Canada Child Benefit is going up and you could get $7,000 per kid, tax free

Good news, Canadian parents — the government has announced that an update is coming to the Canada Child Benefit program, and it could mean more money to raise your little ones.

In a press release published today, Employment and Social Development Canada revealed that the maximum annual CCB amount will see an increase to help families cope with the rising costs of living, especially due to the COVID-19 pandemic.

The announcement comes on the sixth anniversary of the CCB program, which was launched in 2016 as part of the federal Affordability Plan after the end of the Canada Child Tax Benefit program.

Today, Minister Gould visited YMCA Georgian Child Care to highlight the increase of the annual #CanadaChildBenefit. 👩‍👩‍👧‍👦🙌

For more info ➡️ https://t.co/xtQkN09bGo pic.twitter.com/1DH0Ubo1Ux

— Employment and Social Development Canada (@ESDC_GC) July 20, 2022

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“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,” government officials wrote.

This amount will be tax-free, and it will vary based on your income. It’s meant to provide support for lower to middle-income families with kids.

“Canadian families are worried about the rising costs associated with raising kids, but they are not in this alone,” Minister of Families, Children and Social Development Karina Gould said.

“Through our new Affordability Plan, the continued indexation of the Canada Child Benefit, and our Canada-wide early learning and child care system, we will continue to prioritize the needs of children and families, and help put money back in the pockets of Canadians when they need it the most.”

On Wednesday, Statistics Canada revealed that inflation had hit a record-breaking 8.1%, making it harder for Canadian families to handle their expenses, especially if they have children.

To find out if your family is eligible for the updated CCB, take the criteria test here.