Canada Child Benefit will be increased


 

Canada Child Benefit will be increased

 

July 22, 2022

Global Korean Post

 

July 2022 marks the 6th anniversary of the Canada Child Benefit, which was introduced in 2016.

 

The Government indexed the Canada Child Benefit for the first time in July 2018 to ensure the benefit keeps pace with inflation.

 

For the 2022–23 benefit year, families most in need can receive up to $6,997 per child under the age of six and $5,903 per child aged six through 17.

 

The Canada Child Benefit is tax-free, based on income and provides increased support for low- to middle-income families with children.

 

Overall, there were 450,000 fewer children living in poverty in 2019, and 782,000 fewer children living in poverty in 2020 compared to 2015.

 

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