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CANADA CHILD BENEFIT (CCB) EXPLAINED | How Much CCB Can You Get? | Step by Step Guide
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- เผยแพร่เมื่อ 16 ส.ค. 2024
- The Canada Child Benefit (CCB) provides money to eligible families to help them with the costs of raising children. The CCB is a monthly, non-taxable payment administered by the Canada Revenue Agency (CRA). You must apply for the CCB. Questions for me? Ask me here: asqme.com/@Dan...
To qualify for CCB payments, parents need to file their returns every year to start or continue receiving benefits. The CRA calculates eligibility in July, and it’s based on information that comes from your tax return
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In a way, the CCB is the product of two previous government benefits, namely the longstanding Canada Child Tax Benefit, or CCTB, and the separate Universal Child Care Benefit (UCCB), which was originally introduced in 2006
You can use the Child and Family Benefits Online Calculator to get an estimate of the amount you may receive. This will also calculate whether you are eligible for the Ontario Child Benefit and/or the Child Disability Benefit: www.canada.ca/...
Some provinces and territories offer additional assistance to help with the cost of raising a family. Some of these benefits are added to your Canada child benefit (CCB) payment. Conversely, as a family’s income grows, the monthly CCB payment decreases, until it is no longer available to parents at the highest income levels
If your family net income is below $32,028, you get the maximum Canada Child Benefit amount for each child, this will not be reduced. The Canada Child Benefit was also increased in 2021 to help manage the impact of Covid-19.
How To Register Your Newborn for the CCB -
Providing you are the birth mother, and you haven’t already completed an application, CRA makes it easy for new parents to apply for the CCB. It’s called the Automated Benefits Application. At the time you register the birth of your newborn with your province, you can consent to have your birth registration information shared securely with the Canada Revenue Agency
One of the most effective ways to save for your child’s education is through a Registered Education Savings Plan, or RESP. Through the Canada Education Savings Grant (CESG), the government provides a 20% match on annual RESP contributions, to a maximum of $500 per child
If you’re not already maximizing your contributions, consider topping them up with monies from the CCB. Another huge benefit of a RESP is that it offers tax-sheltered growth for the duration of the plan, until the funds are withdrawn.
If you qualify for the Canada Child Benefit and are not currently receiving it, you may be missing a valuable source of income that can provide a much-needed boost to your family’s financial wellbeing
The CCB is completely tax-free and deposited directly into your bank account or mailed as a cheque to your home.
Want to receive a higher monthly CCB payment? There’s an effortless way to do so while saving more for your financial future. Use your RRSP to increase your CCB payments. CCB is calculated based on your net household income, you can use RRSP contributions to lower your net household income and qualify for a higher CCB payment
Key to maximizing CCB lies in minimizing a household's net income. Deductions that lower the amount on line 23600 of the federal tax return will result in higher monthly benefit. E.g., people who don't contribute the max to their registered retirement savings plans (RRSPs) miss more tax-free CCB income
Disclaimer: This channel is for education purposes only and opinions expressed in this video are based on personal research and should be treated as such. These are not instructions, suggestions, nor directions as to how to handle your money. The facts and figures presented in this video are up-to-date based on the recording. These may have changed based on when you watch the video. Please, always do your own due diligence!
#CCB #CanadaChildBenefit #TaxFreeMoney
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What are the Best Investing Apps In Canada, find out here: th-cam.com/video/nhQVpLUlFtU/w-d-xo.html
Super useful video, thanks
I also suffer greatly overall for being insecure about myself & try to make myself feel better by spreading news on ppl i'm jealous of & have empathy for about things i truly have no knowledge of. And thank you for mcdonalds kids happy meals savings.
Nice information bro like 12 stay blessed keep growing 👍
Many many thanks
Clear and useful content, specially for new immigrants who have difficult time understanding the CCB. Thanks for your efforts.
Your kind words mean a lot to me 🙏🏼
Child tax credits should only be available to people who are employed and pay tax on income...and this should not be available to people who have dependents under age 18 on welfare or odsp its not the federal governments responsibility to pay for a child because the parents chose to sponge through life
Thanks for sharing your thoughts!
The federal government doesn’t pay them the working people do lol
@@dilldirk284 well said sir
Helpful
Glad you think so!
A signed letter from the female parent that states that the other parent with whom she resides is primarily responsible for all the children in the household, Can you please share the form format which i need to sign from my wife?
Hi, this is probably a stupid question but do me and my spouse (mom and dad of 1 child) both apply for this separately? Or only one of us need to apply? Thanks you
CCB is an automatic application after both of you file your taxes, thanks for asking!
Yes it is a stupid question. 😎
@@CadillacCB_np2k comment reported =)
for a new comer just landed in canada in January, so not required to fill tax return this year, but what income should be declared for the years before while was in his homecountry for the CCB? net income or gross income? the RC66 form mentions only income for 2 previous years, not wether it is gross or net. can you please assist?
