Canada Child Benefit Is Paying Out In January & Here's What You Need To Know About Getting Money

If you're a parent, the Canada Child Benefit — which is also known as the CCB — is available to help with the cost of raising children in this country. Also, it's one of the federal benefits paying out in January 2024 that you can get money from! You could actually receive hundreds of dollars from the government this month with the CCB.

So, here's what you need to know about the federal benefit including what the CCB is, when payments are going out, and how much money you could get. The CCB is a tax free monthly payment that's made to eligible families to help with the cost of raising children under 18 years old. It's administered by the Canada Revenue Agency (CRA).

If you're wondering who can get the CCB , you need to meet all of the following conditions: Also, you or your spouse or common law partner must be a Canadian citizen, permanent resident, protected person, temporary resident who has lived in Canada for the previous 18 months and has a valid permit, or registered or entitled to be registered under the Indian Act.

You should apply for the CCB as soon as any of the following happens: You can apply through birth registration, online with CRA My Account or by mail. Everyone is required to provide proof of birth when applying for the CCB — a new rule that was introduced on November 20, 2023. How much money you can get from the CCB depends on: If your adjusted family net income is under $34,863, you will get the maximum amount for each child and it will not be reduced.

Any reduction to the maximum benefit payment depends on your adjusted family net income and the number of children. Payments gradually start decreasing when your adjusted family net income is over $34,863. The maximum CCB payment amount is $619.75 per month for each child under six years old and $522.91 per month for each child from 6 to 17 years of age.

There are CCB payment dates in each month of the year. Friday, January 19, 2024, is when the CCB is paid out this month. However, you won't receive a monthly payment in January if your total benefit amount for the year is less than $240. You'll get a lump sum on the July payment date. If you don't receive your CCB payment on the expected payment date, the CRA noted that you should wait five working days before contacting the agency.

If you've never received the CCB but have applied for the first time, you should receive your first payment within eight weeks of the CRA receiving your application online or within 11 weeks of the CRA receiving your application by mail. This article's cover image was used for illustrative purposes only..