On Wednesday, Statistics Canada revealed that recently higher inflation rates in Canada are stressful for many families, especially those with children. Fortunately, the Canadian government recently announced that it will increase the child welfare payment, which is what everyone calls milk money. Let's take a look at the details!
Canada will increase child benefits
The Canada Child Benefit, introduced in 2016, is a key component of Canada's affordability program.
In July 2018, the Canadian government included the Canadian Child Benefit in the index for the first time to ensure that the benefit is kept pace with inflation.
Although the reduction in child poverty in 2019-2020 was mainly due to the covid-19 temporary emergency relief, the child poverty rate has been declining since 2015, which also means that this benefit has played a key role in reducing the number of children living in poverty.
Since 2018, the Canada Child Benefit has also made some adjustments to provide more support to low- and middle-income families with children based on the income of Canadians. The amount of benefits is also calculated based on the family's net income on the previous year's tax return.
Yesterday, The Minister for Families, Children and Social Development, Karina Gould, stressed at the sixth anniversary that canada's child benefits will rise to help families cope with the rising cost of living.
For the benefit year from July 2022 to June 2023, for eligible families, a maximum of $5,903 per child between the ages of 6 and 17 and a maximum of $6,997 per child under the age of 6 will be granted.
However, the specific amount of money can be taken depends on the net income of a family, if the family's net income AFNI exceeds 32,797 Canadian dollars, then the benefits received will be correspondingly reduced.
The benefits will be recalculated in July, so eligible families can look forward to it, as they will certainly get more benefits this time than in the past.
Canadian Benefit Application Requirements
There are a number of requirements that need to be met to apply for benefits. For example, applicants must live with children under the age of 18 and take care of them in order to be eligible to apply.
In addition, such persons must also be Canadian tax residents, and they or their partner must be Canadian citizens, permanent residents, protected persons, eligible temporary residents or individuals registered or entitled to register under the Indian Act.
Depending on the date of application, it can take up to 11 weeks for a family to receive their first benefit.
Commenting on the benefit adjustment, Karina said: "Canadian families are concerned about the rising costs associated with raising children, and so are we. Through our new affordability program, the ongoing indexation of child welfare in Canada, and our Canada-wide early learning and child care system, we will continue to prioritize the needs of children and families and help Canadians put their money back in their pockets when they need it most. The Government of Canada is committed to ensuring that all Canadian families have a fair chance of success, providing parents with more money to help them raise their children at a high cost. ”
Canadian Prime Minister Justin Trudeau also excitedly announced the good news:
"Parents across the country, there's good news: Today, your Canadian child benefits have increased! This means you have more money each month to pay for what your kids need, and we'll keep working hard so you can live your lives normally. ”
Trudeau said the monthly benefits that Canadian families receive can be used to buy their children's food, pay for extracurricular activities, buy clothes and any necessities of life. He added that the federal government will focus its attention on those who really need such support to ensure that the benefit can feed thousands of children across the country.
As a traditional immigrant country, in addition to child benefits, Canada has many benefits, if you are also interested in Canada, please feel free to consult us.