“Moms and Dads – today’s the day! The Canada Child Benefit gets more generous and rises with the cost of living from now on. That means more money in your pocket, tax-free” – Justin Trudeau
The children we build up today will be the pillars of our nation tomorrow. When leaders understand this and make laws that cater for the welfare of children, the future of the nation is secured.
In the words of Nelson Mandela, “There can be no keener revelation of a society’s soul than the way in which it treats its children.”
Canada is well on its way to ensuring the next generation of its citizens are presented with better opportunities than the former. The recent increase in the Canada Child Benefit (CCB) is one example of many scenarios in which children are looked out for through positive law enforcements.
First launched in July 2016, the CCB replaced the Canada Child Tax Benefit, the Universal Child Care Benefit and income splitting. The benefit was touted by Trudeau liberalists as simpler, better targeted to those who need it most, and much more generous.
The Prime Minister of Canada, Justin Trudeau in a recent interview stated “The (Canada Child Benefit) means more money for nine out of 10 Canadian families, and it means 300,000 fewer kids living in poverty across this country,”
Although, there was no initial plan to increase the payments until after the 2019 federal election. The monthly tax-free benefit increased on Friday to keep pace with the cost of living.
Raising children is no small feat, especially during the unpredictable and rather expensive years of infancy, early childhood and adolescence. The increase in the CCB will ensure that the benefits received by families would meet up with the current reality of raising children.
The maximum annual amount families can receive for children under the age of six grows from $6,400 to $6,496 while for children aged 6-17, families will now be eligible to receive a maximum of $5,481 instead of $5,400 per child
It is true that all fingers are not equal, that’s why the benefit isn’t given out without necessary assessment of families by the government. Not all families are eligible for the benefit and not all families receive the same amount. Families are screened and evaluated before a suitable amount is granted to them. This goes a long way to ensure the even distribution of the nation’s wealth amongst families.
The amount a family receives is calculated based on income, which decreases as a family’s income grows. Families with children where the household income is less than $30,450 per year receive the most money. Some higher-earning households do not receive the benefit at all.
“Our economy is growing stronger and stronger, which means that we can make the Canada Child Benefit more generous right now.”
At the end of the day, no policy exists without scrutiny. The CCB is no exception as it comes with its fair share of criticism. Some parents who saw their benefits decrease or completely disappear say it reduces the incentive to work. Others have argued that Canadians who face barriers to filing their taxes — such as families living in shelters and Indigenous living on remote reserves — miss out altogether. These are merely the opinions of a few.
Since July 2016, the CCB has given over $25B each year to Canadian families to help pay for things like sports programs, music lessons, and back to school clothes. The benefits of this benefit by far outweigh the complaints.
If you’re still in doubt about which country to migrate to, think Canada.
Remember, children are the future of tomorrow.