Check the details about the CCB Extra Payment 2024: Child Benefit Extra Payment Coming for 2024. All We Know Here. Here is the good news for the parent or the guardian taking care of the foster or the dependent children. there is certain news about the distribution of the extra payment for the CCB benefit. The complete details about the CCB Extra Payment are shared in this article.
CCB Extra Payment 2024
The upbringing of children is quite a challenging factor in the current curtain of the country. the country has been suffering from economic crises due to the higher inflation rate and the cost of living. As it market has been hit by the recession, there are no individuals who have lost their jobs and are unemployed. Such families with low to low income have been struggling to manage the excesses of the foster children.
To help these households the authorities of CRA have announced the release of the extra payment for the children under dependent care. The amount of the extra payment will be part of the Child care benefit and will be issued along with the direct deposit for the regular benefit. However, the payment will be discrete depending upon the threshold limit of the parent or the legal guardian.
- $1220 One Time Payment
- OAS Survivor Benefits
- Canada Minimum Wage
- CPP Disability Increase 2024
- ODSP Increase 2024
- Carbon Tax Changes 2024
Child Benefit Extra Payment Coming for 2024?
To provide better assistance to the parents for the uprising of the children when the COLA fluctuates, the CRA has been indexing the CCB rates. In the previous year, there was a significant raise of $440 from $6697 to $7437 for children below the age of 6 years. Similarly, the children above the get of 6 to 17 years are revised payouts of 6275 which were $5903 in the previous year. The increased amount is considered to be $372 more.
Apart from these payments, the guardian can expect the distribution of the extra payment of CCB for the welfare of the children. The extra amount is nontaxable and can be used for expenses or the tuition fees of the children.
As per the current scenario, the citizens are expecting an increase of $620 for children below 6 years and the remaining children the amount for the extra payment will be $513. However, the schedule for the deposit is yet to be finalized by the officials.
CCB Extra Payment Eligibility
The eligibility criteria for CCB extra payment are that the child must be a of minimum 18 years old
- The child care benefit is divided into two types one for the children who are below 6 years old and the other for the ones who are above 7 years old.
- The kid must be a resident of the country and the custody must be shared by the parents
- At least one of the parents or elderly guardians must be a permanent resident of the country.
- The kid should be with the parent or guardian for more than six months(more than 26 weeks).
- The parent or the applicant must be a permanent resident of the country.
- The tax returns paid by both parents must be in the record.
- The family must have a history of residence and proof of living in Canada for about least 18 months and at least one of the parents must be a permanent citizen.
- Different rules will be applied to the child who is under custody than the noram CCB benefit.
An equal share of allowance is received by the companies if the child is spending an equal amount of time with both his parents. The time spent with the child decides the amount of applicants.
CCB Extra Payment Dates
Looking back to the tax returns received from the previous year, a benefit amount of $7437 per year will be received by the families of the children who are under 6 years old. An amount of $6275 per year will be received by the children who are above 7 years old. therefore, the amount of benefits depends on many other factors, for instance; for the shared custody case if the child lives with the family occasionally or full time. On the specified dates the families will receive the amount as listed below.
| Month | Payments Dates |
| January | 19th Jan |
| February | 20th Feb |
| March | 20th Mar |
| April | 19th Apr |
| May | 17th May |
| June | 20th June |
| July | 19th July |
| August | 20th Aug |
| September | 20th Sep |
| October | 18th Oct |
| November | 20th Nov |
| December | 13th Dec |
The maximum amount that the candidates can receive should have a net annual income of less than $34863.
All We Know
The CCB calculator is available on the leading portal of the Canadian Revenue Agency. the parents can utilize them to predict the amount that they will be reinvesting.
The calculation of the CCB extra payment takes several factors to be considered including the family size, age distribution of the children, and the household income. The assets owned by the parents are also considered for the additional supplement.