Important changes were made to the Universal Child Care Benefit on January 1, 2015. To replace the Child Tax Benefit eliminated this year, the Universal Child Care Benefit has been increased. The government started dispersing these funds last week (July 21, 2015).
- For children under six years old, the tax benefit has been increased to $160 from $100.
- For children aged six to seventeen, the tax benefit has been increased by $60.
- The federal government started delivering this tax benefit in lump sums last week (July 21, 2015).
- This benefit must be claimed as income and is taxable.
- CBC News has estimated that this tax benefit represents a gain of just $13.18 per month, taking into account the fact that it replaces the Child Tax Benefit.
- You can apply for this benefit at the Canada Revenue website.
- 3 things to know about the UCCB payments’ impact
- Canada Revenue Agency – Universal Child Care Benefit: How can YOU benefit?