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In 2021 You Can Receive Up To $1,200 For Each Child You Have Under Six Years Old

If you have a new or young family, there’s great news from the federal government.

The government has announced, if you qualify for the Canadian Child Benefit you will receive up to $1,200 for each child you have under the age of six. Payments will begin in early 2021.

If you make less than $120,000 per year and receive the Canadian Child Benefit there will be four tax-free payments of $300 issued to you.

Maybe you make more than $120,000 per year. In that case you will receive four tax-free payments of $150.

Around 1.6 million Canadian families will benefit, which will cost about $2.4 billion.

“COVID-19 has been especially hard for young children and their families. We know that many middle-class families are really struggling,” said Deputy Prime Minister Chrystia Freeland.

Freeland announced these payments in an economic statement.

Expect to see the first payment in early 2021 after the legislations is passed in parliament.

What do you think?

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