Canada is concerned about its people and their children, and so it is little wonder that it runs a very good programme, called the Canada Child Benefit (CCB) Programme, allegedly, to assist the parents nicely raise their kids below 18 years.
Earlier, for the benefit of the Canadian families with kids, Ottawa ran some very good schemes, like the Canada Child Tax Benefit, National Child Benefit Supplement, and the Universal Child Care Benefit programs. In 2016, these three schemes were done away with and a new single programme, called the CCB Programme, was introduced.
Tailored to assist the Canadian parents raise their kids below 18 years, the said scheme includes other benefits and territorial programmes within it even as the benefits offered to the families are 100% tax-free.
Child Benefit in Canada Eligibility Requirements
You need to fulfill the requirements to get the benefits. Canada Revenue Agency (CRA) is the concerned body that manages the programme and the requirements that we have spoken about are the requirements as laid down by it.
You require satisfying these in case you wish to be qualified for the CCB Programme.
Canada Child Benefit Programme–How it’s Useful!
The scheme is planned in such a manner that each and every family, with a varying degree of salary, acquires the benefits that they merit even as adjustments are made in the payments to make the most of the benefits for families with not-too-high incomes.
The benefits are computed on the ground of the tax returns that are filed by the applying families per annum. A fixed amount is then figured only to be given every month over a period of one year. The amount is recalculated per annum even as the payments are on the basis of that.
Features that impact the benefits under the programme & its calculation
Canadian Revenue Agency keeps the families in the loop to guarantee that they have a perfect record of the details which assists them to calculate the benefits precisely. Given this, it the applicants must reply to the letters or questionnaires presented to them, with the right details.
In case the matrimonial standing of two people is not the same and it has changed, they should inform the agency prior to end of next month. In case the custody of a child is shared, identical halves of the benefits will be proffered to both the parents. The announcement of the custody agreement ought to be shared.
With a view to confirm that you keep getting the benefits, share the right information when asked, inform the agency of any amendments without any delays, besides file your Income Tax Returns (ITRs) every year one time.