WorldWay Group has learned that on May 6, local time, the Canadian federal government announced that effective July 20, 2019, it will increase the Canada Child Benefit (CCB, commonly known as the 'milk money').
Following the increase, families with children under 18 can receive a maximum annual Canada Child Benefit of $6,639, while families with two children under 18 will receive up to $13,000 in annual benefits.
Regarding the new policy, Canadian Minister of Families, Children and Social Development Jean-Yves Duclos stated, "The cost of raising children is increasing day by day. If we want our children to live in a fairer society and have a better start, we need to provide more support to their parents."
This new policy marks the second increase in child benefits by the Canadian federal government since the launch of the new 'Canada Child Benefit' program in 2016. The previous increase occurred in July 2018, two years ahead of the original schedule.
The 'Canada Child Benefit' is not available to every family; it is determined based on family income. Families with an annual income not exceeding $30,000 CAD can receive the full amount, and as income increases, the benefit gradually decreases.
Under the new benefit, each family can receive $6,639 CAD for each child under 6 years old, and $5,602 CAD for each child aged 6 to 17. This means each child in every family can receive an additional $200 to $240 in benefits per year.
According to a report by Statistics Canada, the government's child benefit program has benefited 3.7 million families, helping children from many low-income families participate in various activities and providing them with a better educational environment. As of 2017, 278,000 Canadian children have been lifted out of poverty due to the 'Canada Child Benefit'.
Canada's benefits are so generous that they are truly enviable. In recent years, Canada has attracted immigrants from all over the world with its sound welfare system, comprehensive medical system, and comfortable living environment. It is truly a paradise, especially for the elderly and children!
If you are interested in immigration, why not take action now? You and your family are only one Permanent Resident card away from Canada's generous benefits!
Currently, WorldWay Group, a leading institution in the investment immigration industry and one of the Top 500 Asian Brands, offers high-quality Canadian investment immigration programs, including the Quebec Immigrant Investor Program (QIIP) which has a low threshold and provides a direct path to a Permanent Resident card, as well as the Saskatchewan Entrepreneur Program, Prince Edward Island Entrepreneur Program, Manitoba Entrepreneur Program, and the New Brunswick Entrepreneur Program, all of which allow for a direct path to a Permanent Resident card, helping investors realize their dreams of moving to the Great White North. If you are interested in immigrating to Canada, please call us for a consultation: 400-138-2929