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Canada Child Benefit Payment Issued Today
Wednesday, July 20, 2016
The Canada Revenue Agency (CRA) is issuing the first Canada Child Benefit (CCB) payment on July 20, 2016. You should receive your payment within a week. If you do not receive your CCB payment by July 27, 2016, you should check on its status.
The new CCB will be issued once a month to eligible Canadian families. It is replacing the Canada Child Tax Benefit, including the National Child Benefit Supplement and the Universal Child Care Benefit because it offers these new changes:
- It is tax free: you do not have to pay back amounts received when you file for tax returns,
- It is meant for families who need it the most: low or middle-income families will receive more benefits,
- You will receive increased benefits: almost $2,300 annually.
You can calculate the amount you are likely to receive based on how many children you have and their age. If you have been getting your benefit payments through direct deposit, you will continue to receive it the same way with the new CCB.