142046
MP-Report

Good news for families

Two years ago, our government launched the Canada Child Benefit (CCB) to help families with the cost of raising kids.  

Simpler, tax free and more generous than previous child benefit programs, the CCB has resulted in an overall reduction of the cost of living for the average Canadian family and has played a vital role in reducing child poverty across Canada.

In Kelowna-Lake Country, as of January 2018, more than 17,000 children were being supported by the CCB.

The good news for local families is that, as of July 20, the CCB will be increased to keep up with the cost of living, a change that comes two years ahead of scheduled indexing by the government.

This means that the CCB will now have a maximum annual benefit of $6,496 per child under age six and $5,481 per child age six through 17.

For a single parent earning $35,000 with two children, the accelerated indexation of the CCB will mean an additional $560 in the 2019–20 benefit year.

In fact, the CCB provides significant financial support to lower and middle income families without discriminating between single-parent or dual-parent families. 

As noted by Carleton University professor Andrew Jackson, family income splitting for income tax purposes, introduced in 2014 by the last government, was designed to provide the maximum benefit to traditional families with a stay at home spouse despite the fact that the majority of families with children have both parents working.

The more progressive Canada Child Benefit, which has been credited as being “highly stimulative” to the economy by Bank of Canada Governor Stephen Poloz, ensures the majority of families with children receive a benefit with the maximum going to those who need it the most.

As the economy continues to fire on all cylinders, with record job creation, income growth and stock markets at an all-time high, it’s important that as many Canadians as possible have the ability to participate.   

Programs such as CCB, and our government’s willingness to work with First Nations, provincial, territorial and municipal partners to address affordable housing, education, healthcare and an improved Canada Pension Plan, reflect our commitment to social and economic policies that are focused on areas where they are needed most.

More information on the Canada Child Benefit, including a benefit calculator, can be found at www.canada.ca/canada-child-benefit.

COMMENTS WELCOME

Comments are pre-moderated to ensure they meet our guidelines. Approval times will vary. Keep it civil, and stay on topic. If you see an inappropriate comment, please use the ‘flag’ feature. Comments are the opinions of the comment writer, not of Castanet. Comments remain open for one day after a story is published and are closed on weekends. Visit Castanet’s Forums to start or join a discussion about this story.



More MP Report articles

137399
About the Author

Stephen Fuhr was born in Edmonton, AB and grew up in Kamloops, BC. He is a former CF-18 fighter pilot with the Canadian Air Force.

After serving with distinction for 20 years, Stephen retired from the Canadian Forces in 2009 with the rank of Major. He joined his family’s Kelowna-based company, SkyTrac Systems, which develops aviation communication and tracking equipment. As CEO and Director of Business Development, he led the company to financial success in a challenging economic climate.

In 2012, Stephen left the company to pursue his first love of flying.

With growing interest in politics and a desire to serve his country again, Stephen ran for office in the 2015 election.

Today, he proudly serves as the Member of Parliament for the Kelowna-Lake Country riding. 



137925
The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

Previous Stories



140954