Raising a family can be very expensive.
With a significant portion of your take home income being spent on child care, programs or medical expenses, every dollar counts, which is why the Canada Revenue Agency (CRA) wants parents to be made aware of the Canada Child Benefit (CCB) and we want you to be able to receive everything that you are eligible for.
The Canada child benefit (CCB) is a tax-free monthly payment made to eligible families to help with the cost of raising children under 18 years of age. The CCB might include the child disability benefit and any related provincial and territorial programs.
The Canada Revenue Agency (CRA) uses information from your personal (T1) income tax and benefit return to calculate how much your CCB payments will be. To get the CCB, you have to file your return every year, even if you did not have income in the year. If you have a spouse or common-law partner, they also have to file a return every year.
Benefits are paid over a 12-month period from July of one year to June of the next year.
Your benefit payments will be recalculated every July based on information from you and your spouse’s (if applicable) income tax and benefit returns from the previous year and if there are changes to any of the information, the CRA will recalculate your benefit the month after the change occurs.
If you are entitled to the Universal Child Care Benefit, the CRA will issue an RC62, universal child care benefit statement by the end of February, on behalf of Employment and Social Development Canada. Please note: You will only receive an RC62 form if you received Universal Child Care benefits retroactively for periods up to and until June 2016.
When is your next CCB payment?
If you want to check into when your next CCB payment will be coming, visit the CRA website, benefit payment dates to find out. and if you want to know how much your next CCB payment will be and when you’ll get it, log into the CRA’s My Account or go to mobile apps and select “MyBenefits CRA”.
If you prefer an email reminder, you can subscribe to the CRA’s electronic mailing list and they will send you an email reminder before they issue each payment.
More Information (CRA)
Related CRA services and information
Other Credits and Deductions for Parents
Daycare fees, employing a caregiver, or any combination of those are tax deductible, so make sure you have records when filing your taxes and keep them together should you need to substantiate the claim, if the CRA seeks verification.
Have a son or daughter in university? You may be able to transfer unused tuition credits from your child. To find out exactly how much can be transferred, be sure to prepare your child’s tax return first.
There are a lot of other eligible expenses which can be found on the CRA website, and some of the more common ones include, the cost of your child’s prescriptions, their glasses, and their dental visits as eligible medical expenses.
The criteria for these credits and deductions are unique to your children’s age and your marital status.
- Keep all of your receipts and records.
- File your tax return on time.
- Use the applicable TurboTax product to ensure that you are filed fast, easily and on time. You can visit the TurboTax.ca and let us help you figure out which product will work the best for you.