eligible for the CCTB?
To be eligible for the CCTB, you must meet the following criteria:

You must be a resident of Canada.
You must have a child who is under 18 years of age.
You must be the primary caregiver of the child.
Your family income must be below a certain threshold.

The income threshold for the CCTB varies depending on the number of children you have. For example, in 2023, the income threshold for a single parent with one child is $32,738. For a two-parent family with two children, the income threshold is $46,691.
How much is the CCTB?
The amount of the CCTB you receive depends on the number of children you have and your family income.

For the 2023-2024 benefit year (July 2023 to June 2024), the maximum monthly CCTB payment is $683 for children under 6 years of age and $583 for children aged 6 to 17.

The CCTB is paid monthly, and you can receive the payments directly into your bank account.
How do I apply for the CCTB?
You can apply for the CCTB online through the Canada Revenue Agency (CRA) website or by mail. You will need to provide the CRA with your child's Social Insurance Number (SIN), your family income, and other information.
Once you have applied for the CCTB, the CRA will review your application and determine if you are eligible. If you are approved, you will start receiving the payments within a few months.
What are the benefits of the CCTB?
The CCTB has a number of benefits, including:

It can help you offset the cost of raising children.
It can help you improve your family's financial security.
It can help you provide your children with a better quality of life.

The CCTB is a valuable benefit that can make a big difference in the lives of Canadian families. If you have children, make sure to apply for the CCTB today.