Universal Child Care Benefit (UCCB) increases from $ 100 to $ 160, other increases to

[tjthemanto]

http://www.thestar.com/news/canada/2..._new_year.html

Meanwhile, all families — including single-parent households — will see their Universal Child Care Benefit increased from $100 to $160 per month for children under the age of 6.



Parents with children between the ages of 6 and 17 will receive a new benefit of $60 per month.



The increased payment will not actually arrive until July 2015, but that cheque will include the additional amounts for the first half of the year.

This enhanced benefit is going to replace the Child Tax Credit for the 2015 taxation year.

[Shwa Girl]

A federal government goodie?
Hmmm. I smell an election in 2015.
Sorry to be sarcastic, but they don't give anything without a reason.

[Natalka]

Thanks, Mr. Harper!

[jasperandchar]

I get more than $60.00 per month now for CTB, so I guess I will be sol or is it $60.00 per child either way I'm still getting short changed, thanks Mr. Harper

[Angela273]

Yep, the way the current changes are laid out they are going to hurt a lot of people financially. I currently receive some CTB and am due with baby #2 in August, dh and I both earn about the same amount of money. My friend is a single mother and due with baby #4 in early January, she relies on CTB to pay her bills. This is one of the many reasons why I do not like Harper.

[Anna Michele]

If they think 60 is going to replace my baby bonus they wont get my vote

[Anna Michele]

http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa12-eng.html

http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa11-eng.html


http://www.fin.gc.ca/n14/14-155-eng.asp

http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa10-eng.html

[momof3heathens]

Will this affect parents on disability or assistance?

[Anna Michele]

Will this affect parents on disability or assistance?

Not sure if this helps im still trying to wrap my head around it



Increasing the Child Care Expense Deduction dollar limits by $1,000, effective for the 2015 tax year. The maximum amounts that can be claimed will increase to $8,000 from $7,000 for children under age seven, to $5,000 from $4,000 for children aged seven through 16, and to $11,000 from $10,000 for children who are eligible for the Disability Tax Credit.*

[lizzie bargain]

The $60 per month is in addition to the baby bonus or child tax credit! I was confused at first too! In a sense it really isn't extra money-it replaces the deduction we used to get per child on our income taxes every year-we will still get that this spring but not after that is my understanding. But the good thing is that we get it monthly starting in July( and you will get 6 months retro that month (so you can be thinking now about what you could put that lump sum towards depending on how many youngsters you have) and it is not income based. Anyone with kids 6-17 gets it while those with kids 5 and under get 160 per child rather than the $100 now.

[lizzie bargain]

AM -I think this will actually benefit your family-from what I think you have said you have 5 youngsters so 60 per month for those 6-17 and 160 per month for those younger. And you will still get your baby bonus or CTC credti for each child as well each month.

If they think 60 is going to replace my baby bonus they wont get my vote

[lizzie bargain]

Angela, I think in your case you are right that if you and DH both earn the same and are in the same tax bracket then the income splitting won't be beneficial. But perhaps it might be when you are on mat leave this year and next year and earning less on EI? It may however be worth running the numbers and figuring out, if your DH can transfer up to 50,000 per year of income to you to be taxed at a lower rate would it make more sense for you to stay home with your little ones paying no child care expenses for two kids, no transporation to work etc until they start school? Consider what you would bring home each day after child care expenses etc vs splitting income with your DH for awhile. . Especially right now with your sub teaching. Of course if you get a contract I am sure it would make more sense for you to work to have a bigger income, build your pension etc. The new increased childcare deductions will help those working parents with high child care costs.

[lizzie bargain]

You will get more per month!

I get more than $60.00 per month now for CTB, so I guess I will be sol or is it $60.00 per child either way I'm still getting short changed, thanks Mr. Harper

[tjthemanto]

I get more than $60.00 per month now for CTB, so I guess I will be sol or is it $60.00 per child either way I'm still getting short changed, thanks Mr. Harper

Yep, the way the current changes are laid out they are going to hurt a lot of people financially. I currently receive some CTB and am due with baby #2 in August, dh and I both earn about the same amount of money. My friend is a single mother and due with baby #4 in early January, she relies on CTB to pay her bills. This is one of the many reasons why I do not like Harper.

If they think 60 is going to replace my baby bonus they wont get my vote

So are they just reducing $ 60 or more in one area, and increasing $ 60 in another area , and pretending its extra benefits ?

Very sneaky of the gov. if that's the case. Just some election goodies to buy some extra votes , I guess.

[Anna Michele]

AM -I think this will actually benefit your family-from what I think you have said you have 5 youngsters so 60 per month for those 6-17 and 160 per month for those younger. And you will still get your baby bonus or CTC credit for each child as well each month.

you are right

What is the Child Tax Credit? The Child Tax Credit is a non-refundable tax credit for parents of children who are under 18 years of age at the end of the year. A claim is made for the credit by completing line 367 of the Schedule 1, Federal Tax, when you prepare your personal income tax and benefit return.


They said it will replace ctb and then they say it wont change.

Will my Canada Child Tax Benefit change as a result of the enhancements to UCCB? The Canada Child Tax Benefit, a tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18, has not changed.

But tj you are right all they are doing is cutting and pasting