More Government Cash For Some Families Starting Today

New Canada Child Benefit takes effect

Canada’s new Child Benefit program kicks in today, meaning for cash for some families. The new program combines the former Canada Child Tax Benefit and Universal Child Care Benefit. What it means is families with children under the age of six will get up to $6400 a year per child – depending on their income level. For those with kids ages 6 to 17 the amount could be as much as $5400 per year, tax free. Ninety per cent of families with kids under the age of 18 will have more money than they did under the old system. The poorest families will see the biggest boost; the wealthiest will see their child benefit payment disappear altogether.

photoKamaljith K V via Flickr