Canada Child Benefit 2023-24: Eligible Parents Will Receive Up to $7,437 Per Child Starting July 20th

Eligible Canadian families will receive increased Canada Child Benefit (CCB) effective July 20 for the 2023–24 benefit year to keep pace with the cost of living.

Ksenia Chernaya

The Canada Child Benefit (CCB) is a federal program that provides financial support to eligible families based on their adjusted family net income (AFNI). The adjusted family net income is determined by the net income reported in the previous year’s tax return. The CCB offers crucial financial support to Canadian families, helping to alleviate the costs associated with raising children.

For the payment period from July 2023 to June 2024, the CCB provides a tax-free maximum of $7,437 per year ($619.75 per month) per child under the age of six, and $6,275 per year ($522.91 per month) per child aged six through 17 if the net family income is below $34,863.

If your AFNI is below $34,863, you will receive the maximum amount for each child, and it will not be reduced.

As the adjusted family net income increases above this threshold, the CCB payments gradually decrease. To calculate the AFNI, you need to consider your family net income, which is the sum of line 23600 on your tax return and your spouse’s or common-law partner’s tax return. From this total, subtract any income received from the Universal Child Care Benefit (UCCB) and Registered Disability Savings Plan (RDSP).

If your adjusted family net income is above $34,863 and up to $75,537, the payment for that child is reduced by 7% of your income greater than $34,863. This means that you will get $7,437 per year (if child is under six) minus your AFNI-$34,863 multiplied by .07.

For example, if your AFNI is 45,000, the yearly payment will be equal to $6,727.41 (Calculation: $7,437 – (45,000-$34,863)*.07).

If your adjusted family net income is greater than $75,537, then your total payment is reduced by $2,847 + 3.2% of your income greater than $75,537.

If you have two kids under your care, and your adjusted family net income is between $34,864 and $75,537, the total payment is reduced by 13.5% of your income greater than $34,863 from the sum of the maximum allowed payment (eg: 2 times $7,437 per year, if the child is under 6).

Similarly, for two kids and over 75,537 of adjusted family income, the payment is reduced by: $5,491 + 5.7% of income greater than $75,537, from the maximum total payment.

Guidelines and detailed calculation examples are available on the CCB webpage on the CRA website.

If you are new to Canada or had a newborn, and are eligible for CCB, you can apply for benefits online.

Examples of payments for the 2023–24 benefit year:

A family with an adjusted family net income of $45,000 and one child under six will receive $6,727.41 (about $560.61 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of 60,000 and two children under six will receive a total of $11,480.50 ($956.70 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of $125,000, and two children under six would receive a total of $6,563.61 (about $546.96 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of $50,000 and three children over six would receive a total of $15,948.97 (about $1,329.08 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of $150,000 and three children over six would receive a total of $5,139.96 (about $428.33 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of $45,000 and four children over 6 receive a total of $22,768.49 (about $1,897.37 per month) for the July 2023 to June 2024 period.
A family with an adjusted family net income of $200,000 and four children over 6 would receive a total of $3,921.01 (about $326.75 per month) for the July 2023 to June 2024 period.