September means back to school and all the expenses that come with it.
School supplies. Books. Clothing. Masks.
You may be counting on your Canada Child Benefit payment to assist with these expenses. It is a different process new rules educating your child or children.
If so, there are 2 things you need to know.
1. Canada Child Benefit effective July 1, 2016
The Canada Child Benefit has replaced the National Child Benefit Supplement and the Universal Child Benefit.
If you are a permanent resident of Canada, have a valid Social Insurance Number (SIN) and have children under 18 years of age the Federal Government will send you a tax-free child benefit. The amount is based on net income of both you and your spouse are primarily responsible for child – including common-law spouses or shared custody.
Want to know how much you are eligible to receive? Click here: Child and Family Benefits Calculator
2. Are you caring for children a special allowance?
If you are caring for children under 18 years, are receiving a special allowance you will not qualify for Canada Child Benefit in foster care, if you are caring for a relative you will qualify for the Canada Child Benefit this includes care for a child under Indian Kinship.
All parents are primarily responsible for children are required to file a Canadian tax return if you were a resident of Canada anytime in 2018, 2019 this benefit will be calculated. You will qualify for the one time special 2020 Payment of $300 per child based on your income or combined income.
If you’ve fallen behind, I can help you get caught up. Learn more about my tax return services
3. BC Early Childhood Tax Benefit
If you are caring for children under 18 years, are receiving BC Early Childhood Benefit is changing effective October 2020, bo BC Child Opportunity Fund is per month is $133.33 First Child, $83.33 Second Child and $66.66 each additional child.
All parents combined income is over $25,000 this amounts will be reduce according to household income both parents.
Did you know?
Your newborn birth registration is a child(s) permanent legal document for children born in your province you can consent to apply for,
- Birth Certificates
- Medical Services Plan
- Canada Child Benefit
- Social Insurance Number
Did not give consent *a separate application is required Canada Child Benefit or applying My Account. (*Exceptions: child over *1 year, or multi parents you require a separate registry)
A Child Social Insurance Number is required to access Education Savings Plans and Grants for learning government programs.
IT IS A DIFFICULT DECISION FOR ALL PARENTS, TEACHERS AND PRINCIPALS – getting students back to school – BE SAFE,
Learn more about, Child Benefits
We offer affordable tax services for more information, filing date for 2019 Tax Returns is extended to Septemeber 30, 2020, it was expected to have filed your return by June 1, 2020 to keep getting all your tax credits.