Changes to the Child Tax Benefit

untitledDo you have children under 18 living at home? Changes to the Child Tax Benefit come into effect in July.

The federal government has simplified the calculation of the Canada Child Benefit; the Universal Child Care Benefit is now included and is no longer taxable. The new Canada Child Benefit will provide a maximum annual benefit of up to $6,400 per child under the age of 6 and up to $5,400 per child for those aged 6 through 17. Families with less than $30,000 in net income will receive the maximum benefit.

Check here to see how it might benefit you!

http://www.budget.gc.ca/2016/tool-outil/ccb-ace-en.html