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Wed Oct 25, 2017, 12:58 AM

Canada child benefit: How your family is affected by the latest changes

An average Canadian family with two children will see approximately $200 more in Canada child benefit payments next year, and about $500 more in 2019, Finance Minister Bill Morneau said Tuesday.

In its fall economic update, the Liberal government announced that beginning in July 2018, Canada child benefit payments will be adjusted as the cost of living increases – almost two years earlier than previously promised. The change will also see the qualification threshold for families adjust along with the cost of living.

Speaking to the House of Commons, Morneau credited the government’s child-benefit program for helping lift the economy.

“Now, with a little more wind in our sails, we’re doubling down on a plan with proven results,” he said in his speech.

The child benefit adjustment means the government will be paying out an additional $5.6 billion over five years, between 2018-19 and 2022-23, to families with children aged 17 years and younger, according to the economic update tabled Tuesday.

More: https://globalnews.ca/news/3822451/canada-child-benefit-changes-liberal-justin-trudeau/

I'm not so sure I like that, "vote for us again and then we will adjust for inflation.". I do appreciate that they made it nontaxable income though. The UCCB being taxable was a PITA. And sometimes not worth it.

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