Hi Danish, great video! I have one question: what if you forgot to apply and ended up applying for the benefit 6 months after your child is born. Will you still get the money for the first 6 months. Thanks.
The govt does make you whole when it comes to CCB if you applied late in the year
Hi Danish. Great video. Highly informative. I have 2 question; what happens with a total newcomer (PR holder) who hasn't submitted a tax return. And what happens to other benefits?
To get the most out of tax benefits, it's a good idea to submit your income tax return every year and on time. Here in my guide on how to file taxes: th-cam.com/video/N8mYBojBza4/w-d-xo.html
Hi, I have 2 daughters.
My family lived in Canada from July 2018 to July 2019. At that time, I went to college with a study visa. My family returned to South Korea where is my hometown in July 2019, and we lived in Korea until April 2022. My family came back to Canada in May 2022 and we have been living there ever since. Now I have a work visa and am working in Canada. We didn't live 18 months in a row in Canada. But the total length of my stay in Canada is over 18 months. Can I apply for CCB now?
Hello danish, you answered our many questions in the video, I have one more question, rite now me and my wife with 6 years old child living in Canada, bc and we applied for our PR in December 2020 and 15 days ago we got PR and now we are going to apply for CCB, so do we get benefits from December 2020 onwards or it starts from now onwards.
It'll be based on your application. Once you apply for CCB, assuming you are also up to date with your taxes, your CCB will be processed between 8-11 weeks. Hope this helps!
Hi,her father was a canadian citizen,after his death i get survivor pension. I have a doughter .we are non resident of canada. We are live in outside of canada .so can my daughter get child benifit from ccp?
I came along with my son in april 2022, i am a temporary resident, am i purpose to get a lump sum amount from april 2022 to april 2023?
Thanks.
Hello, if child is born outside canada but both parent are permanent residence of canada will baby be eligible for CCB
Hi and thanks for your question. Yes the baby should be eligible in that scenario as long as the other criteria shown in the video are met.
@@DanishGhaziCPA same question but if baby is still in India and parents are in Canada. Is it possible to apply ccb
Hi Danish your vedio is very informative.i have one another question I'm a temporary resident in BC , what kind of birth proof can I submit?is it necessary submit birth certificate?or I can submit passport as a proof of birth date?
Thanks for watching! Great question, you can learn more by checking out the official guide from the government of Canada: www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
Hi, my husband is a US citizen and we live in USA. Now i am planning to move to Canada to assist my brothers family. I will be living with him. I have filed all my taxes as zero even though I was in US. My kids are born in hUS and I have filed their citizenship since birth. Do they qualify for any payments when we move to Canada and how do I report my husband earnings as he is in US. Thanks
I would highly recommend working with a cross border tax accountant if you must file taxes in both the US and Canada. Your children will qualify for CCB when you move to Canada and meet the requirements outlined in the video. Thanks for watching!
Would rrsp contributions reduce your income to increase your ccb payments ?
Yes, that would be an effective form of tax planning. As CCB is based on net income, you can plan your RRSP contributions accordingly as it reduces your taxable / net income. If done correctly, RRSP contributions can reduce your tax burden, increase your refund and CCB.
I came to canada on november 2022. i got my relocation expense reimbursed through payroll with tax deduction on it. It was informed to me that I will get back the deducted tax amount on relocation expense after filing IT returns. So should i apply CCB after filing or before filing in CRA. Also I only have eCOPR. Do we need to have PR card for applying CCB. Please advise.
If you have filed your tax return for the previous year (both yours and your spouse’s if applicable), no additional action is required to apply for the CCB. The Canada Revenue Agency (CRA) will use your income information from your tax return to calculate your CCB amount.
If you have not filed your tax return for the previous year, you should do so as soon as possible to avoid any delays or interruptions in your CCB payments.
Hi im on imgrante procceder i wll be in canada at march .. my wife shes pregenet and we are excpting child at the of may .. so my quetion is i can have that benfits right way or i have to live in canada for 18 month .. thanks
Thanks. BTW, what is RC62 slip ?
