Tax Planning / 1 posts found

Explaining the Family Tax Credits in 2015

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Let us review the changes to the main family benefits provided by the Government of Canada in 2015.

The amount for the Universal Child Care Benefit (UCCB) will increase. This is the credit paid for each child under 6 years old regardless of the family income. This amount increased from $100 to $160 per month per child under 6 years old. This is the amount paid on the 20th of each month. However, the first 7 months ($420) payment for 2015 will be paid out in July of this year. Then, from August 2015 onwards, the payment will be $160 per month per child.