Families with children are receiving a little bit more money from the federal government.
An increase to the Canada Child Benefit kicks in today.
It is provided to families with children 17 and under.
Minister of Families, Children and Social Development, Jenna Sudds says the increase amounts to 4.7% over last year.
“For the 2024 25 benefit year, families who need it most will now receive up to $7,787 per child under the age of six and $6,570 per child aged six to 17. This is an increase of $350 and $295 from the last year,” says Sudds.
The program was put in place in 2016 and is indexed to inflation every July.
Sudds says the money helps families keep up with the rising costs.
“I have heard from so many parents how much the Canada Child Benefit is making a difference in their families’ lives. This tax-free benefit is increasing again to help parents keep up with the cost of raising kids and to give their kids the best possible start in life.”
Sudds notes the benefit is helping nearly 3.5 million families and over 6 million children.
“And it’s put back 25 billion tax-free dollars into the hands of Canadian families each year across this country. This is money that we know parents can put to good use, whether it’s for healthy food on the table or more clothes, as our children continue to grow.”
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