What if you come your a new immigrant with Permanent residence visa are we entitled to ccb for our child. Thank you
hey . please reply. My parents are in India. They can’t come right now due to job. My younger sister is canadian citizen. She is coming in a week. She is staying with me and I am taking care of her. How can I apply CCB? Please tell
You must meet all of the following conditions:
You live with a child who is under 18 years of age
You are primarily responsible for the care and upbringing of the child
You are a resident of Canada for tax purposes
You or your spouse or common-law partner must be any of the following:
a Canadian citizen
a permanent resident
a protected person
a temporary resident who has lived in Canada for the previous 18 months, and who has a valid permit in the 19th month other than one that states "does not confer status" or "does not confer temporary resident status"
an Indigenous person who meets the definition of "Indian" under the Indian Act
Hi informative just confirm family net income means money which will be credited to our account after the income tax deductions isn't it
Net Income -refers to Line 23600 on your income tax return, this is used to then calculate your CCB amount. During the video, I go through the actual calculation, highly recommend watching that section so you estimate how much CCB you can get
Quick question Danish ! I have a 7 year old daughter she was born in 2016. Her mother was claiming the credit the full amount even though I was in care of my daughter . The cra granted my childtax from 2018 up until now but I made a mistake and didn’t file for 2017 & 2016. Would it be greedy for me to file for those two years ? Can I get an adjustment or should I wait until I get my retroactive payment because it will take longer ? The benefit is split now will she have to pay it back ? And how much will my backpay amount be if you had to estimate? They are calculating now and let me know December 14
If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA
Hello Danish, Great video. keep up the good work. I have 2 questions please. My children are 4 and 7 years old, and I landed in Jan 2023. i don't have anew born. Can I still apply online by creating a CRA user and Password? Thx
Yes you can
Hi ,
I am living as a temp resident(work) in canada for last 21 monts.my wife is taking care of the kids at home. We are more than 21 months . My wife is in visitor permit can she apply for child care if so how to apply?
Great question, you can learn more about the CCB from the government of Canada: www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4114/canada-child-benefit.html
Did you get anything brother ?
Same is my case
Our scenario; June new arrival as permanent resident. We will apply online through CRA portal. My wife will not have completed a tax return. Can you comment on this scenario?
Great question, feel free to reach out on the matter here: asqme.com/@DanishGhaziCPA
Hello ,
I’m a Canadian citizen and got married abroad . We’re having a child together soon .
I work in Canada for 6months and I live with my wife for 6 months abroad while her PR is process
Should I apply for CCB ? If yes , should my wife write the letter stating that I’m the primary responsible for the child ?
Thank you in advance
If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA
Hi in my cra account it says “no benefits and credits are currently expected” what does that mean? Been receiving ccb since 2018
CCB is based on your most recent tax filing. If you have not filed your taxes and they are not up to date, the CCB stops until you file your taxes
@@DanishGhaziCPA we have filed our tax last march 2021
@@antejijic8723 CCB does get clawed back after you reach a certain family net income. If you believe you are owed CCB, it's best to reach out to the CRA and see if there are any issues
@@DanishGhaziCPA or maybe because it’s being re-calculated this july?
@@antejijic8723 every July it's recalculated but if you're not receiving your monthly CCB as you have been in the past and you've filed your taxes, you can wait a few weeks or reach out to the CRA
How much can a single mother with 2 kids in saskatchewan make working make before she's cut off child tax benefit ?.thanks
Great question, feel free to reach out on the matter here: asqme.com/@DanishGhaziCPA
Hello not sure if you can answer this question for me, My son was born outside of Canada and now he is 3 years old and he wasn't a Canadian citizen for those 3 years of his life, And now this year he is a Canadian citizen, Will government give me backpay for those 3 years my son didn't receive his CCB? thank you
If you're unsure, I would recommend reaching out to the CRA for assistance
Same concern. Did you get an answer from this? Thanks
@@alyssaarabe865 I'm not sure either I haven't gotting to canada yet, this year I'm taking him and will see once I have him in canada, I'll try and remember to write on here again with a better response
@@hn-caesmaltes5372 We are now in Canada with my son, and trying to reach and apply for his CCB for those years. I'll also get back here once i got an answer from CRA.
@@alyssaarabe865 thank you
Hi Danish, thanks for the great information, I have one question if you could help, I have landed to Canada last month June 2022, so when I can file my Tax ? can I do it now then I start the application CCB , or is it something that I can do it now ? do I have to wait for next year?
If you landed in 2022, the next filing deadline would be end of April 2023. Tax Season typically starts around February
No wonder so many immigrants want to come here
Right…. Lol 😂I think it’s so funny Canadians who work literally can’t afford a vacation yet these people and lazy people get to come here and or do nothing live off the system 😂
You know you can claim ccb too right ?
Hi Danish i want apply for job visa from Germany and work in Canada i have 5 children from age 7 to 17 and later want to bring my family also to canada
My question is do i receive child benefits for my children
If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA
Hi sir im in canada for 18 months as a WP just filed PR and my commonlaw and kids came here last february 2023, then we file CCB this 0ct 2023, CRA said my commonlaw is the eligible applicant since we live in the same home, by the way mam the question is how many months of CCB payment we will receive? is this a lumpsum? since feb 2023 that the children have landed, will they start to present? pls answer thanks sir
You have to be a pr or temporary at the very least to qualify.
If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA
Brother, after we get our PR do we get our outstanding CCB in lumpsum ? Please let us know Thank You
I did my 2 years taxes and I got 2 years back pay for CCB as I have 2 children I owed 7500$ ish in total I got 32000ish minus the 7500$ and like 4000 on my GST
If you're still looking for help, feel free to reach out over here: asqme.com/@DanishGhaziCPA
Is that is scams or real ??